Viridian Therapeutics (NASDAQ:VRDN) Trading 5.6% Higher

Viridian Therapeutics, Inc. (NASDAQ:VRDN)’s share price shot up 5.6% on Friday . The stock traded as high as $13.73 and last traded at $13.68. 22,408 shares traded hands during trading, a decline of 98% from the average session volume of 951,068 shares. The stock had previously closed at $12.95.

Analyst Ratings Changes

Several brokerages have recently weighed in on VRDN. The Goldman Sachs Group began coverage on Viridian Therapeutics in a research note on Thursday, June 6th. They set a “buy” rating and a $23.00 target price for the company. HC Wainwright reduced their price target on shares of Viridian Therapeutics from $37.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Oppenheimer reduced their price target on shares of Viridian Therapeutics from $36.00 to $31.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 price target on shares of Viridian Therapeutics in a research report on Tuesday, June 11th. Finally, LADENBURG THALM/SH SH cut shares of Viridian Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Viridian Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

Viridian Therapeutics Stock Up 4.5 %

The firm’s 50 day simple moving average is $12.91 and its 200 day simple moving average is $16.55. The company has a market cap of $863.48 million, a price-to-earnings ratio of -3.10 and a beta of 1.12. The company has a quick ratio of 23.99, a current ratio of 23.99 and a debt-to-equity ratio of 0.05.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.79) EPS for the quarter, beating the consensus estimate of ($1.07) by $0.28. Viridian Therapeutics had a negative net margin of 75,737.85% and a negative return on equity of 92.04%. The company had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.09 million. During the same quarter last year, the business earned ($1.61) earnings per share. Viridian Therapeutics’s revenue was down 26.5% compared to the same quarter last year. Sell-side analysts anticipate that Viridian Therapeutics, Inc. will post -3.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. RTW Investments LP acquired a new position in shares of Viridian Therapeutics during the fourth quarter valued at approximately $13,195,000. Perceptive Advisors LLC increased its stake in shares of Viridian Therapeutics by 71.1% during the fourth quarter. Perceptive Advisors LLC now owns 1,730,212 shares of the company’s stock valued at $37,684,000 after acquiring an additional 719,007 shares during the period. StoneCrest Wealth Management Inc. acquired a new position in shares of Viridian Therapeutics during the fourth quarter valued at approximately $605,000. Knights of Columbus Asset Advisors LLC increased its stake in shares of Viridian Therapeutics by 420.9% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 153,949 shares of the company’s stock valued at $3,353,000 after acquiring an additional 124,396 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Viridian Therapeutics by 18.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 371,311 shares of the company’s stock valued at $8,087,000 after acquiring an additional 58,094 shares during the period.

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.