Viridian Therapeutics (NASDAQ:VRDN) Shares Up 7.8% – Still a Buy?

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $32.00 price target on shares of Viridian Therapeutics in a research note on Monday, June 29th. Truist Financial raised their price target on Viridian Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a report on Friday, August 7th. Weiss Ratings upgraded Viridian Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 14th. Wedbush upped their price objective on Viridian Therapeutics from $32.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 30th. Finally, Royal Bank Of Canada upped their price objective on Viridian Therapeutics from $36.00 to $38.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 22nd. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $38.92.

Viridian Therapeutics Stock Performance

The stock has a market cap of $2.54 billion, a P/E ratio of -6.66 and a beta of 1.11. The company has a debt-to-equity ratio of 0.43, a current ratio of 16.95 and a quick ratio of 16.95. The firm’s 50-day moving average price is $21.59 and its 200-day moving average price is $18.88.

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

Insider Transactions at Viridian Therapeutics

In other Viridian Therapeutics news, insider Jennifer Tousignant sold 14,212 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $24.50, for a total value of $348,194.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in VRDN. Integrated Wealth Concepts LLC purchased a new stake in Viridian Therapeutics during the second quarter valued at $33,000. KBC Group NV bought a new position in Viridian Therapeutics during the first quarter valued at $34,000. State of Wyoming bought a new position in Viridian Therapeutics during the second quarter valued at $43,000. Man Group plc bought a new position in Viridian Therapeutics during the second quarter valued at $197,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Viridian Therapeutics in the 2nd quarter worth $204,000.

About Viridian Therapeutics

Viridian Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious autoimmune diseases. The company’s lead research area is thyroid eye disease (TED), a debilitating condition that can cause eye inflammation, swelling, pain and vision-related complications.

Viridian’s pipeline is centered on antibodies designed to inhibit the insulin-like growth factor-1 receptor (IGF-1R), a target associated with TED. Its investigational therapies include veligrotug (VRDN-001), an intravenous treatment candidate, and VRDN-003, a subcutaneous formulation being developed to provide a more convenient administration option.