Viridian Therapeutics (NASDAQ:VRDN) Sets New 1-Year High – Here’s Why

Viridian Therapeutics, Inc. (NASDAQ:VRDN) shares reached a new 52-week high during trading on Monday . The company traded as high as $34.00 and last traded at $33.91, with a volume of 17346 shares trading hands. The stock had previously closed at $32.31.

Analyst Upgrades and Downgrades

VRDN has been the topic of several recent analyst reports. The Goldman Sachs Group reiterated a “buy” rating and set a $40.00 target price on shares of Viridian Therapeutics in a report on Thursday, November 6th. Oppenheimer raised their target price on shares of Viridian Therapeutics from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Royal Bank Of Canada upped their price target on shares of Viridian Therapeutics from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Viridian Therapeutics in a report on Wednesday, October 8th. Finally, William Blair initiated coverage on Viridian Therapeutics in a research report on Wednesday, December 3rd. They issued an “outperform” rating on the stock. Eleven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $41.08.

Viridian Therapeutics Stock Up 4.3%

The firm has a market capitalization of $3.21 billion, a P/E ratio of -11.20 and a beta of 0.86. The firm’s 50 day moving average is $26.78 and its two-hundred day moving average is $20.64. The company has a debt-to-equity ratio of 0.07, a current ratio of 11.28 and a quick ratio of 11.28.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.48. The firm had revenue of $70.57 million during the quarter, compared to analysts’ expectations of $16.21 million. Viridian Therapeutics had a negative net margin of 426.58% and a negative return on equity of 78.50%. The company’s quarterly revenue was up 81993.0% on a year-over-year basis. Research analysts predict that Viridian Therapeutics, Inc. will post -4.03 EPS for the current year.

Insiders Place Their Bets

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc acquired 454,545 shares of the company’s stock in a transaction on Thursday, October 23rd. The shares were purchased at an average price of $22.00 per share, for a total transaction of $9,999,990.00. Following the completion of the purchase, the director directly owned 3,914,458 shares of the company’s stock, valued at approximately $86,118,076. This represents a 13.14% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.65% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in VRDN. US Bancorp DE lifted its holdings in Viridian Therapeutics by 23.2% during the 3rd quarter. US Bancorp DE now owns 2,457 shares of the company’s stock valued at $53,000 after purchasing an additional 463 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Viridian Therapeutics by 1.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company’s stock valued at $669,000 after buying an additional 876 shares in the last quarter. Sei Investments Co. grew its position in Viridian Therapeutics by 10.0% during the third quarter. Sei Investments Co. now owns 11,556 shares of the company’s stock worth $249,000 after buying an additional 1,046 shares in the last quarter. Knights of Columbus Asset Advisors LLC increased its stake in Viridian Therapeutics by 2.4% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 59,410 shares of the company’s stock worth $1,282,000 after acquiring an additional 1,386 shares during the period. Finally, Swiss National Bank increased 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 worth $1,522,000 after acquiring an additional 1,400 shares during the period.

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.