Viridian Therapeutics (NASDAQ:VRDN) Trading Up 6.1% – Still a Buy?

Viridian Therapeutics, Inc. (NASDAQ:VRDN)’s stock price shot up 6.1% on Monday . The stock traded as high as $12.90 and last traded at $12.75. 322,163 shares were traded during trading, a decline of 73% from the average session volume of 1,190,832 shares. The stock had previously closed at $12.02.

Analysts Set New Price Targets

VRDN has been the subject of several research reports. Royal Bank of Canada raised their price target on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $27.00 price objective (down previously from $37.00) on shares of Viridian Therapeutics in a research note on Thursday, December 19th. Needham & Company LLC reiterated a “buy” rating and set a $38.00 price target on shares of Viridian Therapeutics in a report on Tuesday, January 7th. Finally, HC Wainwright restated a “buy” rating and issued a $34.00 price objective on shares of Viridian Therapeutics in a research note on Monday, December 16th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.70.

Viridian Therapeutics Trading Up 10.6 %

The company has a debt-to-equity ratio of 0.04, a quick ratio of 18.55 and a current ratio of 18.55. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -3.09 and a beta of 0.81. The company’s 50 day moving average is $15.08 and its 200 day moving average is $18.91.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($1.05) by $0.24. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. The business had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $0.05 million. On average, research analysts forecast that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Viridian Therapeutics

A number of institutional investors have recently bought and sold shares of VRDN. R Squared Ltd bought a new position in shares of Viridian Therapeutics during the fourth quarter valued at $26,000. Foresite Capital Management VI LLC acquired a new stake in Viridian Therapeutics in the fourth quarter worth about $38,000. AlphaQuest LLC raised its stake in shares of Viridian Therapeutics by 119.0% during the fourth quarter. AlphaQuest LLC now owns 2,795 shares of the company’s stock worth $54,000 after buying an additional 1,519 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Viridian Therapeutics by 3,892.9% in the 1st quarter. GAMMA Investing LLC now owns 8,425 shares of the company’s stock valued at $114,000 after purchasing an additional 8,214 shares during the period. Finally, Summit Investment Advisors Inc. lifted its stake in Viridian Therapeutics by 24.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,646 shares of the company’s stock valued at $147,000 after buying an additional 1,516 shares during the period.

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.