Viridian Therapeutics (NASDAQ:VRDN) Sets New 12-Month High - Here's What Happened

Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $25.63 and last traded at $25.62, with a volume of 10261 shares traded. The stock had previously closed at $25.21.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Royal Bank of Canada restated an "outperform" rating and set a $44.00 price objective on shares of Viridian Therapeutics in a report on Thursday, September 19th. HC Wainwright reissued a "buy" rating and issued a $27.00 price target on shares of Viridian Therapeutics in a research report on Tuesday, September 10th. BTIG Research lifted their price objective on Viridian Therapeutics from $56.00 to $61.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Needham & Company LLC reissued a "buy" rating and issued a $38.00 target price on shares of Viridian Therapeutics in a report on Monday, October 28th. Finally, The Goldman Sachs Group raised their target price on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a "buy" rating in a research report on Thursday, September 12th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $35.80.

Viridian Therapeutics Trading Up 2.0 %

The company has a market cap of $1.64 billion, a price-to-earnings ratio of -6.06 and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 15.82 and a quick ratio of 15.82. The business has a 50 day simple moving average of $21.82 and a 200 day simple moving average of $16.69.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share (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 for the quarter, compared to analyst estimates of $0.09 million. As a group, equities analysts forecast that Viridian Therapeutics, Inc. will post -3.94 EPS for the current year.

Insider Transactions at Viridian Therapeutics

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc acquired 1,600,000 shares of the business's stock in a transaction that occurred on Friday, September 13th. The shares were acquired at an average cost 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 of the company's stock, valued at approximately $64,608,993.75. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Thomas W. Beetham bought 5,000 shares of the business's stock in a transaction on Friday, September 27th. The shares were bought at an average cost of $23.41 per share, for a total transaction of $117,050.00. Following the completion of the acquisition, the chief operating officer now owns 6,000 shares in the company, valued at approximately $140,460. This trade represents a 500.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Fairmount Funds Management Llc bought 1,600,000 shares of the business's stock in a transaction on Friday, September 13th. The stock was purchased 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 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 disclosure for this purchase can be found here. Over the last three months, insiders have purchased 1,626,400 shares of company stock worth $30,616,312. Corporate insiders own 0.65% of the company's stock.

Institutional Investors Weigh In On Viridian Therapeutics

Several large investors have recently made changes to their positions in VRDN. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Viridian Therapeutics by 4.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,822 shares of the company's stock worth $505,000 after acquiring an additional 1,135 shares in the last quarter. Swiss National Bank grew its position in Viridian Therapeutics by 23.4% in the first quarter. Swiss National Bank now owns 82,900 shares of the company's stock valued at $1,452,000 after purchasing an additional 15,700 shares in the last quarter. Vanguard Group Inc. grew its position in Viridian Therapeutics by 7.8% in the first quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company's stock valued at $56,632,000 after purchasing an additional 233,331 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in Viridian Therapeutics by 19.2% in the first quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company's stock valued at $87,000 after purchasing an additional 799 shares in the last quarter. Finally, American International Group Inc. grew its position in Viridian Therapeutics by 15.4% in the first quarter. American International Group Inc. now owns 24,515 shares of the company's stock valued at $429,000 after purchasing an additional 3,266 shares in 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.