Viridian Therapeutics (NASDAQ:VRDN) Shares Up 2.9%

Viridian Therapeutics, Inc. (NASDAQ:VRDN)’s stock price was up 2.9% on Tuesday . The stock traded as high as $15.48 and last traded at $15.11. Approximately 96,704 shares changed hands during trading, a decline of 90% from the average daily volume of 945,259 shares. The stock had previously closed at $14.68.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on VRDN shares. B. Riley cut Viridian Therapeutics from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $25.00 to $20.00 in a report on Thursday, May 9th. The Goldman Sachs Group began coverage on Viridian Therapeutics in a report on Thursday, June 6th. They issued a “buy” rating and a $23.00 target price on the stock. Wedbush reiterated an “outperform” rating and issued a $42.00 target price on shares of Viridian Therapeutics in a report on Monday, July 29th. Wolfe Research began coverage on Viridian Therapeutics in a report on Tuesday, June 11th. They issued an “outperform” rating and a $29.00 target price on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $35.00 target price on shares of Viridian Therapeutics in a report on Wednesday, August 28th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Viridian Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.20.

Viridian Therapeutics Price Performance

The company has a market capitalization of $860.60 million, a price-to-earnings ratio of -2.99 and a beta of 1.03. The business has a 50-day moving average price of $14.69 and a two-hundred day moving average price of $15.08. The company has a quick ratio of 15.82, a current ratio of 15.82 and a debt-to-equity ratio of 0.05.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.15). The company had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $0.09 million. Viridian Therapeutics had a negative net margin of 79,185.77% and a negative return on equity of 83.18%. As a group, research analysts anticipate that Viridian Therapeutics, Inc. will post -3.97 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in VRDN. Vestal Point Capital LP bought a new position in Viridian Therapeutics in the 4th quarter worth about $21,780,000. Novo Holdings A S raised its holdings in shares of Viridian Therapeutics by 81.8% in the 2nd quarter. Novo Holdings A S now owns 2,000,000 shares of the company’s stock valued at $26,020,000 after acquiring an additional 900,000 shares in the last quarter. Perceptive Advisors LLC raised its holdings in shares of Viridian Therapeutics by 71.1% in the 4th quarter. Perceptive Advisors LLC now owns 1,730,212 shares of the company’s stock valued at $37,684,000 after acquiring an additional 719,007 shares in the last quarter. Maverick Capital Ltd. raised its holdings in shares of Viridian Therapeutics by 22.9% in the 2nd quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock valued at $43,036,000 after acquiring an additional 615,531 shares in the last quarter. Finally, RTW Investments LP purchased a new position in shares of Viridian Therapeutics during the 4th quarter valued at about $13,195,000.

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.