Viridian Therapeutics (NASDAQ:VRDN) Shares Gap Down – What’s Next?

Viridian Therapeutics, Inc. (NASDAQ:VRDN) shares gapped down before the market opened on Monday . The stock had previously closed at $27.39, but opened at $17.00. Viridian Therapeutics shares last traded at $18.1620, with a volume of 4,451,127 shares trading hands.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Wall Street Zen cut Viridian Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viridian Therapeutics in a report on Wednesday, January 21st. UBS Group started coverage on shares of Viridian Therapeutics in a research note on Wednesday, January 7th. They set a “buy” rating and a $50.00 target price on the stock. Wells Fargo & Company raised their price target on shares of Viridian Therapeutics from $26.00 to $29.00 and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. Finally, Royal Bank Of Canada decreased their price objective on shares of Viridian Therapeutics from $45.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, February 27th. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Viridian Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $42.21.

Viridian Therapeutics Price Performance

The firm has a market capitalization of $1.86 billion, a PE ratio of -5.54 and a beta of 1.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 12.65 and a quick ratio of 12.65. The firm has a 50-day simple moving average of $29.72 and a 200-day simple moving average of $27.89.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.18). The business had revenue of $0.13 million during the quarter, compared to the consensus estimate of $15.75 million. Viridian Therapeutics had a negative return on equity of 83.25% and a negative net margin of 483.57%. As a group, equities analysts forecast that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Jennifer Tousignant sold 2,272 shares of Viridian Therapeutics stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $31.16, for a total transaction of $70,795.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.58% of the company’s stock.

Hedge Funds Weigh In On Viridian Therapeutics

A number of institutional investors have recently bought and sold shares of VRDN. ANTIPODES PARTNERS Ltd bought a new stake in Viridian Therapeutics during the fourth quarter valued at about $36,000. Aster Capital Management DIFC Ltd bought a new position in shares of Viridian Therapeutics during the 3rd quarter valued at approximately $35,000. Farther Finance Advisors LLC increased its holdings in Viridian Therapeutics by 332.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,940 shares of the company’s stock worth $42,000 after acquiring an additional 1,491 shares in the last quarter. Bessemer Group Inc. raised its stake in Viridian Therapeutics by 947.7% during the 3rd quarter. Bessemer Group Inc. now owns 2,085 shares of the company’s stock worth $45,000 after acquiring an additional 1,886 shares during the period. Finally, Larson Financial Group LLC purchased a new position in Viridian Therapeutics during the third quarter valued at approximately $52,000.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc (NASDAQ: VRDN) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted antibody therapeutics for patients suffering from rare and serious diseases. The company’s lead program, VRDN-001, is a fully human monoclonal antibody that antagonizes the insulin-like growth factor-1 receptor (IGF-1R), with an initial focus on thyroid eye disease (TED). By selectively inhibiting IGF-1R signaling, VRDN-001 aims to reduce inflammation and tissue remodeling associated with TED and related disorders.

In addition to VRDN-001, Viridian is advancing a second antibody program, VRDN-002, which targets complement-mediated pathways implicated in autoimmune and inflammatory diseases.