Viridian Therapeutics (NASDAQ:VRDN) Trading Up 6.1% – Here’s What Happened

Viridian Therapeutics, Inc. (NASDAQ:VRDN)’s share price traded up 6.1% during trading on Tuesday . The company traded as high as $20.25 and last traded at $20.1510. Approximately 872,164 shares changed hands during trading, a decline of 62% from the average daily volume of 2,278,823 shares. The stock had previously closed at $18.99.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on VRDN. Royal Bank Of Canada increased their price target on shares of Viridian Therapeutics from $34.00 to $35.00 and gave the company an “outperform” rating in a research report on Tuesday, June 30th. Needham & Company LLC restated a “buy” rating and set a $32.00 price objective on shares of Viridian Therapeutics in a report on Monday, June 29th. Stifel Nicolaus set a $39.00 target price on shares of Viridian Therapeutics in a research note on Wednesday, May 13th. Weiss Ratings downgraded shares of Viridian Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 30th. Finally, Wall Street Zen upgraded shares of Viridian Therapeutics from a “strong sell” rating to a “sell” rating in a report on Sunday, June 14th. Thirteen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Viridian Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $38.79.

Viridian Therapeutics Price Performance

The company has a current ratio of 15.15, a quick ratio of 15.15 and a debt-to-equity ratio of 0.10. The company has a fifty day moving average price of $17.04 and a two-hundred day moving average price of $23.47. The firm has a market cap of $2.05 billion, a P/E ratio of -5.98 and a beta of 0.90.

Viridian Therapeutics (NASDAQ:VRDN) last posted its earnings results on Tuesday, May 5th. The company reported ($0.90) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.16. The business had revenue of $0.14 million during the quarter, compared to analysts’ expectations of $0.04 million. Viridian Therapeutics had a negative return on equity of 80.19% and a negative net margin of 490.31%.Viridian Therapeutics’s revenue for the quarter was up 95.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.87) EPS. Equities analysts anticipate that Viridian Therapeutics, Inc. will post -3.87 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Fairmount Funds Management Llc bought 1,176,470 shares of Viridian Therapeutics stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $17.00 per share, with a total value of $19,999,990.00. Following the purchase, the director owned 5,090,928 shares in the company, valued at approximately $86,545,776. This trade represents a 30.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.40% of the company’s stock.

Institutional Trading of Viridian Therapeutics

A number of institutional investors have recently modified their holdings of the company. ANTIPODES PARTNERS Ltd bought a new position in shares of Viridian Therapeutics during the fourth quarter worth about $36,000. KBC Group NV acquired a new stake in Viridian Therapeutics in the 1st quarter valued at approximately $34,000. Larson Financial Group LLC bought a new stake in Viridian Therapeutics in the 3rd quarter valued at approximately $52,000. US Bancorp DE lifted its stake in Viridian Therapeutics by 23.2% in the 3rd quarter. US Bancorp DE now owns 2,457 shares of the company’s stock valued at $53,000 after acquiring an additional 463 shares in the last quarter. Finally, State of Wyoming bought a new stake in Viridian Therapeutics in the 1st quarter valued at approximately $93,000.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc (NASDAQ: VRDN) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted antibody therapeutics for patients suffering from rare and serious diseases. The company’s lead program, VRDN-001, is a fully human monoclonal antibody that antagonizes the insulin-like growth factor-1 receptor (IGF-1R), with an initial focus on thyroid eye disease (TED). By selectively inhibiting IGF-1R signaling, VRDN-001 aims to reduce inflammation and tissue remodeling associated with TED and related disorders.

In addition to VRDN-001, Viridian is advancing a second antibody program, VRDN-002, which targets complement-mediated pathways implicated in autoimmune and inflammatory diseases.