Viridian Therapeutics (NASDAQ:VRDN) Trading Up 2.3%

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) were up 2.3% during trading on Wednesday . The company traded as high as $21.66 and last traded at $21.65. Approximately 31,774 shares traded hands during trading, a decline of 97% from the average daily volume of 1,134,500 shares. The stock had previously closed at $21.17.

Analysts Set New Price Targets

A number of analysts recently commented on VRDN shares. HC Wainwright restated a “buy” rating and set a $27.00 price target on shares of Viridian Therapeutics in a research note on Tuesday, September 10th. Oppenheimer reaffirmed an “outperform” rating and set a $28.00 target price (down previously from $31.00) on shares of Viridian Therapeutics in a report on Monday, August 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $44.00 target price on shares of Viridian Therapeutics in a report on Thursday, September 19th. Needham & Company LLC increased their price target on shares of Viridian Therapeutics from $30.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, Wedbush reissued an “outperform” rating and issued a $42.00 price target on shares of Viridian Therapeutics in a report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.30.

Viridian Therapeutics Stock Down 1.1 %

The firm has a market cap of $1.34 billion, a PE ratio of -4.70 and a beta of 1.03. The company has a debt-to-equity ratio of 0.05, a quick ratio of 15.82 and a current ratio of 15.82. The company’s 50-day simple moving average is $16.52 and its two-hundred day simple moving average is $15.11.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.15). Viridian Therapeutics had a negative net margin of 79,185.77% and a negative return on equity of 83.18%. The firm had revenue of $0.07 million for the quarter, compared to analysts’ expectations of $0.09 million. On average, analysts predict that Viridian Therapeutics, Inc. will post -3.94 earnings per share for the current fiscal year.

Insider Transactions at Viridian Therapeutics

In related news, Director Fairmount Funds Management Llc bought 1,600,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was purchased at an average cost of $18.75 per share, with a total value of $30,000,000.00. Following the transaction, the director now owns 3,445,813 shares in the company, valued at approximately $64,608,993.75. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Novo Holdings A S lifted its position in Viridian Therapeutics by 81.8% during the 2nd quarter. Novo Holdings A S now owns 2,000,000 shares of the company’s stock valued at $26,020,000 after acquiring an additional 900,000 shares during the period. Algert Global LLC lifted its position in Viridian Therapeutics by 46.7% during the 2nd quarter. Algert Global LLC now owns 55,493 shares of the company’s stock valued at $722,000 after acquiring an additional 17,673 shares during the period. The Manufacturers Life Insurance Company lifted its position in Viridian Therapeutics by 30.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,687 shares of the company’s stock valued at $412,000 after acquiring an additional 7,450 shares during the period. Millennium Management LLC lifted its position in Viridian Therapeutics by 1,014.7% during the 2nd quarter. Millennium Management LLC now owns 228,182 shares of the company’s stock valued at $2,969,000 after acquiring an additional 207,711 shares during the period. Finally, Maverick Capital Ltd. lifted its position in Viridian Therapeutics by 22.9% during the 2nd quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock valued at $43,036,000 after acquiring an additional 615,531 shares during the period.

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.