Viridian Therapeutics (NASDAQ:VRDN) Sees Unusually-High Trading Volume

Viridian Therapeutics, Inc. (NASDAQ:VRDN) saw unusually-high trading volume on Friday . Approximately 411,187 shares traded hands during mid-day trading, a decline of 55% from the previous session’s volume of 923,307 shares.The stock last traded at $15.40 and had previously closed at $15.16.

Analyst Upgrades and Downgrades

VRDN has been the subject of several recent analyst reports. B. Riley decreased their target price on shares of Viridian Therapeutics from $29.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, March 21st. Wedbush lifted their target price on shares of Viridian Therapeutics from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. HC Wainwright reaffirmed a “buy” rating and issued a $37.00 target price on shares of Viridian Therapeutics in a report on Thursday, February 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 target price on shares of Viridian Therapeutics in a report on Wednesday, March 20th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $36.60.

Viridian Therapeutics Trading Up 1.2 %

The stock’s 50 day moving average is $17.78 and its 200-day moving average is $17.51. The company has a debt-to-equity ratio of 0.09, a quick ratio of 18.26 and a current ratio of 18.26.

Viridian Therapeutics (NASDAQ:VRDN) last announced its earnings results on Tuesday, February 27th. The company reported ($1.35) earnings per share for the quarter, missing the consensus estimate of ($0.98) by ($0.37). Viridian Therapeutics had a negative net margin of 75,711.48% and a negative return on equity of 121.80%. The firm had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $0.15 million. During the same period in the prior year, the company posted ($1.13) EPS. The company’s revenue was down 31.4% compared to the same quarter last year. On average, equities research analysts predict that Viridian Therapeutics, Inc. will post -4.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Fairmount Funds Management Llc purchased 476,190 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was acquired at an average cost of $21.00 per share, with a total value of $9,999,990.00. Following the completion of the transaction, the director now owns 1,839,954 shares in the company, valued at approximately $38,639,034. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.43% of the stock is owned by company insiders.

Hedge Funds Weigh In On Viridian Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dark Forest Capital Management LP purchased a new position in shares of Viridian Therapeutics in the 3rd quarter valued at approximately $264,000. Schonfeld Strategic Advisors LLC raised its position in Viridian Therapeutics by 362.3% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 108,037 shares of the company’s stock worth $1,657,000 after buying an additional 84,670 shares during the last quarter. StoneCrest Wealth Management Inc. purchased a new position in Viridian Therapeutics during the 4th quarter worth approximately $605,000. SG Americas Securities LLC raised its position in Viridian Therapeutics by 150.5% during the 3rd quarter. SG Americas Securities LLC now owns 102,667 shares of the company’s stock worth $1,575,000 after buying an additional 61,676 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Viridian Therapeutics by 25.2% during the 3rd quarter. Wellington Management Group LLP now owns 215,648 shares of the company’s stock worth $3,308,000 after buying an additional 43,349 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.