Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN – Get Free Report) traded down 4.7% on Friday after B. Riley lowered their price target on the stock from $29.00 to $25.00. B. Riley currently has a buy rating on the stock. Viridian Therapeutics traded as low as $17.87 and last traded at $17.89. 216,980 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 983,403 shares. The stock had previously closed at $18.78.
VRDN has been the subject of a number of other reports. HC Wainwright restated a “buy” rating and issued a $37.00 price target on shares of Viridian Therapeutics in a research report on Thursday, February 29th. Royal Bank of Canada restated an “outperform” rating and issued a $35.00 price objective on shares of Viridian Therapeutics in a report on Thursday, December 14th. Wedbush lifted their price objective on Viridian Therapeutics from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. Oppenheimer lifted their price objective on Viridian Therapeutics from $35.00 to $36.00 and gave the company an “outperform” rating in a report on Tuesday, December 19th. Finally, Needham & Company LLC restated a “buy” rating and set a $30.00 price target on shares of Viridian Therapeutics in a research note on Wednesday. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $36.60.
Insider Transactions at Viridian Therapeutics
In other Viridian Therapeutics news, Director Fairmount Funds Management Llc bought 476,190 shares of Viridian Therapeutics stock in a transaction dated Monday, January 22nd. The stock was acquired at an average cost of $21.00 per share, with a total value of $9,999,990.00. Following the purchase, the director now directly owns 1,839,954 shares in the company, valued at approximately $38,639,034. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.43% of the company’s stock.
Institutional Trading of Viridian Therapeutics
Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Viridian Therapeutics by 22.6% during the fourth quarter. Vanguard Group Inc. now owns 3,000,948 shares of the company’s stock worth $65,361,000 after purchasing an additional 552,933 shares in the last quarter. Virtu Financial LLC purchased a new stake in Viridian Therapeutics in the 4th quarter valued at $424,000. Perceptive Advisors LLC grew its holdings in Viridian Therapeutics by 71.1% in the 4th quarter. Perceptive Advisors LLC now owns 1,730,212 shares of the company’s stock valued at $37,684,000 after buying an additional 719,007 shares in the last quarter. Virtus ETF Advisers LLC grew its holdings in shares of Viridian Therapeutics by 34.0% during the 4th quarter. Virtus ETF Advisers LLC now owns 4,787 shares of the company’s stock worth $104,000 after purchasing an additional 1,215 shares during the period. Finally, Legal & General Group Plc lifted its stake in Viridian Therapeutics by 26.3% during the 4th quarter. Legal & General Group Plc now owns 34,566 shares of the company’s stock worth $753,000 after acquiring an additional 7,206 shares in the last quarter.
Viridian Therapeutics Trading Down 4.1 %
The company has a 50 day moving average of $19.10 and a 200-day moving average of $17.57. The company has a debt-to-equity ratio of 0.09, a quick ratio of 18.26 and a current ratio of 18.26. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -3.38 and a beta of 1.08.
Viridian Therapeutics (NASDAQ:VRDN – Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.37). The company had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.15 million. Viridian Therapeutics had a negative net margin of 75,711.48% and a negative return on equity of 121.80%. Viridian Therapeutics’s revenue for the quarter was down 31.4% on a year-over-year basis. During the same period in the prior year, the business earned ($1.13) EPS. On average, research analysts anticipate that Viridian Therapeutics, Inc. will post -4.25 earnings per share for the current year.
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.