Viridian Therapeutics (NASDAQ:VRDN) Reaches New 52-Week High – What’s Next?

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) reached a new 52-week high on Wednesday . The stock traded as high as $34.04 and last traded at $34.0850, with a volume of 512821 shares changing hands. The stock had previously closed at $31.99.

Analyst Ratings Changes

Several brokerages recently commented on VRDN. Wedbush boosted their price target on Viridian Therapeutics from $42.00 to $47.00 and gave the company an “outperform” rating in a research note on Wednesday, December 10th. Needham & Company LLC boosted their target price on shares of Viridian Therapeutics from $34.00 to $42.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. Wall Street Zen upgraded shares of Viridian Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. William Blair started coverage on shares of Viridian Therapeutics in a research report on Wednesday, December 3rd. They issued an “outperform” rating on the stock. Finally, BTIG Research reaffirmed a “buy” rating and set a $61.00 price objective on shares of Viridian Therapeutics in a research note on Tuesday, November 4th. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.31.

Viridian Therapeutics Trading Up 0.7%

The company has a current ratio of 11.28, a quick ratio of 11.28 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.17 billion, a P/E ratio of -11.01 and a beta of 0.90. The business’s fifty day simple moving average is $31.28 and its 200 day simple moving average is $23.54.

Viridian Therapeutics (NASDAQ:VRDN) last announced its earnings results on Wednesday, November 5th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.48. Viridian Therapeutics had a negative net margin of 426.58% and a negative return on equity of 78.50%. The company had revenue of $70.57 million during the quarter, compared to the consensus estimate of $16.21 million. Viridian Therapeutics’s quarterly revenue was up 81993.0% on a year-over-year basis. As a group, analysts expect that Viridian Therapeutics, Inc. will post -4.03 EPS for the current year.

Insiders Place Their Bets

In other news, Director Fairmount Funds Management Llc purchased 454,545 shares of the firm’s stock in a transaction that occurred on Thursday, October 23rd. The shares were acquired at an average price of $22.00 per share, for a total transaction of $9,999,990.00. Following the completion of the acquisition, the director directly owned 3,914,458 shares in the company, valued at approximately $86,118,076. The trade was a 13.14% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Tousignant sold 2,272 shares of Viridian Therapeutics stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $31.16, for a total value of $70,795.52. The disclosure for this sale is available in the SEC filing. 1.58% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of VRDN. Commodore Capital LP raised its stake in shares of Viridian Therapeutics by 35.4% during the second quarter. Commodore Capital LP now owns 4,875,000 shares of the company’s stock worth $68,152,000 after buying an additional 1,275,000 shares during the last quarter. Wellington Management Group LLP grew its holdings in Viridian Therapeutics by 314.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,122,532 shares of the company’s stock worth $24,224,000 after acquiring an additional 851,989 shares during the period. Fisher Asset Management LLC raised its position in shares of Viridian Therapeutics by 135.6% during the 3rd quarter. Fisher Asset Management LLC now owns 1,201,226 shares of the company’s stock valued at $25,922,000 after acquiring an additional 691,267 shares during the last quarter. Rice Hall James & Associates LLC lifted its stake in shares of Viridian Therapeutics by 65.2% in the 3rd quarter. Rice Hall James & Associates LLC now owns 851,663 shares of the company’s stock valued at $18,379,000 after purchasing an additional 336,040 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Viridian Therapeutics by 33.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,231,092 shares of the company’s stock worth $16,595,000 after purchasing an additional 310,998 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.