Viridian Therapeutics (NASDAQ:VRDN) Shares Climb 7.8% – What’s Next?

Viridian Therapeutics, Inc. (NASDAQ:VRDN) shares were up 7.8% on Monday. The stock traded as high as $20.32 and last traded at $20.5090. Approximately 641,326 shares traded hands during trading, a decline of 69% from the average session volume of 2,100,006 shares. The stock had previously closed at $19.03.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada boosted their price objective on shares of Viridian Therapeutics from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Tuesday, September 22nd. Wells Fargo & Company upgraded Viridian Therapeutics from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $20.00 to $31.00 in a research note on Monday, June 29th. Wedbush increased their target price on Viridian Therapeutics from $32.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, June 30th. The Goldman Sachs Group reissued a “buy” rating and issued a $39.00 target price on shares of Viridian Therapeutics in a report on Tuesday, June 30th. Finally, Truist Financial boosted their price target on Viridian Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Twelve research 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 a consensus rating of “Moderate Buy” and a consensus price target of $38.69.

Viridian Therapeutics Stock Up 7.8%

The company has a quick ratio of 16.95, a current ratio of 16.95 and a debt-to-equity ratio of 0.43. The company has a market cap of $2.32 billion, a PE ratio of -6.07 and a beta of 1.11. The company’s fifty day moving average is $21.65 and its 200-day moving average is $18.85.

Viridian Therapeutics (NASDAQ:VRDN) last announced its earnings results on Thursday, August 6th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.02). The company had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.06 million. Viridian Therapeutics had a negative net margin of 505.86% and a negative return on equity of 72.97%. On average, analysts predict that Viridian Therapeutics, Inc. will post -4.07 EPS for the current year.

Insider Activity

In other news, insider Jennifer Tousignant sold 14,212 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $24.50, for a total value of $348,194.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.40% of the stock is currently owned by company insiders.

Institutional Trading of Viridian Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Merck & Co. Inc. purchased a new position in Viridian Therapeutics in the second quarter worth about $1,716,015. Blue Owl Capital Holdings LP bought a new stake in shares of Viridian Therapeutics during the 2nd quarter valued at about $4,776,000. Bank of America Corp DE grew its stake in shares of Viridian Therapeutics by 17.5% during the 1st quarter. Bank of America Corp DE now owns 1,163,615 shares of the company’s stock valued at $22,760,000 after purchasing an additional 173,498 shares during the period. Handelsbanken Fonder AB purchased a new stake in shares of Viridian Therapeutics during the 2nd quarter valued at about $834,000. Finally, Rice Hall James & Associates LLC purchased a new stake in shares of Viridian Therapeutics during the 2nd quarter valued at about $21,601,000.

About Viridian Therapeutics

Viridian Therapeutics, Inc (NASDAQ:VRDN) is a clinical-stage biotechnology company focused on developing treatments for autoimmune and inflammatory diseases. The company’s primary research centers on antibody-based medicines designed to target the insulin-like growth factor 1 receptor (IGF-1R), a biological pathway associated with thyroid eye disease (TED).

Viridian’s pipeline includes veligrotug, an investigational monoclonal antibody being developed for TED, as well as additional drug candidates intended to provide alternative dosing options and potentially address broader autoimmune conditions.