Viridian Therapeutics (NASDAQ:VRDN) Shares Gap Down – Time to Sell?

Viridian Therapeutics, Inc. (NASDAQ:VRDN) shares gapped down prior to trading on Thursday . The stock had previously closed at $18.93, but opened at $18.13. Viridian Therapeutics shares last traded at $17.21, with a volume of 372,489 shares traded.

Analysts Set New Price Targets

Several equities analysts have commented on VRDN shares. HC Wainwright reiterated a “buy” rating and set a $34.00 price target on shares of Viridian Therapeutics in a report on Monday. Royal Bank of Canada raised their price objective on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the stock an “outperform” rating in a report on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $38.00 price objective on shares of Viridian Therapeutics in a research note on Monday, November 25th. Wells Fargo & Company reissued an “equal weight” rating and issued a $27.00 price target (down previously from $37.00) on shares of Viridian Therapeutics in a report on Thursday. Finally, The Goldman Sachs Group boosted their price target on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Viridian Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $35.70.

Viridian Therapeutics Trading Down 3.6 %

The business’s 50 day simple moving average is $21.87 and its 200 day simple moving average is $18.05. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -4.23 and a beta of 1.04. The company has a quick ratio of 18.55, a current ratio of 18.55 and a debt-to-equity ratio of 0.04.

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

Insiders Place Their Bets

In other Viridian Therapeutics news, CEO Stephen F. Mahoney acquired 21,400 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were bought at an average cost of $23.33 per share, with a total value of $499,262.00. Following the purchase, the chief executive officer now directly owns 21,400 shares of the company’s stock, valued at $499,262. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Thomas W. Beetham bought 5,000 shares of the stock in a transaction on Friday, September 27th. The stock was acquired at an average price of $23.41 per share, with a total value of $117,050.00. Following the completion of the acquisition, the chief operating officer now owns 6,000 shares of the company’s stock, valued at $140,460. This represents a 500.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.65% of the company’s stock.

Institutional Trading of Viridian Therapeutics

Several hedge funds have recently modified their holdings of VRDN. Arizona State Retirement System lifted its holdings in shares of Viridian Therapeutics by 14.7% in the second quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock valued at $171,000 after purchasing an additional 1,688 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Viridian Therapeutics by 17.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,997 shares of the company’s stock valued at $318,000 after acquiring an additional 2,036 shares in the last quarter. AlphaCentric Advisors LLC boosted its holdings in Viridian Therapeutics by 20.0% during the 3rd quarter. AlphaCentric Advisors LLC now owns 15,000 shares of the company’s stock worth $341,000 after acquiring an additional 2,500 shares during the last quarter. DCF Advisers LLC grew its stake in shares of Viridian Therapeutics by 22.4% in the 2nd quarter. DCF Advisers LLC now owns 17,750 shares of the company’s stock worth $231,000 after acquiring an additional 3,250 shares in the last quarter. Finally, Quest Partners LLC raised its holdings in shares of Viridian Therapeutics by 344.0% in the second quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock valued at $79,000 after purchasing an additional 4,692 shares during the last quarter.

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.