Viridian Therapeutics (NASDAQ:VRDN) Trading Down 3.4% – Should You Sell?

Viridian Therapeutics, Inc. (NASDAQ:VRDN) traded down 3.4% during trading on Tuesday . The company traded as low as $18.77 and last traded at $19.01. 81,134 shares were traded during trading, a decline of 93% from the average session volume of 1,168,239 shares. The stock had previously closed at $19.67.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on VRDN shares. HC Wainwright restated a “buy” rating and issued a $34.00 price objective on shares of Viridian Therapeutics in a report on Monday, December 16th. The Goldman Sachs Group raised their price objective on Viridian Therapeutics from $25.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Needham & Company LLC reissued a “buy” rating and issued a $38.00 target price on shares of Viridian Therapeutics in a research note on Monday, November 25th. Royal Bank of Canada raised their price target on Viridian Therapeutics from $44.00 to $47.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $27.00 price objective (down previously from $37.00) on shares of Viridian Therapeutics in a research report on Thursday, December 19th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.70.

Viridian Therapeutics Trading Down 2.7 %

The stock’s 50-day simple moving average is $21.64 and its 200-day simple moving average is $18.25. The company has a debt-to-equity ratio of 0.04, a quick ratio of 18.55 and a current ratio of 18.55. The firm has a market capitalization of $1.52 billion, a PE ratio of -4.44 and a beta of 1.04.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) 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 company had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.08 million. As a group, sell-side analysts expect that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Insider Activity

In other Viridian Therapeutics news, CEO Stephen F. Mahoney purchased 21,400 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was bought at an average cost of $23.33 per share, for a total transaction of $499,262.00. Following the purchase, the chief executive officer now directly owns 21,400 shares in the company, valued at $499,262. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Thomas W. Beetham acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average cost of $23.41 per share, for a total transaction of $117,050.00. Following the purchase, the chief operating officer now directly owns 6,000 shares of the company’s stock, valued at $140,460. This represents a 500.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.65% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Viridian Therapeutics

Several large investors have recently made changes to their positions in the business. Principal Financial Group Inc. increased its position in Viridian Therapeutics by 1,603.4% during the 3rd quarter. Principal Financial Group Inc. now owns 172,810 shares of the company’s stock valued at $3,931,000 after buying an additional 162,665 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of Viridian Therapeutics in the third quarter worth $8,917,000. Exome Asset Management LLC purchased a new stake in shares of Viridian Therapeutics in the third quarter worth $3,968,000. Geode Capital Management LLC increased its holdings in shares of Viridian Therapeutics by 5.8% during the third quarter. Geode Capital Management LLC now owns 1,493,311 shares of the company’s stock valued at $33,979,000 after acquiring an additional 81,951 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Viridian Therapeutics by 113.1% in the 3rd quarter. Barclays PLC now owns 125,397 shares of the company’s stock worth $2,851,000 after purchasing an additional 66,550 shares during the last quarter.

Viridian Therapeutics Company Profile

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.