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

Viridian Therapeutics, Inc. (NASDAQ:VRDN) shares gapped down prior to trading 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.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on VRDN. Royal Bank Of Canada reduced their target price on Viridian Therapeutics from $45.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Truist Financial dropped their price target on Viridian Therapeutics from $41.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Wall Street Zen downgraded Viridian Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Evercore reissued an “outperform” rating and set a $44.00 price objective on shares of Viridian Therapeutics in a research report on Tuesday, January 20th. Finally, Wells Fargo & Company boosted their target price 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. Thirteen 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $42.21.

Viridian Therapeutics Stock Down 33.4%

The company has a quick ratio of 12.65, a current ratio of 12.65 and a debt-to-equity ratio of 0.08. The company’s fifty day moving average price is $29.72 and its 200-day moving average price is $27.89. The stock has a market capitalization of $1.86 billion, a PE ratio of -5.54 and a beta of 1.00.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings results 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 company had revenue of $0.13 million during the quarter, compared to analysts’ expectations of $15.75 million. Viridian Therapeutics had a negative return on equity of 83.25% and a negative net margin of 483.57%. Analysts forecast that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current year.

Insider Buying and Selling at Viridian Therapeutics

In other news, insider Jennifer Tousignant sold 2,272 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $31.16, for a total transaction of $70,795.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.58% of the stock is owned by insiders.

Institutional Trading of Viridian Therapeutics

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

About Viridian Therapeutics

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.