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

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

Analysts Set New Price Targets

Several research analysts recently commented on VRDN shares. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 target price on shares of Viridian Therapeutics in a report on Tuesday, January 7th. Royal Bank of Canada lifted their price objective on Viridian Therapeutics from $44.00 to $47.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. TD Cowen initiated coverage on Viridian Therapeutics in a research report on Monday, November 25th. They set a “buy” rating for the company. HC Wainwright reaffirmed a “buy” rating and set a $34.00 target price on shares of Viridian Therapeutics in a research report on Monday, December 16th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $27.00 price target (down previously from $37.00) on shares of Viridian Therapeutics in a report on Thursday, December 19th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Viridian Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $35.70.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. R Squared Ltd bought a new position in Viridian Therapeutics in the fourth quarter valued at about $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Viridian Therapeutics during the 3rd quarter valued at about $149,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Viridian Therapeutics in the 3rd quarter valued at about $208,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Viridian Therapeutics by 17.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,997 shares of the company’s stock worth $318,000 after buying an additional 2,036 shares during the period. Finally, AlphaCentric Advisors LLC lifted its holdings in Viridian Therapeutics by 20.0% in the third quarter. AlphaCentric Advisors LLC now owns 15,000 shares of the company’s stock valued at $341,000 after buying an additional 2,500 shares during the period.

Viridian Therapeutics Price Performance

Shares of NASDAQ VRDN traded down $0.70 during mid-day trading on Friday, hitting $19.38. 831,383 shares of the stock were exchanged, compared to its average volume of 1,129,744. Viridian Therapeutics has a twelve month low of $11.40 and a twelve month high of $27.20. The stock’s fifty day simple moving average is $19.41 and its two-hundred day simple moving average is $19.43. 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 company has a market cap of $1.54 billion, a P/E ratio of -4.50 and a beta of 1.13.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings data 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). Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. The company had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.08 million. As a group, analysts forecast that Viridian Therapeutics will post -4.03 EPS for the current fiscal year.

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.