Viridian Therapeutics, Inc. (NASDAQ:VRDN) Short Interest Update

Viridian Therapeutics, Inc. (NASDAQ:VRDN) was the recipient of a significant decrease in short interest during the month of June. As of June 30th, there was short interest totalling 7,920,000 shares, a decrease of 15.7% from the June 15th total of 9,390,000 shares. Based on an average trading volume of 943,400 shares, the days-to-cover ratio is presently 8.4 days.

Hedge Funds Weigh In On Viridian Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. grew its holdings in Viridian Therapeutics by 19.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock worth $87,000 after acquiring an additional 799 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Viridian Therapeutics by 122.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,369 shares of the company’s stock worth $182,000 after purchasing an additional 4,610 shares during the period. Arizona State Retirement System bought a new stake in Viridian Therapeutics in the fourth quarter worth approximately $208,000. Principal Financial Group Inc. boosted its holdings in shares of Viridian Therapeutics by 9.7% during the 1st quarter. Principal Financial Group Inc. now owns 11,915 shares of the company’s stock worth $209,000 after buying an additional 1,058 shares in the last quarter. Finally, New York State Common Retirement Fund grew its position in shares of Viridian Therapeutics by 9.7% during the 4th quarter. New York State Common Retirement Fund now owns 17,495 shares of the company’s stock worth $378,000 after buying an additional 1,545 shares during the period.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $30.00 price target on shares of Viridian Therapeutics in a research note on Tuesday, June 11th. Wolfe Research initiated coverage on shares of Viridian Therapeutics in a research note on Tuesday, June 11th. They set an “outperform” rating and a $29.00 target price on the stock. B. Riley downgraded Viridian Therapeutics from a “buy” rating to a “neutral” rating and cut their price objective for the company from $25.00 to $20.00 in a report on Thursday, May 9th. LADENBURG THALM/SH SH cut Viridian Therapeutics from a “buy” rating to a “neutral” rating in a report on Thursday, May 9th. Finally, Oppenheimer cut their price target on Viridian Therapeutics from $36.00 to $31.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $32.00.

Viridian Therapeutics Trading Up 5.8 %

Shares of VRDN stock opened at $14.69 on Tuesday. The stock has a 50-day moving average of $12.86 and a 200-day moving average of $16.35. The company has a current ratio of 23.99, a quick ratio of 23.99 and a debt-to-equity ratio of 0.05. The stock has a market cap of $937.52 million, a price-to-earnings ratio of -3.26 and a beta of 1.12. Viridian Therapeutics has a 1-year low of $10.93 and a 1-year high of $24.18.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.79) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.07) by $0.28. Viridian Therapeutics had a negative net margin of 75,737.85% and a negative return on equity of 92.04%. The firm had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.09 million. During the same quarter last year, the business earned ($1.61) EPS. The company’s revenue was down 26.5% compared to the same quarter last year. On average, equities research analysts forecast that Viridian Therapeutics will post -3.61 earnings per share for the current 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.