Viridian Therapeutics (NASDAQ:VRDN) Director Acquires $9,999,990.00 in Stock

Viridian Therapeutics, Inc. (NASDAQ:VRDN) Director Fairmount Funds Management Llc purchased 454,545 shares of the stock in a transaction on Thursday, October 23rd. The shares were acquired at an average cost of $22.00 per share, with a total value of $9,999,990.00. Following the transaction, the director directly owned 3,914,458 shares in the company, valued at $86,118,076. The trade was a 13.14% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Viridian Therapeutics Stock Down 0.7%

VRDN stock opened at $23.01 on Thursday. Viridian Therapeutics, Inc. has a fifty-two week low of $9.90 and a fifty-two week high of $27.20. The business’s 50 day moving average price is $20.45 and its two-hundred day moving average price is $16.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 11.01 and a current ratio of 11.01. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of -6.01 and a beta of 0.49.

Viridian Therapeutics (NASDAQ:VRDN) last posted its earnings results on Wednesday, August 6th. The company reported ($1.00) earnings per share for the quarter, hitting analysts’ consensus estimates of ($1.00). Viridian Therapeutics had a negative return on equity of 78.95% and a negative net margin of 112,806.88%.The firm had revenue of $0.08 million for the quarter, compared to the consensus estimate of $0.05 million. During the same quarter in the prior year, the business earned ($0.81) EPS. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, analysts forecast that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current fiscal year.

Institutional Trading of Viridian Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Amalgamated Bank grew its stake in shares of Viridian Therapeutics by 49.7% in the 1st quarter. Amalgamated Bank now owns 2,531 shares of the company’s stock worth $34,000 after buying an additional 840 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Viridian Therapeutics by 1.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company’s stock worth $669,000 after buying an additional 876 shares during the last quarter. Swiss National Bank boosted its stake in Viridian Therapeutics by 1.3% during the 2nd quarter. Swiss National Bank now owns 108,900 shares of the company’s stock valued at $1,522,000 after purchasing an additional 1,400 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Viridian Therapeutics by 332.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,940 shares of the company’s stock valued at $42,000 after purchasing an additional 1,491 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC boosted its stake in Viridian Therapeutics by 2.7% during the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 59,281 shares of the company’s stock valued at $799,000 after purchasing an additional 1,570 shares during the last quarter.

Analysts Set New Price Targets

A number of research firms have weighed in on VRDN. The Goldman Sachs Group upped their target price on Viridian Therapeutics from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Oppenheimer upped their target price on Viridian Therapeutics from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Wells Fargo & Company reduced their target price on Viridian Therapeutics from $27.00 to $26.00 and set an “equal weight” rating on the stock in a report on Thursday, August 7th. Royal Bank Of Canada reduced their target price on Viridian Therapeutics from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, August 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Viridian Therapeutics in a research note on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Viridian Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $35.38.

Viridian Therapeutics Company Profile

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.