Viridian Therapeutics (NASDAQ:VRDN) Sees Large Volume Increase

Viridian Therapeutics, Inc. (NASDAQ:VRDN) shares saw unusually-strong trading volume on Friday . Approximately 411,187 shares changed hands during mid-day trading, a decline of 55% from the previous session’s volume of 923,307 shares.The stock last traded at $15.40 and had previously closed at $15.16.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on VRDN shares. Wedbush increased their price objective on Viridian Therapeutics from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. B. Riley decreased their price target on Viridian Therapeutics from $29.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, March 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price target on shares of Viridian Therapeutics in a report on Wednesday, March 20th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $37.00 price target on shares of Viridian Therapeutics in a report on Thursday, February 29th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $36.60.

Viridian Therapeutics Price Performance

The business has a 50-day moving average of $17.78 and a 200 day moving average of $17.51. The company has a debt-to-equity ratio of 0.09, a quick ratio of 18.26 and a current ratio of 18.26.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($1.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.37). The company had revenue of $0.07 million for the quarter, compared to analysts’ expectations of $0.15 million. Viridian Therapeutics had a negative return on equity of 121.80% and a negative net margin of 75,711.48%. The company’s revenue for the quarter was down 31.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.13) EPS. As a group, sell-side analysts forecast that Viridian Therapeutics, Inc. will post -4.39 earnings per share for the current year.

Insider Buying and Selling

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc purchased 476,190 shares of the stock in a transaction on Monday, January 22nd. The stock was bought at an average price of $21.00 per share, for a total transaction of $9,999,990.00. Following the acquisition, the director now directly owns 1,839,954 shares of the company’s stock, valued at $38,639,034. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.43% of the stock is currently owned by company insiders.

Institutional Trading of Viridian Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co NY lifted its stake in shares of Viridian Therapeutics by 47.0% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 2,340 shares of the company’s stock valued at $68,000 after purchasing an additional 748 shares in the last quarter. Silverarc Capital Management LLC acquired a new position in shares of Viridian Therapeutics in the 4th quarter valued at about $88,000. Royal Bank of Canada lifted its stake in shares of Viridian Therapeutics by 48.8% in the 2nd quarter. Royal Bank of Canada now owns 3,199 shares of the company’s stock valued at $76,000 after purchasing an additional 1,049 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Viridian Therapeutics by 1,874.2% in the 1st quarter. Tower Research Capital LLC TRC now owns 3,218 shares of the company’s stock valued at $82,000 after purchasing an additional 3,055 shares in the last quarter. Finally, Virtus ETF Advisers LLC lifted its stake in shares of Viridian Therapeutics by 34.0% in the 4th quarter. Virtus ETF Advisers LLC now owns 4,787 shares of the company’s stock valued at $104,000 after purchasing an additional 1,215 shares in the last quarter.

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.