Stock Analysis

Scott Myers Is The President of Viridian Therapeutics, Inc. (NASDAQ:VRDN) And Just Spent US$160k On Shares

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Investors who take an interest in Viridian Therapeutics, Inc. (NASDAQ:VRDN) should definitely note that the President, Scott Myers, recently paid US$29.15 per share to buy US$160k worth of the stock. However, it only increased shareholding by a small percentage, and it wasn't a huge purchase by absolute value, either.

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The Last 12 Months Of Insider Transactions At Viridian Therapeutics

Notably, that recent purchase by Scott Myers is the biggest insider purchase of Viridian Therapeutics shares that we've seen in the last year. That means that even when the share price was higher than US$28.53 (the recent price), an insider wanted to purchase shares. Their view may have changed since then, but at least it shows they felt optimistic at the time. To us, it's very important to consider the price insiders pay for shares. Generally speaking, it catches our eye when an insider has purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price. Scott Myers was the only individual insider to buy shares in the last twelve months.

You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. By clicking on the graph below, you can see the precise details of each insider transaction!

NasdaqCM:VRDN Insider Trading Volume March 15th 2023

Viridian Therapeutics is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.

Insider Ownership Of Viridian Therapeutics

Many investors like to check how much of a company is owned by insiders. We usually like to see fairly high levels of insider ownership. It appears that Viridian Therapeutics insiders own 1.1% of the company, worth about US$14m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.

So What Does This Data Suggest About Viridian Therapeutics Insiders?

It's certainly positive to see the recent insider purchase. And the longer term insider transactions also give us confidence. However, we note that the company didn't make a profit over the last twelve months, which makes us cautious. Given that insiders also own a fair bit of Viridian Therapeutics we think they are probably pretty confident of a bright future. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Viridian Therapeutics. For instance, we've identified 3 warning signs for Viridian Therapeutics (1 is a bit concerning) you should be aware of.

If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.

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