Viridian Therapeutics (NASDAQ:VRDN) Trading Up 6.3% – Time to Buy?

Viridian Therapeutics, Inc. (NASDAQ:VRDN)’s stock price was up 6.3% on Friday . The stock traded as high as $18.06 and last traded at $18.14. Approximately 390,316 shares traded 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.

Analyst Upgrades and Downgrades

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

Viridian Therapeutics Trading Up 7.3 %

The firm’s 50-day simple moving average is $20.02 and its 200 day simple moving average is $18.97. The company has a debt-to-equity ratio of 0.04, a current ratio of 18.55 and a quick ratio of 18.55. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -4.25 and a beta of 1.13.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC grew its holdings in shares of Viridian Therapeutics by 89.1% during the 4th quarter. SG Americas Securities LLC now owns 31,085 shares of the company’s stock valued at $596,000 after purchasing an additional 14,644 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in Viridian Therapeutics by 6.8% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 210,899 shares of the company’s stock valued at $4,043,000 after buying an additional 13,498 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Viridian Therapeutics by 218.5% during the third quarter. JPMorgan Chase & Co. now owns 400,351 shares of the company’s stock worth $9,108,000 after buying an additional 274,641 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Viridian Therapeutics by 1,603.4% during the third quarter. Principal Financial Group Inc. now owns 172,810 shares of the company’s stock worth $3,931,000 after buying an additional 162,665 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in shares of Viridian Therapeutics in the 3rd quarter valued at $8,917,000.

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.