Viridian Therapeutics Inc. (NASDAQ:VRDN) closed Wednesday at $16.75 per share, down from $17.75 a day earlier. While Viridian Therapeutics Inc. has underperformed by -5.63%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, VRDN fell by -25.16%, with highs and lows ranging from $39.00 to $17.49, whereas the simple moving average fell by -36.42% in the last 200 days.
On June 14, 2023, Credit Suisse started tracking Viridian Therapeutics Inc. (NASDAQ: VRDN) recommending Outperform.
Analysis of Viridian Therapeutics Inc. (VRDN)
Further, the quarter-over-quarter decrease in sales is -66.70%, showing a negative trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Viridian Therapeutics Inc.’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -86.40% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 12.10, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and VRDN is recording an average volume of 754.79K. On a monthly basis, the volatility of the stock is set at 4.15%, whereas on a weekly basis, it is put at 5.15%, with a loss of -11.61% over the past seven days. Furthermore, long-term investors anticipate a median target price of $44.00, showing growth from the present price of $16.75, which can serve as yet another indication of whether VRDN is worth investing in or should be passed over.
How Do You Analyze Viridian Therapeutics Inc. Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.49%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 95.00% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in VRDN shares?
The recent increase in stakes in VRDN appears to be a result of several institutional investors and hedge funds increasing their positions. SSgA Funds Management, Inc.’s position in VRDN has increased by 21.51% in the first quarter. The company now owns 2,918,369 shares of the stock, with a value of $54.75 million, following the purchase of 516,557 additional shares during the last quarter. BlackRock Fund Advisors made another increased to its shares in VRDN during the first quarter, upping its stake by 13.98%. During the last quarter, the company picked up 335,309 additional shares for a total stake of worth $51.27 million, bringing number of shares owned by the company to 2,732,979.
During the first quarter, The Vanguard Group, Inc. added a 456,530 position in VRDN. Paradigm BioCapital Advisors LP purchased an additional 0.33 million shares in the last quarter, increasing its holdings by 15.80%, now holding 2.42 million shares worth $45.31 million. At the end of the first quarter, Commodore Capital LP increased its VRDN holdings by 0.47% and now holds 2.2 million VRDN shares valued at $41.27 million with the added 10341.0 shares during the period. VRDN shares are owned by institutional investors to the tune of 95.00% at present.