Viridian Therapeutics (NASDAQ:VRDN) Sets New 1-Year Low – Here’s What Happened

Viridian Therapeutics, Inc. (NASDAQ:VRDN) reached a new 52-week low during trading on Monday . The stock traded as low as $10.30 and last traded at $11.72, with a volume of 804 shares changing hands. The stock had previously closed at $11.99.

Analyst Ratings Changes

A number of equities research analysts have issued reports on VRDN shares. Royal Bank of Canada boosted their target price 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. Needham & Company LLC reissued a “buy” rating and set a $38.00 price objective on shares of Viridian Therapeutics in a report on Tuesday, January 7th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $27.00 target price (down previously from $37.00) on shares of Viridian Therapeutics in a report on Thursday, December 19th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $34.00 price objective on shares of Viridian Therapeutics in a research note on Monday, December 16th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.70.

Viridian Therapeutics Trading Down 1.2 %

The company has a market capitalization of $965.27 million, a PE ratio of -2.74 and a beta of 0.81. The stock has a fifty day moving average of $16.18 and a two-hundred day moving average of $19.40. The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $0.07 million for the quarter, compared to analysts’ expectations of $0.05 million. As a group, sell-side analysts anticipate that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Viridian Therapeutics

A number of institutional investors have recently bought and sold shares of VRDN. FMR LLC grew its holdings in shares of Viridian Therapeutics by 6.2% during the 4th quarter. FMR LLC now owns 11,881,912 shares of the company’s stock worth $227,776,000 after acquiring an additional 698,434 shares during the period. Vanguard Group Inc. grew its holdings in shares of Viridian Therapeutics by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 4,595,049 shares of the company’s stock valued at $88,087,000 after buying an additional 174,952 shares during the last quarter. Deep Track Capital LP increased its position in shares of Viridian Therapeutics by 20.6% during the fourth quarter. Deep Track Capital LP now owns 4,522,741 shares of the company’s stock valued at $86,701,000 after acquiring an additional 771,796 shares in the last quarter. Tang Capital Management LLC lifted its position in Viridian Therapeutics by 11.1% in the 4th quarter. Tang Capital Management LLC now owns 2,492,925 shares of the company’s stock valued at $47,789,000 after acquiring an additional 250,000 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Viridian Therapeutics by 3.8% during the 4th quarter. Alliancebernstein L.P. now owns 2,286,994 shares of the company’s stock valued at $43,842,000 after purchasing an additional 84,255 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.