Viridian Therapeutics (NASDAQ:VRDN) Shares Gap Up – What’s Next?

Viridian Therapeutics, Inc. (NASDAQ:VRDN)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $25.71, but opened at $27.04. Viridian Therapeutics shares last traded at $24.62, with a volume of 368,876 shares.

Wall Street Analyst Weigh In

Several research analysts recently commented on VRDN shares. BTIG Research lifted their target price on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Needham & Company LLC reissued a “buy” rating and set a $38.00 target price on shares of Viridian Therapeutics in a research report on Wednesday. The Goldman Sachs Group upped their price target on Viridian Therapeutics from $25.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Wedbush restated an “outperform” rating and set a $42.00 price objective on shares of Viridian Therapeutics in a research report on Monday, July 29th. Finally, Oppenheimer reiterated an “outperform” rating and set a $28.00 price target (down previously from $31.00) on shares of Viridian Therapeutics in a research note on Monday, August 12th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Viridian Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $35.80.

Viridian Therapeutics Price Performance

The company has a current ratio of 15.82, a quick ratio of 15.82 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -5.22 and a beta of 1.10. The company has a 50 day moving average of $22.35 and a 200 day moving average of $16.89.

Insider Buying and Selling at Viridian Therapeutics

In other news, Director Fairmount Funds Management Llc purchased 1,600,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were purchased at an average price of $18.75 per share, with a total value of $30,000,000.00. Following the purchase, the director now directly owns 3,445,813 shares of the company’s stock, valued at $64,608,993.75. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Viridian Therapeutics news, Director Fairmount Funds Management Llc bought 1,600,000 shares of Viridian Therapeutics stock in a transaction that occurred on Friday, September 13th. The stock was acquired at an average price of $18.75 per share, for a total transaction of $30,000,000.00. Following the completion of the acquisition, the director now owns 3,445,813 shares of the company’s stock, valued at $64,608,993.75. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Thomas W. Beetham purchased 5,000 shares of the stock in a transaction on Friday, September 27th. The stock was acquired at an average price of $23.41 per share, for a total transaction of $117,050.00. Following the completion of the purchase, the chief operating officer now directly owns 6,000 shares in the company, valued at approximately $140,460. The trade was a 500.00 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 1,626,400 shares of company stock valued at $30,616,312. 0.65% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. increased its stake in shares of Viridian Therapeutics by 19.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock worth $87,000 after purchasing an additional 799 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Viridian Therapeutics by 4.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,822 shares of the company’s stock valued at $505,000 after buying an additional 1,135 shares during the period. Arizona State Retirement System lifted its position in shares of Viridian Therapeutics by 14.7% in the second quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock valued at $171,000 after buying an additional 1,688 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Viridian Therapeutics by 24.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock worth $156,000 after acquiring an additional 2,359 shares during the period. Finally, AlphaCentric Advisors LLC raised its stake in Viridian Therapeutics by 20.0% in the 3rd quarter. AlphaCentric Advisors LLC now owns 15,000 shares of the company’s stock valued at $341,000 after acquiring an additional 2,500 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.