Viridian Therapeutics Inc. (NASDAQ: VRDN) stock fell -5.25% on Friday to $13.36 against a previous-day closing price of $14.10. With 1.21 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.34 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $14.05 whereas the lowest price it dropped to was $12.80. The 52-week range on VRDN shows that it touched its highest point at $22.00 and its lowest point at $9.47 during that stretch. It currently has a 1-year price target of $33.11. Beta for the stock currently stands at 1.18.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of VRDN was down-trending over the past week, with a drop of -1.11%, but this was up by 18.97% over a month. Three-month performance surged to 7.31% while six-month performance fell -31.49%. The stock lost -7.54% in the past year, while it has lost -32.42% so far this year. A look at the trailing 12-month EPS for VRDN yields -5.76 with Next year EPS estimates of -3.37. For the next quarter, that number is -0.90. This implies an EPS growth rate of 78.60% for this year and 10.20% for next year.
Float and Shares Shorts:
At present, 26.13 million VRDN shares are outstanding with a float of 18.72 million shares on hand for trading. On Jul 14, 2022, short shares totaled 2.64 million, which was 9.44% higher than short shares on Jun 14, 2022. In addition to Dr. Jonathan Violin M.B.A., Ph.D. as the firm’s Co-Founder, CEO, Pres & Director, Mr. Kristian Humer M.B.A. serves as its CFO, Chief Bus. Officer, Principal Financial Officer & Principal Accounting Officer.
Through their ownership of 94.64% of VRDN’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 7.22% of VRDN, in contrast to 60.76% held by mutual funds. Shares owned by individuals account for 11.38%. As the largest shareholder in VRDN with 6.25% of the stake, BVF Partners LP holds 1,744,012 shares worth 1,744,012. A second-largest stockholder of VRDN, Perceptive Advisors LLC, holds 1,423,053 shares, controlling over 5.10% of the firm’s shares. Millennium Management LLC is the third largest shareholder in VRDN, holding 1,422,477 shares or 5.09% stake. With a 2.80% stake in VRDN, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 781,842 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 2.10% of VRDN stock, is the second-largest Mutual Fund holder. It holds 585,327 shares valued at 6.77 million. Vanguard Extended Market Index Fu holds 1.46% of the stake in VRDN, owning 406,221 shares worth 4.7 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for VRDN since 9 analysts follow the stock currently. There are 9 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With VRDN analysts setting a high price target of $40.00 and a low target of $25.00, the average target price over the next 12 months is $33.11. Based on these targets, VRDN could surge 199.4% to reach the target high and rise by 87.13% to reach the target low. Reaching the average price target will result in a growth of 147.83% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. VRDN will report FY 2022 earnings on 03/15/2023. Analysts have provided yearly estimates in a range of -$2.29 being high and -$5.32 being low. For VRDN, this leads to a yearly average estimate of -$3.79. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Viridian Therapeutics Inc. surprised analysts by -$0.01 when it reported -$0.98 EPS against a consensus estimate of -$0.97. The surprise factor in the prior quarter was -$0.48. Based on analyst estimates, the high estimate for the next quarter is -$0.46 and the low estimate is -$1.05. The average estimate for the next quarter is thus -$0.90.
Summary of Insider Activity:
Insiders traded VRDN stock several times over the past three months with 0 Buys and 1 Sells. In these transactions, 0 shares were bought while 30,000 shares were sold. The number of buy transactions has increased to 3 while that of sell transactions has risen to 9 over the past year. The total number of shares bought during that period was 1,736,564 while 150,000 shares were sold.