Viridian Therapeutics Inc (NASDAQ: VRDN) stock jumped 4.47% on Friday to $15.88 against a previous-day closing price of $15.20. With 0.53 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.73 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $16.00 whereas the lowest price it dropped to was $15.12. The 52-week range on VRDN shows that it touched its highest point at $39.00 and its lowest point at $10.93 during that stretch. It currently has a 1-year price target of $38.57. Beta for the stock currently stands at 0.99.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of VRDN was up-trending over the past week, with a rise of 15.41%, but this was up by 35.03% over a month. Three-month performance dropped to -20.16% while six-month performance fell -31.23%. The stock lost -30.96% in the past year, while it has lost -45.64% so far this year. A look at the trailing 12-month EPS for VRDN yields -5.11 with Next year EPS estimates of -4.30. For the next quarter, that number is -1.01. This implies an EPS growth rate of -22.45% for this year and 13.21% for next year.
Float and Shares Shorts:
At present, 52.59 million VRDN shares are outstanding with a float of 45.24 million shares on hand for trading. On Oct 30, 2023, short shares totaled 8.16 million, which was 18.69% higher than short shares on Sep 28, 2023. In addition to Dr. Barrett Katz CMO, M.B.A., M.D. as the firm’s Chief Medical Officer, Mr. Stephen F. Mahoney J.D., MBA serves as its CEO, President & Director.
Other institutions hold 74.50% of VRDN, in contrast to 5.21% held by mutual funds. Shares owned by individuals account for 29.38%. As the largest shareholder in VRDN with 8.43% of the stake, Paradigm BioCapital Advisors LP holds 3,681,747 shares worth 3,681,747. A second-largest stockholder of VRDN, Deep Track Capital LP, holds 2,963,267 shares, controlling over 6.79% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in VRDN, holding 2,941,690 shares or 6.74% stake. With a 5.21% stake in VRDN, the SPDR S&P Biotech ETF is the largest stakeholder. A total of 2,273,136 shares are owned by the mutual fund manager. The Polar Capital Funds Plc – Biotech, which owns about 3.44% of VRDN stock, is the second-largest Mutual Fund holder. It holds 1,500,000 shares valued at 18.75 million. Vanguard Total Stock Market ETF holds 3.16% of the stake in VRDN, owning 1,378,789 shares worth 17.23 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for VRDN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With VRDN analysts setting a high price target of $50.00 and a low target of $29.00, the average target price over the next 12 months is $38.57. Based on these targets, VRDN could surge 214.86% to reach the target high and rise by 82.62% to reach the target low. Reaching the average price target will result in a growth of 142.88% from current levels.
Summary of Insider Activity:
Insiders traded VRDN stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 21 while that of sell transactions has risen to 19 over the past year. The total number of shares bought during that period was 449,918 while 270,389 shares were sold.