Viridian Therapeutics (NASDAQ:VRDN) Sets New 1-Year High – Should You Buy?

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) reached a new 52-week high on Monday . The stock traded as high as $31.66 and last traded at $31.7550, with a volume of 119998 shares traded. The stock had previously closed at $30.34.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC lowered their target price on shares of Viridian Therapeutics from $36.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. The Goldman Sachs Group restated a “buy” rating and set a $40.00 price objective on shares of Viridian Therapeutics in a research report on Thursday, November 6th. Truist Financial set a $41.00 target price on shares of Viridian Therapeutics in a research report on Monday. Wall Street Zen raised Viridian Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Jefferies Financial Group began coverage on Viridian Therapeutics in a research report on Monday, August 25th. They set a “buy” rating and a $44.00 price target on the stock. Ten 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $39.90.

Viridian Therapeutics Stock Up 5.7%

The company has a debt-to-equity ratio of 0.04, a current ratio of 11.01 and a quick ratio of 11.01. The stock has a market capitalization of $3.06 billion, a PE ratio of -8.35 and a beta of 0.72. The company has a 50 day moving average price of $23.22 and a 200-day moving average price of $18.67.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.48. The company had revenue of $70.57 million during the quarter, compared to the consensus estimate of $16.21 million. Viridian Therapeutics had a negative net margin of 112,806.88% and a negative return on equity of 78.95%. Viridian Therapeutics’s revenue was up 81993.0% on a year-over-year basis. As a group, analysts forecast that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current fiscal year.

Insider Transactions at Viridian Therapeutics

In other news, Director Fairmount Funds Management Llc acquired 454,545 shares of the stock in a transaction on Thursday, October 23rd. The stock was acquired at an average price of $22.00 per share, with a total value of $9,999,990.00. Following the completion of the transaction, the director owned 3,914,458 shares of the company’s stock, valued at $86,118,076. This represents a 13.14% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.58% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Aster Capital Management DIFC Ltd purchased a new position in Viridian Therapeutics during the 3rd quarter valued at about $35,000. Farther Finance Advisors LLC increased its stake in shares of Viridian Therapeutics by 332.1% during the third quarter. Farther Finance Advisors LLC now owns 1,940 shares of the company’s stock valued at $42,000 after purchasing an additional 1,491 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Viridian Therapeutics by 947.7% during the third quarter. Bessemer Group Inc. now owns 2,085 shares of the company’s stock valued at $45,000 after purchasing an additional 1,886 shares during the last quarter. Larson Financial Group LLC bought a new stake in shares of Viridian Therapeutics in the 3rd quarter worth approximately $52,000. Finally, US Bancorp DE boosted its position in shares of Viridian Therapeutics by 23.2% in the 3rd 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.

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.