Viridian Therapeutics (NASDAQ:VRDN) Stock Price Up 6.4% - Should You Buy?

Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report)'s stock price traded up 6.4% during trading on Friday . The company traded as high as $23.47 and last traded at $23.40. 347,615 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 1,128,415 shares. The stock had previously closed at $22.00.

Wall Street Analyst Weigh In

Several research analysts recently commented on VRDN shares. Oppenheimer reiterated an "outperform" rating and issued a $28.00 price target (down previously from $31.00) on shares of Viridian Therapeutics in a research report on Monday, August 12th. HC Wainwright reiterated a "buy" rating and issued a $27.00 target price on shares of Viridian Therapeutics in a report on Tuesday, September 10th. Royal Bank of Canada restated an "outperform" rating and set a $44.00 price target on shares of Viridian Therapeutics in a report on Thursday, September 19th. Needham & Company LLC lifted their price objective on shares of Viridian Therapeutics from $30.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, September 11th. Finally, BTIG Research boosted their price objective on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $35.80.

Viridian Therapeutics Trading Up 7.4 %

The stock has a market capitalization of $1.51 billion, a P/E ratio of -5.56 and a beta of 1.08. The stock's fifty day moving average price is $18.43 and its 200 day moving average price is $15.63. The company has a debt-to-equity ratio of 0.05, a current ratio of 15.82 and a quick ratio of 15.82.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last issued its 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). Viridian Therapeutics had a negative return on equity of 83.18% and a negative net margin of 79,185.77%. The company had revenue of $0.07 million during the quarter, compared to the consensus estimate of $0.09 million. Research analysts forecast that Viridian Therapeutics, Inc. will post -3.94 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Fairmount Funds Management Llc bought 1,600,000 shares of the stock in a transaction on Friday, September 13th. The stock was acquired at an average cost of $18.75 per share, for a total transaction of $30,000,000.00. Following the acquisition, the director now owns 3,445,813 shares of the company's stock, valued at $64,608,993.75. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Viridian Therapeutics news, Director Fairmount Funds Management Llc bought 1,600,000 shares of the business's stock in a transaction on Friday, September 13th. The shares were acquired at an average price of $18.75 per share, with a total value of $30,000,000.00. Following the transaction, the director now owns 3,445,813 shares of the company's stock, valued at approximately $64,608,993.75. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen F. Mahoney purchased 21,400 shares of the stock in a transaction dated Friday, September 27th. The stock was acquired at an average cost of $23.33 per share, with a total value of $499,262.00. Following the transaction, the chief executive officer now directly owns 21,400 shares in the company, valued at approximately $499,262. The disclosure for this purchase can be found here. Insiders have bought 1,626,400 shares of company stock worth $30,616,312 in the last ninety days. 0.65% of the stock is owned by company insiders.

Institutional Trading of Viridian Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of VRDN. Novo Holdings A S raised its position in shares of Viridian Therapeutics by 81.8% in the 2nd quarter. Novo Holdings A S now owns 2,000,000 shares of the company's stock worth $26,020,000 after acquiring an additional 900,000 shares in the last quarter. Perceptive Advisors LLC raised its holdings in Viridian Therapeutics by 71.1% in the fourth quarter. Perceptive Advisors LLC now owns 1,730,212 shares of the company's stock worth $37,684,000 after purchasing an additional 719,007 shares in the last quarter. Maverick Capital Ltd. lifted its position in shares of Viridian Therapeutics by 22.9% during the second quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company's stock valued at $43,036,000 after buying an additional 615,531 shares during the last quarter. Candriam S.C.A. boosted its holdings in shares of Viridian Therapeutics by 167.8% in the 2nd quarter. Candriam S.C.A. now owns 749,804 shares of the company's stock valued at $9,754,000 after buying an additional 469,804 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Viridian Therapeutics by 7.8% in the 1st quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company's stock worth $56,632,000 after buying an additional 233,331 shares during the last quarter.

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.