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

Key Points

• Short interest jumped 31.7% in March to 10,843,213 shares (about 10.8% of float), leaving a short-interest ratio of roughly 4.0 days based on average volume.
• Analyst sentiment remains a Moderate Buy overall (13 Buys, 1 Hold, 1 Sell) but several firms have recently cut price targets, including Goldman Sachs, Wedbush and Wells Fargo, shifting nearer-term expectations lower.
• Viridian reported weak quarterly results—EPS of ($1.08) vs. ($0.90) expected and minimal revenue—while the stock trades near $15.19 with 50-/200-day averages above $25, highlighting recent downward pressure on valuation.

Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 10,843,213 shares, an increase of 31.7% from the March 15th total of 8,233,141 shares. Approximately 10.8% of the shares of the stock are short sold. Based on an average trading volume of 2,738,346 shares, the short-interest ratio is presently 4.0 days.

Analyst Ratings Changes

Several research analysts recently weighed in on VRDN shares. Evercore reissued an "outperform" rating and issued a $44.00 target price on shares of Viridian Therapeutics in a research note on Tuesday, January 20th. Truist Financial cut their target price on shares of Viridian Therapeutics from $41.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, January 8th. The Goldman Sachs Group cut their target price on shares of Viridian Therapeutics from $36.00 to $31.00 and set a "buy" rating for the company in a research note on Tuesday, April 7th. Wedbush cut their price objective on shares of Viridian Therapeutics from $37.00 to $31.00 and set an "outperform" rating for the company in a research report on Wednesday, April 8th. Finally, Wells Fargo & Company cut their price objective on shares of Viridian Therapeutics from $29.00 to $20.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 31st. Thirteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $37.57.

Viridian Therapeutics Stock Performance

NASDAQ:VRDN opened at $15.19 on Wednesday. The firm has a 50 day simple moving average of $25.77 and a 200-day simple moving average of $27.66. The company has a debt-to-equity ratio of 0.08, a current ratio of 12.65 and a quick ratio of 12.65. The firm has a market cap of $1.55 billion, a PE ratio of -4.62 and a beta of 1.16. Viridian Therapeutics has a 1-year low of $11.76 and a 1-year high of $34.29.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($1.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.90) by ($0.18). The firm had revenue of $0.13 million during the quarter, compared to analyst estimates of $15.75 million. Viridian Therapeutics had a negative net margin of 483.57% and a negative return on equity of 83.25%. On average, equities analysts expect that Viridian Therapeutics will post -4.03 EPS for the current year.

Hedge Funds Weigh In On Viridian Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. ANTIPODES PARTNERS Ltd acquired a new position in Viridian Therapeutics during the fourth quarter worth approximately $36,000. Aster Capital Management DIFC Ltd acquired a new position in Viridian Therapeutics during the third quarter worth approximately $35,000. Farther Finance Advisors LLC increased its position in Viridian Therapeutics by 332.1% during the third quarter. Farther Finance Advisors LLC now owns 1,940 shares of the company's stock worth $42,000 after purchasing an additional 1,491 shares during the last quarter. Bessemer Group Inc. increased its position in Viridian Therapeutics by 947.7% during the third quarter. Bessemer Group Inc. now owns 2,085 shares of the company's stock worth $45,000 after purchasing an additional 1,886 shares during the last quarter. Finally, Larson Financial Group LLC acquired a new position in Viridian Therapeutics during the third quarter worth approximately $52,000.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc NASDAQ: VRDN is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted antibody therapeutics for patients suffering from rare and serious diseases. The company's lead program, VRDN-001, is a fully human monoclonal antibody that antagonizes the insulin-like growth factor-1 receptor (IGF-1R), with an initial focus on thyroid eye disease (TED). By selectively inhibiting IGF-1R signaling, VRDN-001 aims to reduce inflammation and tissue remodeling associated with TED and related disorders.

In addition to VRDN-001, Viridian is advancing a second antibody program, VRDN-002, which targets complement-mediated pathways implicated in autoimmune and inflammatory diseases.

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