HC Wainwright Increases Viridian Therapeutics (NASDAQ:VRDN) Price Target to $34.00

Viridian Therapeutics (NASDAQ:VRDN) had its price target hoisted by HC Wainwright from $27.00 to $34.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 68.82% from the company’s previous close.

VRDN has been the subject of several other research reports. BTIG Research boosted their price target on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, September 26th. The Goldman Sachs Group upped their target price on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Oppenheimer reaffirmed an “outperform” rating and set a $28.00 price target (down previously from $31.00) on shares of Viridian Therapeutics in a report on Monday, August 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $44.00 price objective on shares of Viridian Therapeutics in a report on Thursday, September 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 target price on shares of Viridian Therapeutics in a research note on Wednesday. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.33.

Viridian Therapeutics Stock Performance

Shares of VRDN stock opened at $20.14 on Thursday. 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 business has a 50 day moving average of $22.64 and a two-hundred day moving average of $16.97. The company has a market cap of $1.60 billion, a P/E ratio of -4.67 and a beta of 1.10. Viridian Therapeutics has a 52 week low of $11.40 and a 52 week high of $27.20.

Insider Transactions at Viridian Therapeutics

In related news, CEO Stephen F. Mahoney bought 21,400 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average cost of $23.33 per share, for a total transaction of $499,262.00. Following the acquisition, the chief executive officer now directly owns 21,400 shares of the company’s stock, valued at $499,262. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Fairmount Funds Management Llc purchased 1,600,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was bought at an average price of $18.75 per share, with a total value of $30,000,000.00. Following the transaction, the director now directly owns 3,445,813 shares in the company, valued at $64,608,993.75. This trade represents a 86.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 1,626,400 shares of company stock valued at $30,616,312 in the last quarter. Insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. FMR LLC boosted its stake in Viridian Therapeutics by 16.8% in the 3rd quarter. FMR LLC now owns 11,183,478 shares of the company’s stock worth $254,424,000 after purchasing an additional 1,610,130 shares during the period. Maverick Capital Ltd. boosted its position in shares of Viridian Therapeutics by 22.9% in the second quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock worth $43,036,000 after buying an additional 615,531 shares during the period. Vanguard Group Inc. grew its holdings in shares of Viridian Therapeutics by 7.8% during the first quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company’s stock valued at $56,632,000 after buying an additional 233,331 shares in the last quarter. Novo Holdings A S raised its position in Viridian Therapeutics by 19.3% during the third quarter. Novo Holdings A S now owns 2,385,000 shares of the company’s stock valued at $54,259,000 after buying an additional 385,000 shares during the period. Finally, Great Point Partners LLC lifted its stake in Viridian Therapeutics by 50.0% in the 3rd quarter. Great Point Partners LLC now owns 750,000 shares of the company’s stock worth $17,062,000 after acquiring an additional 250,000 shares in the last quarter.

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.