Viridian Therapeutics (NASDAQ:VRDN) Reaches New 52-Week High on Insider Buying Activity

Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report)'s share price hit a new 52-week high on Tuesday following insider buying activity. The company traded as high as $24.59 and last traded at $23.80, with a volume of 329955 shares traded. The stock had previously closed at $22.75.

Specifically, CEO Stephen F. Mahoney purchased 21,400 shares of the stock in a transaction dated Friday, September 27th. The stock was bought at an average price of $23.33 per share, with a total value of $499,262.00. Following the acquisition, the chief executive officer now owns 21,400 shares of the company's stock, valued at $499,262. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Thomas W. Beetham bought 5,000 shares of the stock in a transaction on Friday, September 27th. The stock was purchased at an average cost of $23.41 per share, with a total value of $117,050.00. Following the acquisition, the chief operating officer now owns 6,000 shares in the company, valued at $140,460. The disclosure for this purchase can be found here.

Wall Street Analysts Forecast Growth

VRDN has been the topic of several research analyst reports. Needham & Company LLC upped their target price on Viridian Therapeutics from $30.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, September 11th. BTIG Research increased their price objective on Viridian Therapeutics from $56.00 to $61.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. The Goldman Sachs Group increased their price target on Viridian Therapeutics from $25.00 to $31.00 and gave the company a "buy" rating in a research report on Thursday, September 12th. Wolfe Research initiated coverage on Viridian Therapeutics in a research report on Tuesday, June 11th. They set an "outperform" rating and a $29.00 price target for the company. Finally, Oppenheimer reissued an "outperform" rating and issued a $28.00 target price (down from $31.00) on shares of Viridian Therapeutics in a research report on Monday, August 12th. Two 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.80.

Viridian Therapeutics Price Performance

The business has a 50 day moving average price of $17.15 and a two-hundred day moving average price of $15.24. The company has a quick ratio of 15.82, a current ratio of 15.82 and a debt-to-equity ratio of 0.05.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, missing analysts' consensus estimates of ($0.87) by ($0.15). The business had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.09 million. Viridian Therapeutics had a negative net margin of 79,185.77% and a negative return on equity of 83.18%. Equities research analysts forecast that Viridian Therapeutics, Inc. will post -3.94 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in VRDN. Affinity Asset Advisors LLC bought a new position in shares of Viridian Therapeutics in the 4th quarter worth approximately $1,089,000. RTW Investments LP purchased a new stake in shares of Viridian Therapeutics in the 4th quarter worth approximately $13,195,000. Vestal Point Capital LP purchased a new stake in shares of Viridian Therapeutics in the 4th quarter worth approximately $21,780,000. Perceptive Advisors LLC grew its stake in shares of Viridian Therapeutics by 71.1% in the 4th quarter. Perceptive Advisors LLC now owns 1,730,212 shares of the company's stock worth $37,684,000 after buying an additional 719,007 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Viridian Therapeutics in the 4th quarter worth approximately $424,000.

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.