Viridian Therapeutics (NASDAQ:VRDN) Trading Up 5.8% – What’s Next?

Viridian Therapeutics, Inc. (NASDAQ:VRDN) shares shot up 5.8% during mid-day trading on Tuesday . The company traded as high as $21.33 and last traded at $21.23. 571,464 shares changed hands during trading, a decline of 60% from the average session volume of 1,425,859 shares. The stock had previously closed at $20.07.

Analyst Ratings Changes

Several equities analysts have recently commented on VRDN shares. Wells Fargo & Company restated an “equal weight” rating and set a $27.00 price target (down previously from $37.00) on shares of Viridian Therapeutics in a research note on Thursday, December 19th. The Goldman Sachs Group boosted their price target on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, September 12th. HC Wainwright reiterated a “buy” rating and set a $34.00 price objective on shares of Viridian Therapeutics in a research note on Monday, December 16th. TD Cowen initiated coverage on shares of Viridian Therapeutics in a research note on Monday, November 25th. They issued a “buy” rating for the company. Finally, BTIG Research upped their price objective on Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Viridian Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $35.70.

Viridian Therapeutics Trading Up 4.8 %

The company’s fifty day moving average price is $20.77 and its 200-day moving average price is $18.75. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of -4.88 and a beta of 1.13. The company has a debt-to-equity ratio of 0.04, a current ratio of 18.55 and a quick ratio of 18.55.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. The firm had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.08 million. On average, research analysts expect that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Viridian Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Quest Partners LLC raised its position in Viridian Therapeutics by 344.0% during the second quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock valued at $79,000 after acquiring an additional 4,692 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Viridian Therapeutics during the third quarter worth $149,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Viridian Therapeutics during the third quarter valued at $208,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Viridian Therapeutics by 24.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock valued at $156,000 after buying an additional 2,359 shares in the last quarter. Finally, Arizona State Retirement System increased its holdings in Viridian Therapeutics by 14.7% in the second quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock valued at $171,000 after buying an additional 1,688 shares in the last quarter.

About Viridian Therapeutics

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.