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

Viridian Therapeutics, Inc. (NASDAQ:VRDN) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $32.84 and last traded at $33.12, with a volume of 417248 shares. The stock had previously closed at $31.30.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Viridian Therapeutics in a research note on Wednesday, October 8th. William Blair began coverage on shares of Viridian Therapeutics in a research report on Wednesday. They set an “outperform” rating for the company. Needham & Company LLC reduced their price objective on Viridian Therapeutics from $36.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Wells Fargo & Company lowered their target price on Viridian Therapeutics from $27.00 to $26.00 and set an “equal weight” rating for the company in a research note on Thursday, August 7th. Finally, BTIG Research restated a “buy” rating and set a $61.00 target price on shares of Viridian Therapeutics in a report on Tuesday, November 4th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $40.55.

Viridian Therapeutics Price Performance

The company has a market cap of $3.11 billion, a PE ratio of -10.77 and a beta of 0.87. The firm’s 50-day moving average is $25.20 and its 200-day moving average is $19.68. The company has a quick ratio of 11.28, a current ratio of 11.28 and a debt-to-equity ratio of 0.07.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.82) by $0.48. Viridian Therapeutics had a negative return on equity of 78.50% and a negative net margin of 426.58%.The business had revenue of $70.57 million for the quarter, compared to analysts’ expectations of $16.21 million. Viridian Therapeutics’s revenue was up 81993.0% on a year-over-year basis. On average, equities analysts anticipate that Viridian Therapeutics, Inc. will post -4.03 EPS for the current year.

Insider Transactions at Viridian Therapeutics

In other news, Director Fairmount Funds Management Llc acquired 454,545 shares of the stock in a transaction on Thursday, October 23rd. The stock was acquired at an average price of $22.00 per share, with a total value of $9,999,990.00. Following the completion of the transaction, the director 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 purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.58% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of VRDN. Invesco Ltd. boosted its stake in Viridian Therapeutics by 44.3% during the first quarter. Invesco Ltd. now owns 47,771 shares of the company’s stock worth $644,000 after acquiring an additional 14,672 shares in the last quarter. Nuveen LLC purchased a new position in shares of Viridian Therapeutics during the first quarter valued at approximately $3,352,000. Knott David M Jr boosted its position in shares of Viridian Therapeutics by 20.0% in the 1st quarter. Knott David M Jr now owns 30,000 shares of the company’s stock worth $404,000 after purchasing an additional 5,000 shares in the last quarter. Persistent Asset Partners Ltd grew its stake in shares of Viridian Therapeutics by 47.4% in the 1st quarter. Persistent Asset Partners Ltd now owns 37,211 shares of the company’s stock worth $502,000 after buying an additional 11,974 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Viridian Therapeutics by 8.2% during the 1st quarter. American Century Companies Inc. now owns 122,892 shares of the company’s stock valued at $1,657,000 after buying an additional 9,330 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.