Viridian Therapeutics (NASDAQ:VRDN) Trading Up 6.3% – What’s Next?

Viridian Therapeutics, Inc. (NASDAQ:VRDN) shares were up 6.3% during mid-day trading on Friday . The company traded as high as $18.06 and last traded at $18.14. Approximately 390,316 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 1,445,984 shares. The stock had previously closed at $17.06.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on VRDN shares. TD Cowen initiated coverage on shares of Viridian Therapeutics in a research report on Monday, November 25th. They set a “buy” rating on the stock. Wells Fargo & Company reiterated an “equal weight” rating and set a $27.00 price target (down previously from $37.00) on shares of Viridian Therapeutics in a research report on Thursday, December 19th. BTIG Research increased their price objective on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, September 26th. HC Wainwright reiterated a “buy” rating and set a $34.00 target price on shares of Viridian Therapeutics in a research report on Monday, December 16th. Finally, Needham & Company LLC restated a “buy” rating and issued a $38.00 price target on shares of Viridian Therapeutics in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $35.70.

Viridian Therapeutics Stock Performance

The stock has a market capitalization of $1.45 billion, a P/E ratio of -4.25 and a beta of 1.13. The stock has a 50 day simple moving average of $20.02 and a two-hundred day simple moving average of $18.97. The company has a quick ratio of 18.55, a current ratio of 18.55 and a debt-to-equity ratio of 0.04.

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

Hedge Funds Weigh In On Viridian Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Arizona State Retirement System boosted its stake in shares of Viridian Therapeutics by 14.7% during the 2nd quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock worth $171,000 after acquiring an additional 1,688 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Viridian Therapeutics by 17.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,997 shares of the company’s stock valued at $318,000 after purchasing an additional 2,036 shares during the last quarter. AlphaCentric Advisors LLC raised its position in shares of Viridian Therapeutics by 20.0% in the third quarter. AlphaCentric Advisors LLC now owns 15,000 shares of the company’s stock valued at $341,000 after purchasing an additional 2,500 shares during the period. DCF Advisers LLC lifted its stake in shares of Viridian Therapeutics by 22.4% during the 2nd quarter. DCF Advisers LLC now owns 17,750 shares of the company’s stock worth $231,000 after buying an additional 3,250 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Viridian Therapeutics during the 3rd quarter worth about $149,000.

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.