Viridian Therapeutics, Inc. (NASDAQ:VRDN) Sees Large Growth in Short Interest

Viridian Therapeutics, Inc. (NASDAQ:VRDN) saw a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 9,470,000 shares, a growth of 24.3% from the March 15th total of 7,620,000 shares. Based on an average daily volume of 962,900 shares, the short-interest ratio is currently 9.8 days.

Analyst Upgrades and Downgrades

VRDN has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $30.00 target price on shares of Viridian Therapeutics in a research report on Wednesday, March 20th. Oppenheimer upped their price objective on Viridian Therapeutics from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Tuesday, December 19th. Wedbush increased their target price on Viridian Therapeutics from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. HC Wainwright reissued a “buy” rating and set a $37.00 target price on shares of Viridian Therapeutics in a research note on Thursday, February 29th. Finally, B. Riley decreased their price objective on shares of Viridian Therapeutics from $29.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, March 21st. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $36.60.

Insider Buying and Selling

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc acquired 476,190 shares of the stock in a transaction on Monday, January 22nd. The stock was acquired at an average price of $21.00 per share, for a total transaction of $9,999,990.00. Following the completion of the transaction, the director now directly owns 1,839,954 shares of the company’s stock, valued at $38,639,034. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.43% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Viridian Therapeutics

A number of large investors have recently bought and sold shares of VRDN. Dark Forest Capital Management LP bought a new stake in Viridian Therapeutics during the 3rd quarter valued at $264,000. Schonfeld Strategic Advisors LLC boosted its position in Viridian Therapeutics by 362.3% during the third quarter. Schonfeld Strategic Advisors LLC now owns 108,037 shares of the company’s stock valued at $1,657,000 after purchasing an additional 84,670 shares in the last quarter. StoneCrest Wealth Management Inc. purchased a new position in Viridian Therapeutics in the fourth quarter valued at about $605,000. SG Americas Securities LLC raised its holdings in Viridian Therapeutics by 150.5% in the third quarter. SG Americas Securities LLC now owns 102,667 shares of the company’s stock worth $1,575,000 after purchasing an additional 61,676 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Viridian Therapeutics by 25.2% during the third quarter. Wellington Management Group LLP now owns 215,648 shares of the company’s stock valued at $3,308,000 after buying an additional 43,349 shares during the last quarter.

Viridian Therapeutics Stock Performance

VRDN stock opened at $15.89 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 18.26 and a quick ratio of 18.26. Viridian Therapeutics has a 1-year low of $10.93 and a 1-year high of $30.30. The business has a 50-day moving average price of $18.02 and a 200 day moving average price of $17.51. The company has a market capitalization of $997.38 million, a P/E ratio of -2.99 and a beta of 1.07.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($1.35) EPS for the quarter, missing the consensus estimate of ($0.98) by ($0.37). Viridian Therapeutics had a negative net margin of 75,711.48% and a negative return on equity of 121.80%. The business had revenue of $0.07 million during the quarter, compared to the consensus estimate of $0.15 million. During the same quarter in the prior year, the firm posted ($1.13) EPS. The company’s revenue for the quarter was down 31.4% compared to the same quarter last year. As a group, equities research analysts forecast that Viridian Therapeutics will post -4.39 EPS for the current fiscal year.

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.