Viridian Therapeutics (NASDAQ:VRDN) Shares Gap Up – Here’s Why

Viridian Therapeutics, Inc. (NASDAQ:VRDN) shares 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 changing hands.

Analyst Upgrades and Downgrades

VRDN has been the subject of a number of research reports. The Goldman Sachs Group lifted their price target on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Needham & Company LLC restated a “buy” rating and set a $38.00 price objective on shares of Viridian Therapeutics in a research report on Monday, October 28th. HC Wainwright restated a “buy” rating and set a $27.00 price objective on shares of Viridian Therapeutics in a research report on Tuesday, September 10th. 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, Royal Bank of Canada restated an “outperform” rating and set a $44.00 price objective on shares of Viridian Therapeutics in a research report on Thursday, September 19th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Viridian Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $35.80.

Viridian Therapeutics Stock Down 8.2 %

The company has a quick ratio of 15.82, a current ratio of 15.82 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.51 billion, a P/E ratio of -5.68 and a beta of 1.10. The business has a fifty day moving average of $22.04 and a 200 day moving average of $16.78.

Insider Buying and Selling

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 shares were acquired at an average price of $23.41 per share, for a total transaction of $117,050.00. Following the transaction, the chief operating officer now directly owns 6,000 shares of the company’s stock, valued at approximately $140,460. The trade was a 500.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Viridian Therapeutics news, COO Thomas W. Beetham bought 5,000 shares of Viridian Therapeutics stock in a transaction dated Friday, September 27th. The stock was bought at an average cost of $23.41 per share, with a total value of $117,050.00. Following the completion of the acquisition, 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Stephen F. Mahoney bought 21,400 shares of the company’s stock in a transaction on Friday, September 27th. The shares were bought at an average price of $23.33 per share, for a total transaction of $499,262.00. Following the transaction, the chief executive officer now owns 21,400 shares of the company’s stock, valued at approximately $499,262. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 1,626,400 shares of company stock valued at $30,616,312. Insiders own 0.65% of the company’s stock.

Institutional Trading of Viridian Therapeutics

Several large investors have recently bought and sold shares of VRDN. Novo Holdings A S lifted its holdings in shares of Viridian Therapeutics by 81.8% during the second quarter. Novo Holdings A S now owns 2,000,000 shares of the company’s stock valued at $26,020,000 after purchasing an additional 900,000 shares during the last quarter. Maverick Capital Ltd. grew its position in shares of Viridian Therapeutics by 22.9% during the 2nd quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock valued at $43,036,000 after acquiring an additional 615,531 shares during the period. Candriam S.C.A. grew its position in shares of Viridian Therapeutics by 167.8% during the 2nd quarter. Candriam S.C.A. now owns 749,804 shares of the company’s stock valued at $9,754,000 after acquiring an additional 469,804 shares during the period. Vanguard Group Inc. boosted its holdings in Viridian Therapeutics by 7.8% in the 1st quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company’s stock worth $56,632,000 after buying an additional 233,331 shares during the period. Finally, Millennium Management LLC boosted its holdings in Viridian Therapeutics by 1,014.7% in the 2nd quarter. Millennium Management LLC now owns 228,182 shares of the company’s stock worth $2,969,000 after buying an additional 207,711 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.