Viridian Therapeutics Inc. [VRDN] is 11.28% higher this YTD. Is it still time to buy?

Viridian Therapeutics Inc. [NASDAQ: VRDN] gained 49.36% on the last trading session, reaching $22.00 price per share at the time. The company report on August 15, 2022 that Viridian Therapeutics Announces Proposed Underwritten Public Offering of Common Stock and Preferred Stock.


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Viridian Therapeutics, Inc. (NASDAQ: VRDN), a biotechnology company advancing new treatments for patients suffering from serious diseases underserved by current therapies, today announced that it has commenced an underwritten public offering of $175 million of shares of its common stock and series B preferred stock. All of the securities to be sold in the underwritten public offering are being offered by Viridian. In addition, Viridian intends to grant the underwriters a 30-day option to purchase up to an additional $26.25 million of shares of its common stock. Each share of series B preferred stock will be convertible into 66.67 shares of common stock at the election of the holder, subject to beneficial ownership conversion limits applicable to the series B preferred stock.

Viridian intends to use the proceeds from the proposed underwritten public offering of its shares of common stock and series B preferred stock to further its clinical development programs, as well as for working capital and general corporate purposes.

Viridian Therapeutics Inc. represents 26.13 million in outstanding shares, while the company has a total market value of $571.34 million with the latest information. VRDN stock price has been found in the range of $19.25 to $25.3799.

If compared to the average trading volume of 347.25K shares, VRDN reached a trading volume of 12733931 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Viridian Therapeutics Inc. [VRDN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for VRDN shares is $33.11 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on VRDN stock is a recommendation set at 1.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

B. Riley Securities have made an estimate for Viridian Therapeutics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 23, 2022. While these analysts kept the previous recommendation, SVB Leerink raised their target price to Outperform. The new note on the price target was released on November 18, 2021, representing the official price target for Viridian Therapeutics Inc. stock. Previously, the target price had yet another raise to $40, while Evercore ISI analysts kept a Outperform rating on VRDN stock.

The Average True Range (ATR) for Viridian Therapeutics Inc. is set at 1.57, with the Price to Sales ratio for VRDN stock in the period of the last 12 months amounting to 336.08. The Price to Book ratio for the last quarter was 10.53, with the Price to Cash per share for the same quarter was set at 6.76.

Trading performance analysis for VRDN stock

Viridian Therapeutics Inc. [VRDN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 58.27. With this latest performance, VRDN shares gained by 63.33% in over the last four-week period, additionally plugging by 9.07% over the last 6 months – not to mention a rise of 86.84% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for VRDN stock in for the last two-week period is set at 86.62, with the RSI for the last a single of trading hit 91.91, and the three-weeks RSI is set at 80.88 for Viridian Therapeutics Inc. [VRDN]. The present Moving Average for the last 50 days of trading for this stock 12.55, while it was recorded at 15.55 for the last single week of trading, and 16.56 for the last 200 days.

Viridian Therapeutics Inc. [VRDN]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Viridian Therapeutics Inc. [VRDN] shares currently have an operating margin of -2690.79 and a Gross Margin at +79.08. Viridian Therapeutics Inc.’s Net Margin is presently recorded at -2680.16.

Return on Equity for this stock declined to -51.61, with Return on Assets sitting at -47.42.

Viridian Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 12.50 and a Current Ratio set at 12.50.

An analysis of insider ownership at Viridian Therapeutics Inc. [VRDN]

There are presently around $628 million, or 92.50% of VRDN stock, in the hands of institutional investors. The top three institutional holders of VRDN stocks are: VR ADVISER, LLC with ownership of 1,852,919, which is approximately 0% of the company’s market cap and around 1.70% of the total institutional ownership; BVF INC/IL, holding 1,744,012 shares of the stock with an approximate value of $38.37 million in VRDN stocks shares; and COMMODORE CAPITAL LP, currently with $36.05 million in VRDN stock with ownership of nearly 72.242% of the company’s market capitalization.

Positions in Viridian Therapeutics Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 55 institutional holders increased their position in Viridian Therapeutics Inc. [NASDAQ:VRDN] by around 7,181,979 shares. Additionally, 37 investors decreased positions by around 5,006,074 shares, while 13 investors held positions by with 16,360,401 shares. The mentioned changes placed institutional holdings at 28,548,454 shares, according to the latest SEC report filing. VRDN stock had 32 new institutional investments in for a total of 1,205,672 shares, while 19 institutional investors sold positions of 3,083,867 shares during the same period.

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