Viridian Therapeutics (NASDAQ:VRDN) Reaches New 12-Month High – Should You Buy?

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $28.86 and last traded at $28.43, with a volume of 1986131 shares trading hands. The stock had previously closed at $27.65.

Wall Street Analyst Weigh In

VRDN has been the topic of a number of analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Viridian Therapeutics in a report on Thursday, November 6th. Jefferies Financial Group initiated coverage on Viridian Therapeutics in a research note on Monday, August 25th. They set a “buy” rating and a $44.00 target price on the stock. Oppenheimer raised their price target on Viridian Therapeutics from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Tuesday, October 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Viridian Therapeutics in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised Viridian Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.78.

Viridian Therapeutics Price Performance

The stock’s fifty day moving average price is $21.68 and its 200-day moving average price is $17.77. 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 firm has a market cap of $2.73 billion, a price-to-earnings ratio of -7.44 and a beta of 0.72.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.82) by $0.48. Viridian Therapeutics had a negative net margin of 112,806.88% and a negative return on equity of 78.95%. The business had revenue of $0.07 million for the quarter, compared to analysts’ expectations of $16.21 million. The firm’s quarterly revenue was up 81993.0% on a year-over-year basis. Equities research analysts predict that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Insider Activity at Viridian Therapeutics

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc bought 454,545 shares of the stock in a transaction on Thursday, October 23rd. The shares were purchased at an average price of $22.00 per share, with a total value of $9,999,990.00. Following the acquisition, the director directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.58% of the company’s stock.

Hedge Funds Weigh In On Viridian Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Commodore Capital LP grew its holdings in shares of Viridian Therapeutics by 35.4% during the 2nd 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 in the last quarter. Rice Hall James & Associates LLC lifted its position in shares of Viridian Therapeutics by 65.2% during the third quarter. Rice Hall James & Associates LLC now owns 851,663 shares of the company’s stock worth $18,379,000 after purchasing an additional 336,040 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Viridian Therapeutics by 33.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,231,092 shares of the company’s stock valued at $16,595,000 after purchasing an additional 310,998 shares during the last quarter. HighVista Strategies LLC increased its stake in shares of Viridian Therapeutics by 168.4% in the 2nd quarter. HighVista Strategies LLC now owns 484,559 shares of the company’s stock valued at $6,774,000 after buying an additional 304,008 shares during the period. Finally, Paradigm Biocapital Advisors LP lifted its position in Viridian Therapeutics by 15.1% during the 1st quarter. Paradigm Biocapital Advisors LP now owns 2,095,079 shares of the company’s stock valued at $28,242,000 after purchasing an additional 275,000 shares during the period.

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.