Viridian Therapeutics (NASDAQ:VRDN) Shares Gap Up on Insider Buying Activity

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) gapped up before the market opened on Wednesday following insider buying activity. The stock had previously closed at $21.18, but opened at $22.44. Viridian Therapeutics shares last traded at $21.76, with a volume of 154,550 shares.

Specifically, Director Fairmount Funds Management Llc bought 1,600,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were purchased at an average price of $18.75 per share, for a total transaction of $30,000,000.00. Following the transaction, the director now directly owns 3,445,813 shares of the company’s stock, valued at approximately $64,608,993.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Analysts Set New Price Targets

VRDN has been the subject of a number of research analyst reports. The Goldman Sachs Group upped their price objective on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. HC Wainwright restated a “buy” rating and set a $27.00 price target on shares of Viridian Therapeutics in a research report on Tuesday, September 10th. Wedbush reiterated an “outperform” rating and issued a $42.00 price objective on shares of Viridian Therapeutics in a report on Monday, July 29th. Wolfe Research began coverage on Viridian Therapeutics in a research report on Tuesday, June 11th. They issued an “outperform” rating and a $29.00 target price on the stock. Finally, Royal Bank of Canada lifted their price target on Viridian Therapeutics from $35.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, September 13th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.30.

Viridian Therapeutics Stock Down 0.6 %

The business’s fifty day moving average is $15.93 and its two-hundred day moving average is $15.05. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -4.68 and a beta of 1.03. 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) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.15). The company had revenue of $0.07 million for the quarter, compared to analysts’ expectations of $0.09 million. Viridian Therapeutics had a negative return on equity of 83.18% and a negative net margin of 79,185.77%. Equities analysts forecast that Viridian Therapeutics, Inc. will post -3.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Viridian Therapeutics

Hedge funds have recently bought and sold shares of the stock. Quest Partners LLC increased its stake in shares of Viridian Therapeutics by 344.0% during the second quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock worth $79,000 after buying an additional 4,692 shares during the period. Ameritas Investment Partners Inc. raised its holdings in shares of Viridian Therapeutics by 19.2% in the 1st 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. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Viridian Therapeutics by 24.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock valued at $156,000 after purchasing an additional 2,359 shares in the last quarter. AlphaCentric Advisors LLC lifted its position in shares of Viridian Therapeutics by 108.3% during the 2nd quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock worth $163,000 after purchasing an additional 6,500 shares during the last quarter. Finally, Arizona State Retirement System grew its stake in shares of Viridian Therapeutics by 14.7% during the second quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock worth $171,000 after purchasing an additional 1,688 shares in the last quarter.

Viridian Therapeutics Company Profile

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.