Viridian Therapeutics, Inc. (NASDAQ:VRDN) Sees Significant Growth in Short Interest

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

Institutional Investors Weigh In On Viridian Therapeutics

A number of institutional investors have recently added to or reduced their stakes in VRDN. Hennion & Walsh Asset Management Inc. boosted its stake in Viridian Therapeutics by 6.8% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 210,899 shares of the company's stock worth $4,043,000 after buying an additional 13,498 shares during the period. JPMorgan Chase & Co. raised its stake in Viridian Therapeutics by 218.5% in the third quarter. JPMorgan Chase & Co. now owns 400,351 shares of the company's stock valued at $9,108,000 after buying an additional 274,641 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Viridian Therapeutics by 1,603.4% in the 3rd quarter. Principal Financial Group Inc. now owns 172,810 shares of the company's stock valued at $3,931,000 after acquiring an additional 162,665 shares during the period. Lord Abbett & CO. LLC purchased a new stake in Viridian Therapeutics during the 3rd quarter valued at about $8,917,000. Finally, Exome Asset Management LLC purchased a new stake in Viridian Therapeutics in the third quarter valued at approximately $3,968,000.

Analyst Ratings Changes

VRDN has been the subject of a number of recent analyst reports. TD Cowen initiated coverage on Viridian Therapeutics in a report on Monday, November 25th. They issued a "buy" rating for the company. HC Wainwright restated a "buy" rating and set a $34.00 price objective on shares of Viridian Therapeutics in a report on Monday, December 16th. Royal Bank of Canada increased their price objective on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 17th. Wells Fargo & Company reiterated an "equal weight" rating and issued a $27.00 target price (down from $37.00) on shares of Viridian Therapeutics in a research report on Thursday, December 19th. Finally, BTIG Research lifted their price objective on Viridian Therapeutics from $56.00 to $61.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Viridian Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $35.70.

Viridian Therapeutics Stock Performance

Viridian Therapeutics stock traded down $0.33 during mid-day trading on Thursday, reaching $17.06. 1,002,962 shares of the stock traded hands, compared to its average volume of 1,558,486. The business's 50-day moving average is $20.18 and its 200-day moving average is $18.98. Viridian Therapeutics has a 12-month low of $11.40 and a 12-month high of $27.20. The company has a debt-to-equity ratio of 0.04, a current ratio of 18.55 and a quick ratio of 18.55. The stock has a market capitalization of $1.35 billion, a PE ratio of -3.96 and a beta of 1.13.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The firm had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.08 million. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. As a group, sell-side analysts predict 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.