Insider Buying: Viridian Therapeutics, Inc. (NASDAQ:VRDN) Director Purchases 1,600,000 Shares of Stock

Viridian Therapeutics, Inc. (NASDAQ:VRDN) Director Fairmount Funds Management Llc purchased 1,600,000 shares of Viridian Therapeutics stock in a transaction dated Friday, September 13th. The shares were acquired at an average cost of $18.75 per share, for a total transaction of $30,000,000.00. Following the transaction, the director now directly owns 3,445,813 shares of the company’s stock, valued at approximately $64,608,993.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Viridian Therapeutics Stock Down 1.8 %

Shares of NASDAQ VRDN traded down $0.38 during mid-day trading on Tuesday, reaching $21.18. The company had a trading volume of 1,874,773 shares, compared to its average volume of 1,123,955. The firm has a 50 day simple moving average of $15.75 and a two-hundred day simple moving average of $15.01. Viridian Therapeutics, Inc. has a 52-week low of $10.93 and a 52-week high of $24.18. The company has a current ratio of 15.82, a quick ratio of 15.82 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.35 billion, a P/E ratio of -4.71 and a beta of 1.03.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.15). Viridian Therapeutics had a negative return on equity of 83.18% and a negative net margin of 79,185.77%. The firm had revenue of $0.07 million for the quarter, compared to analysts’ expectations of $0.09 million. Sell-side analysts predict that Viridian Therapeutics, Inc. will post -3.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on VRDN. Wolfe Research assumed coverage on shares of Viridian Therapeutics in a report on Tuesday, June 11th. They set an “outperform” rating and a $29.00 target price on the stock. BTIG Research increased their price objective on Viridian Therapeutics from $46.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Royal Bank of Canada boosted their target price on Viridian Therapeutics from $35.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price target on shares of Viridian Therapeutics in a research report on Tuesday, September 10th. Finally, Oppenheimer reissued an “outperform” rating and set a $28.00 price objective (down from $31.00) on shares of Viridian Therapeutics in a research report on Monday, August 12th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Viridian Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $35.30.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. grew its position in shares of Viridian Therapeutics by 19.2% during the first quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock worth $87,000 after acquiring an additional 799 shares during the last quarter. Quest Partners LLC increased its stake in Viridian Therapeutics by 344.0% in the second quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock valued at $79,000 after purchasing an additional 4,692 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Viridian Therapeutics by 9.7% in the first quarter. Principal Financial Group Inc. now owns 11,915 shares of the company’s stock valued at $209,000 after buying an additional 1,058 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Viridian Therapeutics by 24.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock worth $156,000 after buying an additional 2,359 shares during the period. Finally, AlphaCentric Advisors LLC grew its holdings in shares of Viridian Therapeutics by 108.3% during the second quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock worth $163,000 after buying an additional 6,500 shares during the last quarter.

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.