Viridian Therapeutics, Inc. (NASDAQ:VRDN – Get Rating) was the recipient of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 2,830,000 shares, an increase of 25.2% from the October 31st total of 2,260,000 shares. Based on an average daily trading volume, of 475,100 shares, the days-to-cover ratio is currently 6.0 days.
Analyst Ratings Changes
Several analysts have issued reports on the company. Evercore ISI boosted their target price on Viridian Therapeutics from $40.00 to $50.00 in a research note on Monday, August 15th. SVB Leerink boosted their price objective on Viridian Therapeutics from $32.00 to $40.00 and gave the company an "outperform" rating in a research note on Monday, August 15th. LADENBURG THALM/SH SH upped their price target on Viridian Therapeutics from $33.00 to $40.00 and gave the company a "buy" rating in a research report on Tuesday, August 16th. B. Riley raised their price objective on shares of Viridian Therapeutics from $25.00 to $40.00 in a research report on Tuesday, August 16th. Finally, HC Wainwright began coverage on shares of Viridian Therapeutics in a research report on Thursday. They issued a "buy" rating and a $35.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $42.00.
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Insider Buying and Selling at Viridian Therapeutics
In other Viridian Therapeutics news, General Counsel Lara Meisner sold 8,125 shares of the business's stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $22.05, for a total value of $179,156.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.48% of the company's stock.
Institutional Investors Weigh In On Viridian Therapeutics
Several hedge funds have recently bought and sold shares of the stock. Commodore Capital LP lifted its position in Viridian Therapeutics by 64.6% during the third quarter. Commodore Capital LP now owns 2,696,340 shares of the company's stock valued at $55,302,000 after purchasing an additional 1,057,731 shares during the last quarter. VR Adviser LLC lifted its position in Viridian Therapeutics by 15.0% during the third quarter. VR Adviser LLC now owns 2,130,308 shares of the company's stock valued at $43,693,000 after purchasing an additional 277,389 shares during the last quarter. BlackRock Inc. lifted its position in Viridian Therapeutics by 39.3% during the third quarter. BlackRock Inc. now owns 1,982,062 shares of the company's stock valued at $40,653,000 after purchasing an additional 559,238 shares during the last quarter. Vanguard Group Inc. lifted its position in Viridian Therapeutics by 31.6% during the third quarter. Vanguard Group Inc. now owns 1,856,800 shares of the company's stock valued at $38,083,000 after purchasing an additional 445,898 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. bought a new stake in Viridian Therapeutics during the first quarter valued at approximately $32,164,000.
Viridian Therapeutics Price Performance
Shares of VRDN stock traded up $0.72 during trading hours on Thursday, reaching $25.99. The stock had a trading volume of 9,409 shares, compared to its average volume of 430,802. Viridian Therapeutics has a 12 month low of $9.47 and a 12 month high of $27.08. The firm has a market capitalization of $739.68 million, a PE ratio of -5.99 and a beta of 0.84. The company has a current ratio of 17.35, a quick ratio of 17.35 and a debt-to-equity ratio of 0.02. The stock's fifty day simple moving average is $20.69 and its 200 day simple moving average is $17.33.
About Viridian Therapeutics
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Viridian Therapeutics, Inc, a biotechnology company, develops treatments for patients suffering from serious diseases. It develops VRDN-001, a humanized monoclonal anti-IGF-1R antibody that is in Phase 1/2 clinical trial for the treatment of thyroid eye disease (TED); VRDN-002, an IGF-1R antibody, which is in Phase 1 clinical trial; and VRDN-003, a therapeutic antibody targeting IGF-1R for the treatment of TED.
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