Viridian Therapeutics (NASDAQ:VRDN) Stock Price Up 6.1% – Still a Buy?

Viridian Therapeutics, Inc. (NASDAQ:VRDN)’s share price was up 6.1% during trading on Tuesday . The stock traded as high as $20.25 and last traded at $20.1510. Approximately 872,164 shares traded 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

VRDN has been the subject of a number of research reports. Wedbush upped their price objective on shares of Viridian Therapeutics from $32.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 30th. Royal Bank Of Canada raised their target price 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 issued a $32.00 price target on shares of Viridian Therapeutics in a report on Monday, June 29th. Weiss Ratings cut shares of Viridian Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 30th. Finally, HC Wainwright dropped their price objective on shares of Viridian Therapeutics from $34.00 to $22.00 and set a “buy” rating on the stock in a research note on Tuesday, March 31st. Thirteen analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.79.

Viridian Therapeutics Stock Up 8.5%

The business’s fifty day moving average price is $16.78 and its two-hundred day moving average price is $23.64. The company has a debt-to-equity ratio of 0.10, a quick ratio of 15.15 and a current ratio of 15.15. The firm has a market capitalization of $2.12 billion, a P/E ratio of -6.20 and a beta of 0.90.

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

Insider Transactions at Viridian Therapeutics

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc purchased 1,176,470 shares of Viridian Therapeutics stock in a transaction dated Monday, May 11th. The shares were acquired at an average cost of $17.00 per share, with a total value of $19,999,990.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of Viridian Therapeutics

A number of institutional investors have recently made changes to their positions in VRDN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Viridian Therapeutics by 1.8% during 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. Goldman Sachs Group Inc. raised its stake in Viridian Therapeutics by 33.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,231,092 shares of the company’s stock valued at $16,595,000 after buying an additional 310,998 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Viridian Therapeutics by 12.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 130,570 shares of the company’s stock valued at $1,760,000 after buying an additional 14,788 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in Viridian Therapeutics in the second quarter worth about $187,000. Finally, Creative Planning acquired a new stake in Viridian Therapeutics in the second quarter worth about $179,000.

About Viridian Therapeutics

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.