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

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

Institutional Trading of Viridian Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of VRDN. Rhumbline Advisers lifted its stake in shares of Viridian Therapeutics by 13.1% in the 4th quarter. Rhumbline Advisers now owns 99,938 shares of the company’s stock valued at $1,916,000 after purchasing an additional 11,594 shares during the period. R Squared Ltd acquired a new position in shares of Viridian Therapeutics in the fourth quarter worth about $26,000. Moody Aldrich Partners LLC purchased a new stake in shares of Viridian Therapeutics during the 4th quarter worth about $1,125,000. SG Americas Securities LLC grew its position in shares of Viridian Therapeutics by 89.1% during the 4th quarter. SG Americas Securities LLC now owns 31,085 shares of the company’s stock valued at $596,000 after acquiring an additional 14,644 shares during the period. Finally, Hennion & Walsh Asset Management Inc. increased its stake in shares of Viridian Therapeutics by 6.8% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 210,899 shares of the company’s stock valued at $4,043,000 after purchasing an additional 13,498 shares in the last quarter.

Viridian Therapeutics Stock Up 3.3 %

NASDAQ:VRDN opened at $20.08 on Friday. 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 has a twelve month low of $11.40 and a twelve month high of $27.20. The company has a market cap of $1.59 billion, a PE ratio of -4.66 and a beta of 1.13. The company’s 50 day moving average is $19.43 and its two-hundred day moving average is $19.40.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results 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 return on equity of 70.12% and a negative net margin of 85,127.16%. The firm had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.08 million. Analysts anticipate that Viridian Therapeutics will post -4.03 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on VRDN shares. Needham & Company LLC reissued a “buy” rating and issued a $38.00 price target on shares of Viridian Therapeutics in a research report on Tuesday, January 7th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $27.00 target price (down previously from $37.00) on shares of Viridian Therapeutics in a research note on Thursday, December 19th. 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. Royal Bank of Canada lifted their price objective on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. Finally, HC Wainwright reiterated a “buy” rating and set a $34.00 price objective 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.70.

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.