Viridian Therapeutics, Inc. (NASDAQ:VRDN) Given Average Recommendation of "Moderate Buy" by Analysts

Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report) has earned an average rating of "Moderate Buy" from the eleven research firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $36.33.

VRDN has been the topic of several research reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $44.00 price target on shares of Viridian Therapeutics in a research note on Thursday, December 5th. BTIG Research upped their target price on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. HC Wainwright upped their target price on Viridian Therapeutics from $27.00 to $34.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Oppenheimer reaffirmed an "outperform" rating and set a $28.00 price target (down previously from $31.00) on shares of Viridian Therapeutics in a report on Monday, August 12th. Finally, TD Cowen initiated coverage on Viridian Therapeutics in a research note on Monday, November 25th. They set a "buy" rating on the stock.

Insider Activity

In other news, Director Fairmount Funds Management Llc bought 1,600,000 shares of the stock in a transaction dated Friday, September 13th. The stock was bought at an average price of $18.75 per share, for a total transaction of $30,000,000.00. Following the completion of the acquisition, the director now directly owns 3,445,813 shares in the company, valued at approximately $64,608,993.75. This trade represents a 86.68 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Thomas W. Beetham acquired 5,000 shares of the business's stock in a transaction on Friday, September 27th. The stock was acquired at an average cost of $23.41 per share, for a total transaction of $117,050.00. Following the transaction, the chief operating officer now owns 6,000 shares of the company's stock, valued at approximately $140,460. The trade was a 500.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 1,626,400 shares of company stock worth $30,616,312 in the last quarter. 0.65% of the stock is owned by corporate insiders.

Institutional Trading of Viridian Therapeutics

A number of large investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of Viridian Therapeutics by 5.8% in the third quarter. Geode Capital Management LLC now owns 1,493,311 shares of the company's stock valued at $33,979,000 after purchasing an additional 81,951 shares during the period. Barclays PLC boosted its position in Viridian Therapeutics by 113.1% during the third quarter. Barclays PLC now owns 125,397 shares of the company's stock valued at $2,851,000 after buying an additional 66,550 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in Viridian Therapeutics in the third quarter valued at approximately $660,000. Sphera Funds Management LTD. purchased a new stake in shares of Viridian Therapeutics during the third quarter worth about $1,959,000. Finally, Point72 Asset Management L.P. bought a new stake in Viridian Therapeutics in the third quarter valued at $788,000.

Viridian Therapeutics Price Performance

NASDAQ:VRDN traded down $0.17 during trading hours on Tuesday, reaching $19.36. The company had a trading volume of 1,038,876 shares, compared to its average volume of 1,112,565. The firm has a market capitalization of $1.53 billion, a PE ratio of -4.49 and a beta of 1.04. The company has a quick ratio of 18.55, a current ratio of 18.55 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average of $22.38 and a two-hundred day moving average of $17.79. Viridian Therapeutics has a one year low of $11.40 and a one year high of $27.20.

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