Viridian Therapeutics, Inc. (NASDAQ:VRDN) Short Interest Update

Viridian Therapeutics, Inc. (NASDAQ:VRDN) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 12,050,000 shares, a growth of 28.9% from the December 15th total of 9,350,000 shares. Based on an average daily volume of 1,290,000 shares, the days-to-cover ratio is presently 9.3 days.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Quest Partners LLC increased its stake in Viridian Therapeutics by 344.0% in the 2nd quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock worth $79,000 after buying an additional 4,692 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Viridian Therapeutics during the third quarter valued at approximately $149,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Viridian Therapeutics in the third quarter valued at approximately $208,000. Arizona State Retirement System grew its stake in Viridian Therapeutics by 14.7% in the second quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock worth $171,000 after purchasing an additional 1,688 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Viridian Therapeutics by 17.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,997 shares of the company’s stock worth $318,000 after purchasing an additional 2,036 shares in the last quarter.

Analyst Ratings Changes

VRDN has been the subject of several recent research reports. TD Cowen initiated coverage on Viridian Therapeutics in a report on Monday, November 25th. They set a “buy” rating for the company. Wells Fargo & Company restated an “equal weight” rating and set a $27.00 target price (down previously from $37.00) on shares of Viridian Therapeutics in a research note on Thursday, December 19th. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price target on shares of Viridian Therapeutics in a research report on Tuesday, January 7th. BTIG Research increased their price objective on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, HC Wainwright restated a “buy” rating and set a $34.00 target price on shares of Viridian Therapeutics in a research note on Monday, December 16th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.70.

Viridian Therapeutics Trading Up 6.3 %

VRDN traded up $1.07 during trading on Friday, reaching $18.13. The company had a trading volume of 1,179,721 shares, compared to its average volume of 1,755,904. The company has a quick ratio of 18.55, a current ratio of 18.55 and a debt-to-equity ratio of 0.04. The business has a 50 day simple moving average of $19.88 and a 200-day simple moving average of $19.00. The stock has a market cap of $1.44 billion, a P/E ratio of -4.21 and a beta of 1.13. Viridian Therapeutics has a 52 week low of $11.40 and a 52 week high of $27.20.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The firm had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.08 million. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. On average, equities analysts anticipate that Viridian Therapeutics will post -4.03 EPS for the current fiscal year.

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.