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

Viridian Therapeutics (NASDAQ:VRDN) had its price target lifted by HC Wainwright from $27.00 to $34.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 68.82% from the company’s current price.

Other research analysts have also issued research reports about the stock. The Goldman Sachs Group boosted their target price on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Royal Bank of Canada reissued an “outperform” rating and set a $44.00 price objective on shares of Viridian Therapeutics in a research report on Thursday, September 19th. Oppenheimer reaffirmed an “outperform” rating and issued a $28.00 target price (down previously from $31.00) on shares of Viridian Therapeutics in a report on Monday, August 12th. Wedbush reiterated an “outperform” rating and set a $42.00 price target on shares of Viridian Therapeutics in a report on Monday, July 29th. Finally, BTIG Research boosted their target price on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Viridian Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $36.33.

Viridian Therapeutics Trading Down 6.9 %

NASDAQ:VRDN opened at $20.14 on Thursday. The company’s 50 day moving average is $22.64 and its 200-day moving average is $16.97. The company has a quick ratio of 15.82, a current ratio of 15.82 and a debt-to-equity ratio of 0.05. Viridian Therapeutics has a 12 month low of $11.40 and a 12 month high of $27.20. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -4.67 and a beta of 1.10.

Insider Buying and Selling at Viridian Therapeutics

In other news, Director Fairmount Funds Management Llc bought 1,600,000 shares of the stock in a transaction dated Friday, September 13th. The shares were acquired at an average price of $18.75 per share, with a total value of $30,000,000.00. Following the acquisition, the director now owns 3,445,813 shares in the company, valued at $64,608,993.75. This trade represents a 86.68 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Thomas W. Beetham purchased 5,000 shares of Viridian Therapeutics stock in a transaction on Friday, September 27th. The stock was purchased at an average price of $23.41 per share, for a total transaction of $117,050.00. Following the completion of the transaction, the chief operating officer now owns 6,000 shares of the company’s stock, valued at approximately $140,460. This represents a 500.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 1,626,400 shares of company stock valued at $30,616,312. 0.65% of the stock is currently owned by corporate insiders.

Institutional Trading of Viridian Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in VRDN. FMR LLC lifted its position in shares of Viridian Therapeutics by 16.8% during the third quarter. FMR LLC now owns 11,183,478 shares of the company’s stock worth $254,424,000 after purchasing an additional 1,610,130 shares in the last quarter. Maverick Capital Ltd. raised its holdings in Viridian Therapeutics by 22.9% during the 2nd quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock worth $43,036,000 after purchasing an additional 615,531 shares during the last quarter. Vanguard Group Inc. lifted its position in Viridian Therapeutics by 7.8% during the 1st quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company’s stock valued at $56,632,000 after purchasing an additional 233,331 shares during the period. Novo Holdings A S raised its stake in shares of Viridian Therapeutics by 19.3% during the third quarter. Novo Holdings A S now owns 2,385,000 shares of the company’s stock worth $54,259,000 after buying an additional 385,000 shares during the last quarter. Finally, Great Point Partners LLC lifted its holdings in Viridian Therapeutics by 50.0% in the third quarter. Great Point Partners LLC now owns 750,000 shares of the company’s stock valued at $17,062,000 after buying an additional 250,000 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.