Viridian Therapeutics (NASDAQ:VRDN) Sees Large Volume Increase – Time to Buy?

Viridian Therapeutics, Inc. (NASDAQ:VRDN) saw unusually-high trading volume on Thursday . Approximately 3,561,939 shares were traded during trading, an increase of 61% from the previous session’s volume of 2,209,210 shares.The stock last traded at $17.0240 and had previously closed at $17.53.

Analyst Ratings Changes

VRDN has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Viridian Therapeutics in a research report on Monday, April 20th. Needham & Company LLC reissued a “buy” rating and set a $32.00 price objective on shares of Viridian Therapeutics in a research report on Tuesday. Wedbush reduced their price objective on shares of Viridian Therapeutics from $37.00 to $31.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 8th. The Goldman Sachs Group reduced their price objective on shares of Viridian Therapeutics from $36.00 to $31.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Finally, Wall Street Zen downgraded shares of Viridian Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Viridian Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $37.31.

Viridian Therapeutics Stock Down 3.0%

The stock’s 50-day moving average price is $21.82 and its two-hundred day moving average price is $26.99. The stock has a market capitalization of $1.75 billion, a PE ratio of -5.12 and a beta of 0.82. The company has a debt-to-equity ratio of 0.08, a quick ratio of 12.65 and a current ratio of 12.65.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Tuesday, May 5th. The company reported ($0.90) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.16. The firm had revenue of $0.14 million for the quarter, compared to the consensus estimate of $0.04 million. Viridian Therapeutics had a negative net margin of 490.31% and a negative return on equity of 84.78%. The company’s revenue was up 95.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.87) EPS. As a group, analysts expect that Viridian Therapeutics, Inc. will post -3.79 EPS for the current fiscal year.

Institutional Trading of Viridian Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. MetLife Investment Management LLC grew its position in Viridian Therapeutics by 0.8% during the 4th quarter. MetLife Investment Management LLC now owns 43,985 shares of the company’s stock valued at $1,369,000 after purchasing an additional 356 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Viridian Therapeutics by 0.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,360 shares of the company’s stock valued at $4,337,000 after purchasing an additional 380 shares during the last quarter. US Bancorp DE grew its position in Viridian Therapeutics by 23.2% during the 3rd quarter. US Bancorp DE now owns 2,457 shares of the company’s stock valued at $53,000 after purchasing an additional 463 shares during the last quarter. Bank of New York Mellon Corp grew its position in Viridian Therapeutics by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 216,525 shares of the company’s stock valued at $4,235,000 after purchasing an additional 659 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Viridian Therapeutics by 1.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company’s stock valued at $669,000 after purchasing an additional 876 shares during the last quarter.

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.