HC Wainwright Issues Positive Forecast for Viridian Therapeutics (NASDAQ:VRDN) Stock Price

Viridian Therapeutics (NASDAQ:VRDN) had its price target hoisted by HC Wainwright from $27.00 to $34.00 in a research report released on Thursday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the stock. Needham & Company LLC reiterated a “buy” rating and set a $38.00 target price on shares of Viridian Therapeutics in a report on Wednesday. The Goldman Sachs Group boosted their price target on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Oppenheimer reiterated an “outperform” rating and set a $28.00 price target (down from $31.00) on shares of Viridian Therapeutics in a research note on Monday, August 12th. Royal Bank of Canada restated an “outperform” rating and set a $44.00 target price on shares of Viridian Therapeutics in a research note on Thursday, September 19th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $42.00 price target on shares of Viridian Therapeutics in a report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $36.33.

Viridian Therapeutics Price Performance

VRDN stock traded down $1.46 during trading on Thursday, hitting $20.18. 616,738 shares of the company’s stock traded hands, compared to its average volume of 1,114,318. Viridian Therapeutics has a 52 week low of $11.40 and a 52 week high of $27.20. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -4.62 and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 15.82 and a current ratio of 15.82. The business has a fifty day simple moving average of $22.52 and a 200 day simple moving average of $16.92.

Insiders Place Their Bets

In other news, Director Fairmount Funds Management Llc acquired 1,600,000 shares of Viridian Therapeutics stock in a transaction dated Friday, September 13th. The shares were acquired at an average cost of $18.75 per share, with a total value of $30,000,000.00. Following the purchase, the director now directly owns 3,445,813 shares of the company’s stock, valued at approximately $64,608,993.75. This trade represents a 86.68 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen F. Mahoney bought 21,400 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average price of $23.33 per share, for a total transaction of $499,262.00. Following the completion of the acquisition, the chief executive officer now owns 21,400 shares in the company, valued at approximately $499,262. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 1,626,400 shares of company stock worth $30,616,312. 0.65% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Viridian Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quest Partners LLC boosted its position in Viridian Therapeutics by 344.0% during the 2nd quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock worth $79,000 after acquiring an additional 4,692 shares during the period. Ameritas Investment Partners Inc. grew its stake in Viridian Therapeutics by 19.2% in the first quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock valued at $87,000 after purchasing an additional 799 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Viridian Therapeutics during the 3rd quarter valued at about $149,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Viridian Therapeutics by 24.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock valued at $156,000 after acquiring an additional 2,359 shares during the last quarter. Finally, AlphaCentric Advisors LLC increased its holdings in shares of Viridian Therapeutics by 108.3% during the 2nd quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock valued at $163,000 after acquiring an additional 6,500 shares during the last quarter.

Viridian Therapeutics Company Profile

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.