Viridian Therapeutics (NASDAQ:VRDN) Trading Down 5.6% – Time to Sell?

Viridian Therapeutics, Inc. (NASDAQ:VRDN) traded down 5.6% on Tuesday . The stock traded as low as $12.47 and last traded at $12.56. 956,512 shares traded hands during mid-day trading, a decline of 20% from the average session volume of 1,193,014 shares. The stock had previously closed at $13.30.

Wall Street Analyst Weigh In

Several research firms have weighed in on VRDN. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 price target on shares of Viridian Therapeutics in a report on Tuesday, January 7th. Wells Fargo & Company reissued an “equal weight” rating and set a $27.00 price objective (down from $37.00) on shares of Viridian Therapeutics in a report on Thursday, December 19th. Royal Bank of Canada increased their price target on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. Finally, 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. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Viridian Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.70.

Viridian Therapeutics Trading Down 3.6 %

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 stock has a 50-day moving average of $14.96 and a two-hundred day moving average of $18.84. The company has a market cap of $1.05 billion, a P/E ratio of -2.98 and a beta of 0.81.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.81) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.24. 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 $0.07 million for the quarter, compared to the consensus estimate of $0.05 million. On average, equities research analysts predict that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current year.

Institutional Trading of Viridian Therapeutics

A number of hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC increased its position in shares of Viridian Therapeutics by 2.9% during the 1st quarter. SG Americas Securities LLC now owns 31,972 shares of the company’s stock valued at $431,000 after purchasing an additional 887 shares during the last quarter. Voya Investment Management LLC raised its position in Viridian Therapeutics by 5.1% in the fourth quarter. Voya Investment Management LLC now owns 21,397 shares of the company’s stock worth $410,000 after acquiring an additional 1,038 shares during the period. Tudor Investment Corp ET AL boosted its stake in shares of Viridian Therapeutics by 3.0% during the 4th quarter. Tudor Investment Corp ET AL now owns 38,367 shares of the company’s stock worth $735,000 after acquiring an additional 1,106 shares during the last quarter. R Squared Ltd bought a new stake in Viridian Therapeutics during the fourth quarter valued at about $26,000. Finally, Summit Investment Advisors Inc. grew its stake in shares of Viridian Therapeutics by 24.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,646 shares of the company’s stock valued at $147,000 after acquiring an additional 1,516 shares during the period.

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.