Viridian Therapeutics (NASDAQ:VRDN) Stock Price Down 3.4% – Should You Sell?

Viridian Therapeutics, Inc. (NASDAQ:VRDN)’s stock price traded down 3.4% during trading on Tuesday . The company traded as low as $18.77 and last traded at $19.01. 81,134 shares were traded during trading, a decline of 93% from the average session volume of 1,168,239 shares. The stock had previously closed at $19.67.

Analyst Ratings Changes

A number of equities analysts recently weighed in on VRDN shares. Needham & Company LLC restated a “buy” rating and issued a $38.00 price objective on shares of Viridian Therapeutics in a report on Monday, November 25th. HC Wainwright reissued a “buy” rating and issued a $34.00 target price on shares of Viridian Therapeutics in a report on Monday, December 16th. The Goldman Sachs Group upped their price target on Viridian Therapeutics from $25.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, September 12th. BTIG Research lifted their price objective on Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $27.00 target price (down previously from $37.00) on shares of Viridian Therapeutics in a research note on Thursday, December 19th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.70.

Viridian Therapeutics Stock Performance

The business’s fifty day moving average is $21.64 and its 200-day moving average is $18.25. The company has a quick ratio of 18.55, a current ratio of 18.55 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.52 billion, a PE ratio of -4.44 and a beta of 1.04.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The business had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.08 million. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. As a group, research analysts predict that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Insider Buying and Selling at Viridian Therapeutics

In related news, COO Thomas W. Beetham acquired 5,000 shares of the stock in a transaction dated Friday, September 27th. The shares were purchased at an average cost of $23.41 per share, with a total value of $117,050.00. Following the transaction, the chief operating officer now directly owns 6,000 shares in the company, valued at approximately $140,460. This represents a 500.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Stephen F. Mahoney bought 21,400 shares of Viridian Therapeutics stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average cost of $23.33 per share, with a total value of $499,262.00. Following the completion of the acquisition, the chief executive officer now directly owns 21,400 shares in the company, valued at $499,262. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.65% of the stock is currently owned by corporate insiders.

Institutional Trading of Viridian Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp increased its stake in Viridian Therapeutics by 37.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 208,676 shares of the company’s stock worth $2,715,000 after buying an additional 56,814 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Viridian Therapeutics by 24.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock worth $156,000 after purchasing an additional 2,359 shares in the last quarter. Rhumbline Advisers raised its stake in Viridian Therapeutics by 34.5% during the 2nd quarter. Rhumbline Advisers now owns 90,826 shares of the company’s stock valued at $1,182,000 after purchasing an additional 23,305 shares during the period. Arizona State Retirement System lifted its holdings in Viridian Therapeutics by 14.7% in the 2nd quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock worth $171,000 after purchasing an additional 1,688 shares in the last quarter. Finally, Candriam S.C.A. boosted its stake in Viridian Therapeutics by 167.8% in the 2nd quarter. Candriam S.C.A. now owns 749,804 shares of the company’s stock worth $9,754,000 after purchasing an additional 469,804 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.