Viridian Therapeutics, Inc. (NASDAQ:VRDN) Short Interest Update

Viridian Therapeutics, Inc. (NASDAQ:VRDN) was the target of a significant drop in short interest in the month of June. As of June 30th, there was short interest totalling 7,920,000 shares, a drop of 15.7% from the June 15th total of 9,390,000 shares. Based on an average trading volume of 943,400 shares, the days-to-cover ratio is currently 8.4 days.

Viridian Therapeutics Trading Up 5.8 %

Viridian Therapeutics stock opened at $14.69 on Tuesday. Viridian Therapeutics has a 52 week low of $10.93 and a 52 week high of $24.18. The company has a debt-to-equity ratio of 0.05, a quick ratio of 23.99 and a current ratio of 23.99. The firm has a market capitalization of $937.52 million, a price-to-earnings ratio of -3.26 and a beta of 1.12. The company has a 50 day moving average price of $12.86 and a 200 day moving average price of $16.35.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.79) EPS for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.28. Viridian Therapeutics had a negative net margin of 75,737.85% and a negative return on equity of 92.04%. The firm had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.09 million. During the same period in the previous year, the firm posted ($1.61) earnings per share. The firm’s revenue was down 26.5% on a year-over-year basis. Research analysts forecast that Viridian Therapeutics will post -3.61 EPS for the current year.

Institutional Investors Weigh In On Viridian Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. raised its holdings in Viridian Therapeutics by 19.2% during the first quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock valued at $87,000 after buying an additional 799 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Viridian Therapeutics by 122.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,369 shares of the company’s stock worth $182,000 after purchasing an additional 4,610 shares during the period. Arizona State Retirement System acquired a new position in shares of Viridian Therapeutics during the 4th quarter worth about $208,000. Principal Financial Group Inc. lifted its position in shares of Viridian Therapeutics by 9.7% during the 1st quarter. Principal Financial Group Inc. now owns 11,915 shares of the company’s stock worth $209,000 after purchasing an additional 1,058 shares during the last quarter. Finally, New York State Common Retirement Fund grew its holdings in Viridian Therapeutics by 9.7% in the 4th quarter. New York State Common Retirement Fund now owns 17,495 shares of the company’s stock valued at $378,000 after buying an additional 1,545 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on VRDN. HC Wainwright cut their target price on Viridian Therapeutics from $37.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Oppenheimer decreased their target price on Viridian Therapeutics from $36.00 to $31.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Wolfe Research started coverage on shares of Viridian Therapeutics in a research report on Tuesday, June 11th. They issued an “outperform” rating and a $29.00 price target on the stock. The Goldman Sachs Group initiated coverage on shares of Viridian Therapeutics in a research report on Thursday, June 6th. They set a “buy” rating and a $23.00 price objective for the company. Finally, LADENBURG THALM/SH SH cut shares of Viridian Therapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $32.00.

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.