Viridian Therapeutics (NASDAQ:VRDN) Trading 7.9% Higher – Should You Buy?

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) rose 7.9% on Monday . The stock traded as high as $17.80 and last traded at $17.9440. Approximately 181,945 shares were traded during trading, a decline of 92% from the average session volume of 2,203,457 shares. The stock had previously closed at $16.63.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on VRDN shares. Needham & Company LLC reiterated a “buy” rating and issued a $32.00 price target on shares of Viridian Therapeutics in a research note on Tuesday, May 5th. Evercore set a $26.00 price objective on shares of Viridian Therapeutics in a report on Friday, May 15th. Wall Street Zen upgraded shares of Viridian Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Sunday, June 14th. Truist Financial cut their price target on shares of Viridian Therapeutics from $36.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. Finally, Wedbush decreased their price target on shares of Viridian Therapeutics from $37.00 to $31.00 and set an “outperform” rating for the company in a report on Wednesday, April 8th. Twelve investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.14.

Viridian Therapeutics Stock Performance

The stock has a market capitalization of $1.81 billion, a PE ratio of -5.29 and a beta of 0.90. The company has a quick ratio of 15.15, a current ratio of 15.15 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average price of $16.01 and a 200-day moving average price of $24.71.

Viridian Therapeutics (NASDAQ:VRDN) last posted 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 company had revenue of $0.14 million during the quarter, compared to the consensus estimate of $0.04 million. Viridian Therapeutics had a negative net margin of 490.31% and a negative return on equity of 80.19%. The firm’s quarterly revenue was up 95.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.87) earnings per share. Research analysts expect that Viridian Therapeutics, Inc. will post -3.87 EPS for the current fiscal year.

Insider Buying and Selling at Viridian Therapeutics

In other news, Director Fairmount Funds Management Llc bought 1,176,470 shares of the stock in a transaction dated Monday, May 11th. The shares were acquired at an average cost of $17.00 per share, with a total value of $19,999,990.00. Following the purchase, the director directly owned 5,090,928 shares in the company, valued at $86,545,776. The trade was a 30.05% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Viridian Therapeutics

Large investors have recently bought and sold shares of the business. MetLife Investment Management LLC grew its holdings in Viridian Therapeutics by 0.8% in the fourth quarter. MetLife Investment Management LLC now owns 43,985 shares of the company’s stock valued at $1,369,000 after purchasing an additional 356 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Viridian Therapeutics by 0.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,360 shares of the company’s stock valued at $4,337,000 after acquiring an additional 380 shares during the period. US Bancorp DE grew its position in shares of Viridian Therapeutics by 23.2% in the third quarter. US Bancorp DE now owns 2,457 shares of the company’s stock valued at $53,000 after purchasing an additional 463 shares during the period. Bank of New York Mellon Corp raised its position in shares of Viridian Therapeutics by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 216,525 shares of the company’s stock worth $4,235,000 after purchasing an additional 659 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Viridian Therapeutics by 1.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company’s stock worth $669,000 after buying an additional 876 shares during the last quarter.

Viridian Therapeutics Company Profile

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.