Viridian Therapeutics Inc. (NASDAQ:VRDN) closed Tuesday at $37.11 per share, up from $35.64 a day earlier. While Viridian Therapeutics Inc. has overperformed by 4.12%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, VRDN rose by 112.18%, with highs and lows ranging from $38.03 to $9.47, whereas the simple moving average jumped by 92.86% in the last 200 days.
On December 19, 2022, Needham started tracking Viridian Therapeutics Inc. (NASDAQ: VRDN) recommending Buy. A report published by Cowen on December 19, 2022, Initiated its previous ‘Outperform’ rating for VRDN. Credit Suisse also rated VRDN shares as ‘Outperform’, setting a target price of $51 on the company’s shares in an initiating report dated December 16, 2022. H.C. Wainwright Initiated an Buy rating on December 01, 2022, and assigned a price target of $35. B. Riley Securities initiated its ‘Buy’ rating for VRDN, as published in its report on June 23, 2022. SVB Leerink’s report from November 18, 2021 suggests a price prediction of $32 for VRDN shares, giving the stock a ‘Outperform’ rating. Evercore ISI also rated the stock as ‘Outperform’.
Analysis of Viridian Therapeutics Inc. (VRDN)
Further, the quarter-over-quarter increase in sales is 500.00%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Viridian Therapeutics Inc.’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -109.30% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 17.30, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and VRDN is recording an average volume of 630.13K. On a monthly basis, the volatility of the stock is set at 5.29%, whereas on a weekly basis, it is put at 4.34%, with a loss of -1.25% over the past seven days. Furthermore, long-term investors anticipate a median target price of $46.08, showing growth from the present price of $37.11, which can serve as yet another indication of whether VRDN is worth investing in or should be passed over.
How Do You Analyze Viridian Therapeutics Inc. Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.41%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 95.00% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in VRDN shares?
The recent increase in stakes in VRDN appears to be a result of several institutional investors and hedge funds increasing their positions. Commodore Capital LP’s position in VRDN has increased by 64.55% in the first quarter. The company now owns 2,696,340 shares of the stock, with a value of $78.76 million, following the purchase of 1,057,731 additional shares during the last quarter. Deep Track Capital LP made another increased to its shares in VRDN during the first quarter, upping its stake by 68.36%. During the last quarter, the company picked up 800,000 additional shares for a total stake of worth $57.55 million, bringing number of shares owned by the company to 1,970,290.
During the first quarter, The Vanguard Group, Inc. added a 435,051 position in VRDN. BVF Partners LP sold an additional 2172.0 shares in the last quarter, decreasing its holdings by -0.12%, now holding 1.74 million shares worth $50.88 million. At the end of the first quarter, Paradigm BioCapital Advisors LP increased its VRDN holdings by 25.23% and now holds 1.64 million VRDN shares valued at $47.79 million with the added 0.33 million shares during the period. VRDN shares are owned by institutional investors to the tune of 95.00% at present.