Short Interest in Viridian Therapeutics, Inc. (NASDAQ:VRDN) Increases By 28.9%

Viridian Therapeutics, Inc. (NASDAQ:VRDN) was the recipient of a large growth in short interest in 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 short-interest ratio is presently 9.3 days.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

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

Viridian Therapeutics Price Performance

VRDN traded up $1.07 on Friday, hitting $18.13. 1,179,721 shares of the company’s stock were exchanged, compared to its average volume of 1,755,904. Viridian Therapeutics has a fifty-two week low of $11.40 and a fifty-two week high of $27.20. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -4.21 and a beta of 1.13. The firm has a 50-day moving average price of $19.88 and a 200-day moving average price of $19.00. The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04.

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

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.