Viridian Therapeutics, Inc. (NASDAQ:VRDN) Director Buys $30,000,000.00 in Stock

Viridian Therapeutics, Inc. (NASDAQ:VRDN) Director Fairmount Funds Management Llc bought 1,600,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were bought at an average price of $18.75 per share, for a total transaction of $30,000,000.00. Following the acquisition, the director now directly owns 3,445,813 shares of the company’s stock, valued at approximately $64,608,993.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Viridian Therapeutics Stock Performance

Shares of NASDAQ VRDN opened at $22.50 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 15.82 and a quick ratio of 15.82. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -5.00 and a beta of 1.03. The stock’s fifty day moving average price is $15.93 and its two-hundred day moving average price is $15.05. Viridian Therapeutics, Inc. has a one year low of $10.93 and a one year high of $24.18.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.15). Viridian Therapeutics had a negative net margin of 79,185.77% and a negative return on equity of 83.18%. The business had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.09 million. On average, equities analysts forecast that Viridian Therapeutics, Inc. will post -3.93 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in VRDN. Swiss National Bank grew its position in Viridian Therapeutics by 1.2% during the fourth quarter. Swiss National Bank now owns 67,200 shares of the company’s stock worth $1,464,000 after buying an additional 800 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Viridian Therapeutics by 18.5% during the 4th 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. Affinity Asset Advisors LLC acquired a new stake in shares of Viridian Therapeutics during the 4th quarter worth $1,089,000. RTW Investments LP bought a new position in shares of Viridian Therapeutics in the fourth quarter worth $13,195,000. Finally, Vestal Point Capital LP acquired a new position in Viridian Therapeutics in the fourth quarter valued at about $21,780,000.

Analyst Ratings Changes

Several equities analysts recently weighed in on VRDN shares. BTIG Research raised their target price on shares of Viridian Therapeutics from $46.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. HC Wainwright reiterated a “buy” rating and set a $27.00 price target on shares of Viridian Therapeutics in a report on Tuesday, September 10th. Wedbush reaffirmed an “outperform” rating and issued a $42.00 price objective on shares of Viridian Therapeutics in a research report on Monday, July 29th. The Goldman Sachs Group lifted their target price on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Finally, Oppenheimer restated an “outperform” rating and issued a $28.00 price target (down previously from $31.00) on shares of Viridian Therapeutics in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Viridian Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.30.

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.