Viridian Therapeutics, Inc. (NASDAQ:VRDN) Given Average Rating of “Moderate Buy” by Analysts

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have been given an average rating of “Moderate Buy” by the ten analysts that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $36.33.

A number of research analysts recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 target price on shares of Viridian Therapeutics in a research note on Wednesday. BTIG Research lifted their price target on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $44.00 price target on shares of Viridian Therapeutics in a research report on Thursday, September 19th. The Goldman Sachs Group upped their price target on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Finally, Wedbush reissued an “outperform” rating and issued a $42.00 target price on shares of Viridian Therapeutics in a report on Monday, July 29th.

Viridian Therapeutics Stock Down 3.7 %

Shares of NASDAQ:VRDN opened at $21.64 on Friday. Viridian Therapeutics has a 52 week low of $11.40 and a 52 week high of $27.20. The company has a debt-to-equity ratio of 0.05, a quick ratio of 15.82 and a current ratio of 15.82. The company has a market cap of $1.38 billion, a PE ratio of -5.02 and a beta of 1.10. The firm has a 50 day simple moving average of $22.35 and a 200 day simple moving average of $16.89.

Insider Activity

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

Institutional Trading of Viridian Therapeutics

Several hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. increased its holdings in shares of Viridian Therapeutics by 19.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock worth $87,000 after buying an additional 799 shares during the last quarter. Quest Partners LLC increased its stake in shares of Viridian Therapeutics by 344.0% in the second quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock valued at $79,000 after purchasing an additional 4,692 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Viridian Therapeutics in the third quarter valued at approximately $149,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Viridian Therapeutics during the third quarter valued at approximately $208,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Viridian Therapeutics by 24.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock worth $156,000 after buying an additional 2,359 shares during 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.