Viridian Therapeutics (NASDAQ:VRDN) Stock Price Down 5% – Here’s What Happened

Viridian Therapeutics, Inc. (NASDAQ:VRDN)’s stock price was down 5% during trading on Wednesday . The company traded as low as $17.07 and last traded at $16.96. Approximately 130,343 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 1,151,976 shares. The stock had previously closed at $17.86.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on VRDN. Royal Bank of Canada raised their price target on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Wells Fargo & Company reissued an “equal weight” rating and set a $27.00 target price (down from $37.00) on shares of Viridian Therapeutics in a research note on Thursday, December 19th. HC Wainwright restated a “buy” rating and issued a $34.00 price target on shares of Viridian Therapeutics in a research note on Monday, December 16th. TD Cowen started coverage on Viridian Therapeutics in a research report on Monday, November 25th. They set a “buy” rating on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $38.00 price objective on shares of Viridian Therapeutics in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Viridian Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $35.70.

Viridian Therapeutics Stock Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 18.55 and a quick ratio of 18.55. The stock has a 50-day simple moving average of $19.04 and a 200 day simple moving average of $19.64. The company has a market capitalization of $1.34 billion, a PE ratio of -3.94 and a beta of 1.32.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing the consensus estimate of ($1.11) by ($0.04). Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. The business had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.08 million. Equities analysts anticipate that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Viridian Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. R Squared Ltd acquired a new stake in Viridian Therapeutics in the 4th quarter valued at $26,000. AlphaQuest LLC lifted its position in Viridian Therapeutics by 119.0% during the 4th quarter. AlphaQuest LLC now owns 2,795 shares of the company’s stock worth $54,000 after acquiring an additional 1,519 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Viridian Therapeutics in the third quarter valued at approximately $149,000. Quantbot Technologies LP purchased a new stake in shares of Viridian Therapeutics during the fourth quarter valued at approximately $164,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Viridian Therapeutics during the third quarter worth $208,000.

About Viridian Therapeutics

Viridian Therapeutics, Inc, a biotechnology company, discover and develops treatments for serious and rare diseases. The company's product pipeline includes VRDN-001, a monoclonal antibody targeting insulin-like growth factor-1 receptor that is in Phase 3 clinical trial for the treatment of thyroid eye disease (TED); and VRDN-003, a next generation IGF-1R humanized monoclonal antibodies targeting IGF-1R and incorporating half-life extension technology for the treatment of TED.