Viridian Therapeutics (NASDAQ:VRDN) Stock Price Up 6.3% – Here’s Why

Viridian Therapeutics, Inc. (NASDAQ:VRDN) was up 6.3% on Friday . The stock traded as high as $18.06 and last traded at $18.14. 390,316 shares changed hands during trading, a decline of 73% from the average daily volume of 1,445,984 shares. The stock had previously closed at $17.06.

Wall Street Analyst Weigh In

Several brokerages recently commented on VRDN. HC Wainwright reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Viridian Therapeutics in a report on Monday, December 16th. Royal Bank of Canada boosted their price target on Viridian Therapeutics from $44.00 to $47.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price objective on shares of Viridian Therapeutics in a research note on Tuesday, January 7th. Wells Fargo & Company restated an “equal weight” rating and set a $27.00 target price (down from $37.00) on shares of Viridian Therapeutics in a research report on Thursday, December 19th. Finally, BTIG Research upped their target price on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Viridian Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $35.70.

Viridian Therapeutics Trading Up 6.3 %

The firm’s fifty day simple moving average is $19.88 and its two-hundred day simple moving average is $19.05. The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results 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). Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. The firm had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.08 million. On average, equities research analysts predict that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Viridian Therapeutics

Hedge funds have recently made changes to their positions in the business. Rhumbline Advisers raised its stake in Viridian Therapeutics by 34.5% during the 2nd quarter. Rhumbline Advisers now owns 90,826 shares of the company’s stock valued at $1,182,000 after purchasing an additional 23,305 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Viridian Therapeutics by 968.3% during the second quarter. Dimensional Fund Advisors LP now owns 107,580 shares of the company’s stock valued at $1,400,000 after buying an additional 97,510 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Viridian Therapeutics by 430.3% in the second quarter. Squarepoint Ops LLC now owns 142,936 shares of the company’s stock worth $1,860,000 after buying an additional 115,980 shares in the last quarter. Affinity Asset Advisors LLC bought a new position in shares of Viridian Therapeutics during the second quarter worth $1,952,000. Finally, Maverick Capital Ltd. grew its stake in Viridian Therapeutics by 22.9% during the second quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock valued at $43,036,000 after acquiring an additional 615,531 shares in the last quarter.

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.