Viridian Therapeutics (NASDAQ:VRDN) Sets New 1-Year High – Still a Buy?

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

Analyst Upgrades and Downgrades

VRDN has been the subject of several analyst reports. Wedbush reiterated an “outperform” rating and issued a $42.00 target price on shares of Viridian Therapeutics in a research note on Monday, July 29th. The Goldman Sachs Group increased their target price on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. HC Wainwright restated a “buy” rating and set a $27.00 target price on shares of Viridian Therapeutics in a research report on Tuesday, September 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 price target on shares of Viridian Therapeutics in a report on Monday, October 28th. Finally, Oppenheimer reissued an “outperform” rating and issued a $28.00 price objective (down from $31.00) on shares of Viridian Therapeutics in a report on Monday, August 12th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.80.

Viridian Therapeutics Trading Down 12.8 %

The stock has a 50 day moving average price of $22.04 and a 200-day moving average price of $16.78. The company has a debt-to-equity ratio of 0.05, a current ratio of 15.82 and a quick ratio of 15.82.

Insider Transactions at Viridian Therapeutics

In other Viridian Therapeutics news, CEO Stephen F. Mahoney purchased 21,400 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were purchased at an average cost of $23.33 per share, with a total value of $499,262.00. Following the completion of the purchase, the chief executive officer now owns 21,400 shares in the company, valued at approximately $499,262. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Stephen F. Mahoney purchased 21,400 shares of the business’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 owns 21,400 shares in the company, valued at $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 stock in a transaction on Friday, September 27th. The shares were bought at an average cost 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 of the company’s stock, valued at $140,460. The trade was a 500.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 1,626,400 shares of company stock valued at $30,616,312 over the last 90 days. 0.65% of the stock is currently owned by corporate insiders.

Institutional Trading of Viridian Therapeutics

Hedge funds have recently made changes to their positions in the company. Fisher Asset Management LLC grew its holdings in shares of Viridian Therapeutics by 25.1% during the 3rd quarter. Fisher Asset Management LLC now owns 494,924 shares of the company’s stock worth $11,260,000 after purchasing an additional 99,427 shares during the period. Algert Global LLC raised its stake in shares of Viridian Therapeutics by 107.1% in the 3rd quarter. Algert Global LLC now owns 114,913 shares of the company’s stock valued at $2,614,000 after acquiring an additional 59,420 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Viridian Therapeutics by 6.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 516,213 shares of the company’s stock worth $11,744,000 after acquiring an additional 32,292 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Viridian Therapeutics during the 3rd quarter worth approximately $422,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Viridian Therapeutics in the 3rd quarter valued at approximately $208,000.

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.