Viridian Therapeutics (NASDAQ:VRDN) Shares Gap Up – Here’s What Happened

Viridian Therapeutics, Inc. (NASDAQ:VRDN) shares gapped up prior to trading on Monday . The stock had previously closed at $17.85, but opened at $21.01. Viridian Therapeutics shares last traded at $22.72, with a volume of 2,034,720 shares.

Analyst Upgrades and Downgrades

VRDN has been the subject of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 target price on shares of Viridian Therapeutics in a report on Monday, November 25th. BTIG Research raised their price objective on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. TD Cowen started coverage on shares of Viridian Therapeutics in a research note on Monday, November 25th. They set a “buy” rating on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $44.00 target price on shares of Viridian Therapeutics in a research report on Thursday, December 5th. Finally, HC Wainwright reiterated a “buy” rating and set a $34.00 price target on shares of Viridian Therapeutics in a report on Monday. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Viridian Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $36.33.

Viridian Therapeutics Stock Up 27.5 %

The company has a quick ratio of 18.55, a current ratio of 18.55 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $22.04 and a two-hundred day simple moving average of $17.92. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -5.29 and a beta of 1.04.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). The company had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.08 million. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. Equities analysts expect that Viridian Therapeutics, Inc. will post -4.03 EPS for the current year.

Insider Transactions at Viridian Therapeutics

In other Viridian Therapeutics news, CEO Stephen F. Mahoney bought 21,400 shares of Viridian Therapeutics stock in a transaction dated Friday, September 27th. The shares were acquired at an average cost of $23.33 per share, with a total value of $499,262.00. Following the acquisition, the chief executive officer now directly owns 21,400 shares of the company’s stock, valued at $499,262. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Thomas W. Beetham bought 5,000 shares of Viridian Therapeutics stock in a transaction dated Friday, September 27th. The stock was acquired at an average cost of $23.41 per share, for a total transaction of $117,050.00. Following the completion of the acquisition, the chief operating officer now directly owns 6,000 shares in the company, valued at $140,460. This represents a 500.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.65% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of VRDN. Quest Partners LLC boosted its position in Viridian Therapeutics by 344.0% in the 2nd quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock valued at $79,000 after buying an additional 4,692 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Viridian Therapeutics in the 3rd quarter valued at $149,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Viridian Therapeutics by 24.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock valued at $156,000 after buying an additional 2,359 shares during the last quarter. AlphaCentric Advisors LLC lifted its stake in shares of Viridian Therapeutics by 108.3% in the 2nd quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock valued at $163,000 after purchasing an additional 6,500 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of Viridian Therapeutics by 14.7% in the 2nd quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock valued at $171,000 after purchasing an additional 1,688 shares during the period.

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.