Viridian Therapeutics (NASDAQ:VRDN) Sets New 52-Week High – Should You Buy?

Viridian Therapeutics, Inc. (NASDAQ:VRDN) reached a new 52-week high during trading on Friday . The company traded as high as $24.91 and last traded at $24.89, with a volume of 173979 shares. The stock had previously closed at $24.26.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $44.00 price target on shares of Viridian Therapeutics in a report on Thursday, September 19th. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price target on shares of Viridian Therapeutics in a research note on Tuesday, September 10th. Wedbush reissued an “outperform” rating and issued a $42.00 price objective on shares of Viridian Therapeutics in a research report on Monday, July 29th. 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. Finally, Needham & Company LLC boosted their target price on Viridian Therapeutics from $30.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $35.80.

Viridian Therapeutics Trading Up 3.8 %

The firm has a market capitalization of $1.61 billion, a PE ratio of -5.60 and a beta of 1.08. The company has a quick ratio of 15.82, a current ratio of 15.82 and a debt-to-equity ratio of 0.05. The company’s 50-day simple moving average is $19.13 and its 200 day simple moving average is $15.81.

Viridian Therapeutics (NASDAQ:VRDN) last announced its earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.15). The business had revenue of $0.07 million for the quarter, compared to analysts’ expectations of $0.09 million. Viridian Therapeutics had a negative return on equity of 83.18% and a negative net margin of 79,185.77%. As a group, sell-side analysts expect that Viridian Therapeutics, Inc. will post -3.94 EPS for the current year.

Insider Activity

In other news, 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 purchased at an average price of $23.33 per share, for a total transaction of $499,262.00. Following the completion of the transaction, the chief executive officer now directly owns 21,400 shares in the company, valued at approximately $499,262. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Viridian Therapeutics news, CEO Stephen F. Mahoney bought 21,400 shares of Viridian Therapeutics stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average price of $23.33 per share, with a total value of $499,262.00. Following the completion of the acquisition, the chief executive officer now directly owns 21,400 shares in the company, valued at approximately $499,262. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Fairmount Funds Management Llc purchased 1,600,000 shares of the stock in a transaction on Friday, September 13th. The stock was acquired at an average cost of $18.75 per share, for a total transaction of $30,000,000.00. Following the completion of the acquisition, the director now owns 3,445,813 shares of the company’s stock, valued at $64,608,993.75. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 1,626,400 shares of company stock valued at $30,616,312. Company insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of VRDN. Ameritas Investment Partners Inc. increased its holdings in shares of Viridian Therapeutics by 19.2% during the 1st 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. Quest Partners LLC boosted its stake in shares of 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 in the last quarter. Principal Financial Group Inc. grew 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 valued at $209,000 after acquiring an additional 1,058 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position 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 period. Finally, AlphaCentric Advisors LLC increased 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 in the last quarter.

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.