Viridian Therapeutics (NASDAQ:VRDN) Stock Price Up 6.1% – Here’s What Happened

Viridian Therapeutics, Inc. (NASDAQ:VRDN)’s stock price rose 6.1% on Tuesday . The stock traded as high as $20.25 and last traded at $20.1510. 872,164 shares changed hands during trading, a decline of 62% from the average daily volume of 2,278,823 shares. The stock had previously closed at $18.99.

Wall Street Analyst Weigh In

Several research firms have commented on VRDN. Evercore set a $26.00 price objective on shares of Viridian Therapeutics in a research note on Friday, May 15th. Royal Bank Of Canada increased their target price on shares of Viridian Therapeutics from $34.00 to $35.00 and gave the company an “outperform” rating in a research note on Tuesday, June 30th. Truist Financial raised their target price on shares of Viridian Therapeutics from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Weiss Ratings cut shares of Viridian Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 30th. Finally, Wall Street Zen upgraded shares of Viridian Therapeutics from a “strong sell” rating to a “sell” rating in a report on Sunday, June 14th. Thirteen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Viridian Therapeutics has an average rating of “Moderate Buy” and an average target price of $38.79.

Viridian Therapeutics Stock Performance

The firm has a market cap of $2.12 billion, a PE ratio of -6.20 and a beta of 0.90. The business has a 50 day simple moving average of $16.78 and a two-hundred day simple moving average of $23.64. The company has a quick ratio of 15.15, a current ratio of 15.15 and a debt-to-equity ratio of 0.10.

Viridian Therapeutics (NASDAQ:VRDN) last issued its earnings results on Tuesday, May 5th. The company reported ($0.90) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.16. The firm had revenue of $0.14 million during the quarter, compared to analyst estimates of $0.04 million. Viridian Therapeutics had a negative net margin of 490.31% and a negative return on equity of 80.19%. The business’s revenue was up 95.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.87) earnings per share. As a group, equities research analysts forecast that Viridian Therapeutics, Inc. will post -3.87 earnings per share for the current fiscal year.

Insider Transactions at Viridian Therapeutics

In related news, Director Fairmount Funds Management Llc acquired 1,176,470 shares of the stock in a transaction on Monday, May 11th. The stock was bought at an average cost of $17.00 per share, with a total value of $19,999,990.00. Following the transaction, the director directly owned 5,090,928 shares in the company, valued at approximately $86,545,776. This represents a 30.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.40% of the stock is currently owned by company insiders.

Institutional Trading of Viridian Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of VRDN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Viridian Therapeutics by 1.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company’s stock worth $669,000 after purchasing an additional 876 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Viridian Therapeutics by 33.8% during 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Viridian Therapeutics by 12.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 130,570 shares of the company’s stock valued at $1,760,000 after purchasing an additional 14,788 shares in the last quarter. Envestnet Asset Management Inc. bought a new stake in Viridian Therapeutics during the 2nd quarter valued at $187,000. Finally, Creative Planning purchased a new stake in shares of Viridian Therapeutics in the 2nd quarter worth $179,000.

About Viridian Therapeutics

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.