Viridian Therapeutics (NASDAQ:VRDN) Trading 5.8% Higher – Should You Buy?

Viridian Therapeutics, Inc. (NASDAQ:VRDN) shares shot up 5.8% during mid-day trading on Tuesday . The company traded as high as $21.33 and last traded at $21.23. 571,464 shares changed hands during trading, a decline of 60% from the average session volume of 1,425,859 shares. The stock had previously closed at $20.07.

Wall Street Analyst Weigh In

Several brokerages have recently commented on VRDN. BTIG Research increased their target price on shares of 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 restated a “buy” rating and issued a $38.00 price objective on shares of Viridian Therapeutics in a research note on Tuesday. HC Wainwright reissued a “buy” rating and issued a $34.00 price target on shares of Viridian Therapeutics in a report on Monday, December 16th. Wells Fargo & Company restated an “equal weight” rating and set a $27.00 price objective (down previously from $37.00) on shares of Viridian Therapeutics in a report on Thursday, December 19th. Finally, The Goldman Sachs Group boosted their target price 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. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.70.

Viridian Therapeutics Stock Performance

The business has a 50 day moving average of $20.67 and a 200-day moving average of $18.81. The company has a debt-to-equity ratio of 0.04, a quick ratio of 18.55 and a current ratio of 18.55. The company has a market capitalization of $1.52 billion, a P/E ratio of -4.44 and a beta of 1.13.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The company 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%. On average, sell-side analysts predict that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Viridian Therapeutics

Several large investors have recently added to or reduced their stakes in VRDN. Quest Partners LLC raised its holdings in shares of Viridian Therapeutics by 344.0% in the 2nd quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock valued at $79,000 after acquiring an additional 4,692 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Viridian Therapeutics in the 3rd quarter worth approximately $149,000. Arizona State Retirement System increased its holdings in shares of Viridian Therapeutics by 14.7% in the 2nd quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock worth $171,000 after buying an additional 1,688 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Viridian Therapeutics during the 3rd quarter valued at $208,000. Finally, DCF Advisers LLC lifted its holdings in shares of Viridian Therapeutics by 22.4% during the 2nd quarter. DCF Advisers LLC now owns 17,750 shares of the company’s stock worth $231,000 after acquiring an additional 3,250 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.