Viridian Therapeutics (NASDAQ:VRDN) Sets New 52-Week High After Insider Buying Activity

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) hit a new 52-week high during mid-day trading on Tuesday following insider buying activity. The stock traded as high as $24.59 and last traded at $23.80, with a volume of 329955 shares traded. The stock had previously closed at $22.75.

Specifically, CEO Stephen F. Mahoney bought 21,400 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average price of $23.33 per share, with a total value of $499,262.00. Following the completion of the acquisition, the chief executive officer now directly owns 21,400 shares of the company’s stock, valued at approximately $499,262. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Thomas W. Beetham acquired 5,000 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were acquired at an average price of $23.41 per share, with a total value of $117,050.00. Following the completion of the purchase, the chief operating officer now owns 6,000 shares in the company, valued at approximately $140,460. The disclosure for this purchase can be found here.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on VRDN. Wedbush reissued an “outperform” rating and set a $42.00 price target on shares of Viridian Therapeutics in a report on Monday, July 29th. The Goldman Sachs Group boosted their price target on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Oppenheimer reaffirmed an “outperform” rating and set a $28.00 price objective (down from $31.00) on shares of Viridian Therapeutics in a report on Monday, August 12th. Wolfe Research assumed coverage on shares of Viridian Therapeutics in a research note on Tuesday, June 11th. They issued an “outperform” rating and a $29.00 price target on the stock. Finally, BTIG Research raised their target price on Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Viridian Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $35.80.

Viridian Therapeutics Stock Performance

The stock has a 50-day moving average of $17.15 and a 200 day moving average of $15.24. The company has a quick ratio of 15.82, a current ratio of 15.82 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.52 billion, a PE ratio of -5.06 and a beta of 1.03.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.15). The company had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $0.09 million. Viridian Therapeutics had a negative net margin of 79,185.77% and a negative return on equity of 83.18%. Equities analysts predict that Viridian Therapeutics, Inc. will post -3.94 EPS for the current fiscal year.

Institutional Trading of Viridian Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Vestal Point Capital LP purchased a new stake in Viridian Therapeutics during the 4th quarter worth approximately $21,780,000. Novo Holdings A S grew its position in shares of Viridian Therapeutics by 81.8% during the second quarter. Novo Holdings A S now owns 2,000,000 shares of the company’s stock worth $26,020,000 after buying an additional 900,000 shares in the last quarter. Perceptive Advisors LLC grew its holdings in Viridian Therapeutics by 71.1% during the 4th quarter. Perceptive Advisors LLC now owns 1,730,212 shares of the company’s stock worth $37,684,000 after acquiring an additional 719,007 shares in the last quarter. Maverick Capital Ltd. increased its position in shares of Viridian Therapeutics by 22.9% in the 2nd quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock valued at $43,036,000 after purchasing an additional 615,531 shares during the last quarter. Finally, RTW Investments LP acquired a new stake in shares of Viridian Therapeutics in the 4th quarter valued at $13,195,000.

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.