Viridian Therapeutics, Inc. (NASDAQ:VRDN) Short Interest Up 28.9% in December

Viridian Therapeutics, Inc. (NASDAQ:VRDN) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 12,050,000 shares, a growth of 28.9% from the December 15th total of 9,350,000 shares. Based on an average trading volume of 1,290,000 shares, the days-to-cover ratio is presently 9.3 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $38.00 target price on shares of Viridian Therapeutics in a report on Tuesday, January 7th. Royal Bank of Canada upped their price objective on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. BTIG Research upped their price objective on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. HC Wainwright reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Viridian Therapeutics in a research note on Monday, December 16th. Finally, TD Cowen began coverage on shares of Viridian Therapeutics in a research note on Monday, November 25th. They issued a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.70.

Hedge Funds Weigh In On Viridian Therapeutics

Several hedge funds have recently bought and sold shares of the company. Arizona State Retirement System lifted its position in Viridian Therapeutics by 14.7% during the second 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Viridian Therapeutics by 17.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,997 shares of the company’s stock valued at $318,000 after purchasing an additional 2,036 shares during the last quarter. AlphaCentric Advisors LLC lifted its position in Viridian Therapeutics by 20.0% during the third quarter. AlphaCentric Advisors LLC now owns 15,000 shares of the company’s stock valued at $341,000 after purchasing an additional 2,500 shares during the last quarter. DCF Advisers LLC lifted its position in Viridian Therapeutics by 22.4% during the second quarter. DCF Advisers LLC now owns 17,750 shares of the company’s stock valued at $231,000 after purchasing an additional 3,250 shares during the last quarter. Finally, Quest Partners LLC lifted its position in Viridian Therapeutics by 344.0% during the second quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock valued at $79,000 after purchasing an additional 4,692 shares during the last quarter.

Viridian Therapeutics Price Performance

VRDN opened at $17.39 on Thursday. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of -4.03 and a beta of 1.13. 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 firm has a 50-day moving average price of $20.31 and a 200-day moving average price of $18.99. Viridian Therapeutics has a twelve month low of $11.40 and a twelve month high of $27.20.

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

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.