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

Viridian Therapeutics, Inc. (NASDAQ:VRDN) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $35.00 and last traded at $33.28, with a volume of 3332 shares traded. The stock had previously closed at $33.54.

Analyst Ratings Changes

VRDN has been the subject of a number of research reports. Truist Financial dropped their price objective on shares of Viridian Therapeutics from $41.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Evercore ISI restated an “outperform” rating and issued a $44.00 price target on shares of Viridian Therapeutics in a research note on Tuesday, January 20th. Royal Bank Of Canada upped their price objective on Viridian Therapeutics from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. William Blair started coverage on Viridian Therapeutics in a report on Wednesday, December 3rd. They issued an “outperform” rating for the company. Finally, BTIG Research reissued a “buy” rating and set a $61.00 target price on shares of Viridian Therapeutics in a research note on Tuesday, November 4th. Thirteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $42.43.

Viridian Therapeutics Trading Down 1.4%

The stock has a market cap of $3.16 billion, a price-to-earnings ratio of -10.98 and a beta of 0.90. The business’s 50 day moving average is $31.88 and its 200 day moving average is $24.47. The company has a debt-to-equity ratio of 0.07, a current ratio of 11.28 and a quick ratio of 11.28.

Viridian Therapeutics (NASDAQ:VRDN) last announced 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. Viridian Therapeutics had a negative return on equity of 78.50% and a negative net margin of 426.58%.The company had revenue of $70.57 million during the quarter, compared to the consensus estimate of $16.21 million. The firm’s revenue for the quarter was up 81993.0% compared to the same quarter last year. As a group, equities analysts expect that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Viridian Therapeutics news, insider Jennifer Tousignant sold 2,272 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $31.16, for a total transaction of $70,795.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.65% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Viridian Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Commodore Capital LP grew its holdings 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 purchasing an additional 1,275,000 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Viridian Therapeutics by 314.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,122,532 shares of the company’s stock valued at $24,224,000 after purchasing an additional 851,989 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Viridian Therapeutics by 135.6% in the 3rd quarter. Fisher Asset Management LLC now owns 1,201,226 shares of the company’s stock valued at $25,922,000 after purchasing an additional 691,267 shares during the period. Rice Hall James & Associates LLC grew its stake in Viridian Therapeutics by 65.2% during the 3rd quarter. Rice Hall James & Associates LLC now owns 851,663 shares of the company’s stock worth $18,379,000 after buying an additional 336,040 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Viridian Therapeutics by 33.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,231,092 shares of the company’s stock worth $16,595,000 after buying an additional 310,998 shares during the period.

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.