Viridian Therapeutics (NASDAQ:VRDN) Trading 7.9% Higher – What’s Next?

Viridian Therapeutics, Inc. (NASDAQ:VRDN) shares were up 7.9% during mid-day trading on Monday . The stock traded as high as $17.80 and last traded at $17.9440. 181,945 shares changed hands during trading, a decline of 92% from the average daily volume of 2,203,457 shares. The stock had previously closed at $16.63.

Analyst Ratings Changes

A number of research firms recently issued reports on VRDN. Stifel Nicolaus set a $39.00 price target on shares of Viridian Therapeutics in a research note on Wednesday, May 13th. Wedbush dropped their price objective on shares of Viridian Therapeutics from $37.00 to $31.00 and set an “outperform” rating for the company in a research note on Wednesday, April 8th. Wall Street Zen upgraded shares of Viridian Therapeutics from a “strong sell” rating to a “sell” rating in a report on Sunday, June 14th. Evercore set a $26.00 target price on shares of Viridian Therapeutics in a research report on Friday, May 15th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $32.00 price target on shares of Viridian Therapeutics in a report on Tuesday, May 5th. Twelve 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’s stock. According to data from MarketBeat, Viridian Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $36.14.

Viridian Therapeutics Stock Up 5.5%

The stock has a market cap of $1.81 billion, a PE ratio of -5.29 and a beta of 0.90. The business has a fifty day moving average of $16.01 and a 200-day moving average of $24.71. The company has a debt-to-equity ratio of 0.10, a current ratio of 15.15 and a quick ratio of 15.15.

Viridian Therapeutics (NASDAQ:VRDN) last posted its earnings results on Tuesday, May 5th. The company reported ($0.90) EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $0.14 million for the quarter, compared to the consensus estimate of $0.04 million. During the same quarter last year, the firm posted ($0.87) EPS. The company’s revenue for the quarter was up 95.8% on a year-over-year basis. Equities research analysts anticipate that Viridian Therapeutics, Inc. will post -3.87 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Fairmount Funds Management Llc bought 1,176,470 shares of the stock in a transaction on Monday, May 11th. The stock was bought at an average price of $17.00 per share, for a total transaction of $19,999,990.00. Following the completion of the acquisition, the director directly owned 5,090,928 shares in the company, valued at approximately $86,545,776. This represents a 30.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in VRDN. MetLife Investment Management LLC boosted its stake in Viridian Therapeutics by 0.8% in the fourth quarter. MetLife Investment Management LLC now owns 43,985 shares of the company’s stock valued at $1,369,000 after acquiring an additional 356 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Viridian Therapeutics by 0.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,360 shares of the company’s stock worth $4,337,000 after purchasing an additional 380 shares during the last quarter. US Bancorp DE increased its position in shares of Viridian Therapeutics by 23.2% during the third quarter. US Bancorp DE now owns 2,457 shares of the company’s stock worth $53,000 after purchasing an additional 463 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Viridian Therapeutics by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 216,525 shares of the company’s stock valued at $4,235,000 after purchasing an additional 659 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of 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 valued at $669,000 after purchasing an additional 876 shares during the last quarter.

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.