Viridian Therapeutics (NASDAQ:VRDN) Stock Price Up 3.9% – Here’s Why

Viridian Therapeutics, Inc. (NASDAQ:VRDN) traded up 3.9% on Friday . The stock traded as high as $24.68 and last traded at $23.91. 222,844 shares traded hands during trading, a decline of 75% from the average session volume of 878,412 shares. The stock had previously closed at $23.01.

Analyst Upgrades and Downgrades

VRDN has been the topic of a number of analyst reports. Needham & Company LLC cut their price target on Viridian Therapeutics from $36.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Jefferies Financial Group initiated coverage on Viridian Therapeutics in a report on Monday, August 25th. They issued a “buy” rating and a $44.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viridian Therapeutics in a report on Wednesday, October 8th. Wells Fargo & Company dropped their price target on Viridian Therapeutics from $27.00 to $26.00 and set an “equal weight” rating for the company in a research report on Thursday, August 7th. Finally, Oppenheimer increased their price objective on Viridian Therapeutics from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.88.

Viridian Therapeutics Price Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 11.01 and a current ratio of 11.01. The company has a 50-day simple moving average of $19.69 and a 200-day simple moving average of $16.32. The company has a market cap of $1.98 billion, a price-to-earnings ratio of -6.32 and a beta of 0.49.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($1.00) earnings per share for the quarter, hitting analysts’ consensus estimates of ($1.00). The business had revenue of $0.08 million for the quarter, compared to analysts’ expectations of $0.05 million. Viridian Therapeutics had a negative return on equity of 78.95% and a negative net margin of 112,806.88%.The company’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.81) EPS. As a group, research analysts predict that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current year.

Hedge Funds Weigh In On Viridian Therapeutics

Hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC raised its holdings in shares of Viridian Therapeutics by 332.1% during the third quarter. Farther Finance Advisors LLC now owns 1,940 shares of the company’s stock valued at $42,000 after buying an additional 1,491 shares during the last quarter. Amalgamated Bank grew its position in Viridian Therapeutics by 49.7% in the first quarter. Amalgamated Bank now owns 2,531 shares of the company’s stock worth $34,000 after buying an additional 840 shares during the last quarter. GAMMA Investing LLC grew its position in Viridian Therapeutics by 3,892.9% in the first quarter. GAMMA Investing LLC now owns 8,425 shares of the company’s stock worth $114,000 after buying an additional 8,214 shares during the last quarter. Sei Investments Co. acquired a new position in Viridian Therapeutics in the second quarter worth approximately $147,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Viridian Therapeutics during the 2nd quarter worth approximately $170,000.

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.