Viridian Therapeutics (NASDAQ:VRDN) Reaches New 52-Week High – Here’s Why

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) reached a new 52-week high on Monday . The company traded as high as $25.63 and last traded at $25.62, with a volume of 10261 shares traded. The stock had previously closed at $25.21.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $27.00 target price on shares of Viridian Therapeutics in a research report on Tuesday, September 10th. The Goldman Sachs Group lifted their price objective on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Royal Bank of Canada restated an “outperform” rating and issued a $44.00 target price on shares of Viridian Therapeutics in a research note on Thursday, September 19th. BTIG Research lifted their price target on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $28.00 price target (down previously from $31.00) on shares of Viridian Therapeutics in a report on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $35.80.

Viridian Therapeutics Price Performance

The business has a 50 day moving average of $22.04 and a two-hundred day moving average of $16.78. The company has a debt-to-equity ratio of 0.05, a quick ratio of 15.82 and a current ratio of 15.82.

Insider Buying and Selling at Viridian Therapeutics

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Viridian Therapeutics by 4.1% during 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 last quarter. Swiss National Bank increased its holdings in shares of Viridian Therapeutics by 23.4% in the first quarter. Swiss National Bank now owns 82,900 shares of the company’s stock valued at $1,452,000 after purchasing an additional 15,700 shares during the period. Vanguard Group Inc. raised its stake in shares of Viridian Therapeutics by 7.8% in the first quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company’s stock worth $56,632,000 after purchasing an additional 233,331 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Viridian Therapeutics by 19.2% during the first 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 period. Finally, American International Group Inc. lifted its holdings in shares of Viridian Therapeutics by 15.4% during the first quarter. American International Group Inc. now owns 24,515 shares of the company’s stock worth $429,000 after purchasing an additional 3,266 shares during the period.

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.