Viridian Therapeutics (NASDAQ:VRDN) Director Acquires $19,999,990.00 in Stock

Viridian Therapeutics, Inc. (NASDAQ:VRDN) Director Fairmount Funds Management Llc bought 1,176,470 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $17.00 per share, with a total value of $19,999,990.00. Following the transaction, the director directly owned 5,090,928 shares of the company’s stock, valued at approximately $86,545,776. This trade represents a 30.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Viridian Therapeutics Stock Down 3.5%

Shares of Viridian Therapeutics stock opened at $16.82 on Friday. The stock has a market capitalization of $1.73 billion, a P/E ratio of -5.07 and a beta of 0.82. The company has a quick ratio of 15.15, a current ratio of 15.15 and a debt-to-equity ratio of 0.10. The stock has a 50 day moving average price of $20.06 and a two-hundred day moving average price of $26.66. Viridian Therapeutics, Inc. has a 12-month low of $12.48 and a 12-month high of $34.29.

Viridian Therapeutics (NASDAQ:VRDN) last announced its earnings results on Tuesday, May 5th. The company reported ($0.90) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.16. The firm had revenue of $0.14 million during the quarter, compared to analysts’ expectations of $0.04 million. Viridian Therapeutics had a negative return on equity of 80.19% and a negative net margin of 490.31%.The company’s revenue was up 95.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.87) earnings per share. Equities analysts expect that Viridian Therapeutics, Inc. will post -3.71 earnings per share for the current year.

Institutional Trading of Viridian Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. KBC Group NV acquired a new stake in Viridian Therapeutics in the first quarter worth about $34,000. Aster Capital Management DIFC Ltd acquired a new stake in Viridian Therapeutics in the third quarter worth about $35,000. ANTIPODES PARTNERS Ltd acquired a new stake in Viridian Therapeutics in the fourth quarter worth about $36,000. Bessemer Group Inc. increased its position in Viridian Therapeutics by 947.7% in the third quarter. Bessemer Group Inc. now owns 2,085 shares of the company’s stock worth $45,000 after purchasing an additional 1,886 shares during the period. Finally, Larson Financial Group LLC bought a new position in Viridian Therapeutics during the third quarter worth about $52,000.

Analysts Set New Price Targets

Several research firms have recently weighed in on VRDN. Needham & Company LLC reissued a “buy” rating and issued a $32.00 price objective on shares of Viridian Therapeutics in a research report on Tuesday, May 5th. HC Wainwright reduced their price objective on Viridian Therapeutics from $34.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday, March 31st. Truist Financial reduced their price objective on Viridian Therapeutics from $36.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Wedbush reduced their price objective on Viridian Therapeutics from $37.00 to $31.00 and set an “outperform” rating for the company in a research report on Wednesday, April 8th. Finally, Evercore set a $26.00 price objective on Viridian Therapeutics in a research report on Friday. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.14.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc (NASDAQ: VRDN) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted antibody therapeutics for patients suffering from rare and serious diseases. The company’s lead program, VRDN-001, is a fully human monoclonal antibody that antagonizes the insulin-like growth factor-1 receptor (IGF-1R), with an initial focus on thyroid eye disease (TED). By selectively inhibiting IGF-1R signaling, VRDN-001 aims to reduce inflammation and tissue remodeling associated with TED and related disorders.

In addition to VRDN-001, Viridian is advancing a second antibody program, VRDN-002, which targets complement-mediated pathways implicated in autoimmune and inflammatory diseases.