Viridian Therapeutics, Inc. (NASDAQ:VRDN) Short Interest Update

Key Points

• Viridian Therapeutics experienced a substantial increase in short interest, jumping 576.7% in July, bringing the total to 11,640,000 shares.
• Several institutional investors significantly adjusted their holdings, with American Century Companies Inc. increasing its stake by 304.9% during the fourth quarter.
• Analysts have mixed price targets for Viridian, with an average target of $37.00 and a consensus rating of "Moderate Buy."

Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 11,640,000 shares, anincreaseof576.7% from the June 30th total of 1,720,000 shares. Based on an average daily volume of 736,900 shares, the short-interest ratio is presently 15.8 days. Based on an average daily volume of 736,900 shares, the short-interest ratio is presently 15.8 days.

Institutional Trading of Viridian Therapeutics

Hedge funds have recently modified their holdings of the stock. American Century Companies Inc. lifted its holdings in Viridian Therapeutics by 304.9% during the 4th quarter. American Century Companies Inc. now owns 113,562 shares of the company's stock worth $2,177,000 after buying an additional 85,512 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Viridian Therapeutics during the fourth quarter valued at $219,000. Vanguard Group Inc. boosted its holdings in Viridian Therapeutics by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 4,595,049 shares of the company's stock valued at $88,087,000 after acquiring an additional 174,952 shares during the last quarter. Corebridge Financial Inc. boosted its holdings in Viridian Therapeutics by 8.6% in the fourth quarter. Corebridge Financial Inc. now owns 36,336 shares of the company's stock valued at $697,000 after acquiring an additional 2,878 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in Viridian Therapeutics by 3.8% in the fourth quarter. Alliancebernstein L.P. now owns 2,286,994 shares of the company's stock worth $43,842,000 after purchasing an additional 84,255 shares during the period.

Analyst Ratings Changes

VRDN has been the subject of a number of recent research reports. HC Wainwright reissued a "buy" rating and issued a $34.00 target price on shares of Viridian Therapeutics in a report on Wednesday, April 23rd. JMP Securities dropped their price objective on Viridian Therapeutics from $42.00 to $38.00 and set a "market outperform" rating for the company in a research note on Wednesday, May 7th. The Goldman Sachs Group reduced their target price on shares of Viridian Therapeutics from $31.00 to $27.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Needham & Company LLC reaffirmed a "buy" rating and issued a $36.00 target price on shares of Viridian Therapeutics in a report on Tuesday, May 20th. Finally, Royal Bank Of Canada cut their price target on shares of Viridian Therapeutics from $46.00 to $45.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, Viridian Therapeutics has an average rating of "Moderate Buy" and an average price target of $37.00.

Viridian Therapeutics Price Performance

Shares of VRDN stock opened at $17.41 on Friday. Viridian Therapeutics has a 52 week low of $9.90 and a 52 week high of $27.20. The stock has a market capitalization of $1.42 billion, a PE ratio of -4.52 and a beta of 0.42. The company has a debt-to-equity ratio of 0.05, a quick ratio of 19.49 and a current ratio of 19.49. The stock's fifty day moving average is $15.63 and its 200-day moving average is $15.25.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.87) EPS for the quarter, topping analysts' consensus estimates of ($0.95) by $0.08. The firm had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.16 million. Viridian Therapeutics had a negative net margin of 102,092.39% and a negative return on equity of 70.61%. The business's quarterly revenue was up .0% on a year-over-year basis. Equities research analysts expect that Viridian Therapeutics will post -4.03 EPS for the current fiscal 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.

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