Viridian Therapeutics, Inc. (VRDN) Stock Jumps 5.2%: Will It Continue to Soar?
Viridian Therapeutics, Inc. (VRDN) shares soared 5.2% in the last trading session to close at $13.02. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 19.3% loss over the past four weeks.
The sudden soaring of the stock price is likely due to the appointment of a new President and Chief Executive Officer, and a member of the Board of Directors of the company, effective immediately. In the same press release, Viridian also announced a preclinical portfolio of FcRn inhibitors designed to deliver next generation treatments for patients suffering from antibody-mediated autoimmune diseases. This has also likely contributed to the uptick in the stock price.
This company is expected to post quarterly loss of $1.20 per share in its upcoming report, which represents a year-over-year change of -39.5%. Revenues are expected to be $0.28 million, down 76.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Viridian Therapeutics, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on VRDN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Viridian Therapeutics, Inc. belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, iTeos Therapeutics, Inc. (ITOS), closed the last trading session 5.2% higher at $9.36. Over the past month, ITOS has returned -18.7%.
iTeos Therapeutics, Inc.'s consensus EPS estimate for the upcoming report has changed +46.1% over the past month to -$1.20. Compared to the company's year-ago EPS, this represents a change of -4100%. iTeos Therapeutics, Inc. currently boasts a Zacks Rank of #3 (Hold).
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Viridian Therapeutics, Inc. (VRDN) : Free Stock Analysis Report
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