Viridian Therapeutics (NASDAQ:VRDN) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Viridian Therapeutics (NASDAQ:VRDN) from a sell rating to a hold rating in a research note released on Saturday morning.

Several other equities research analysts have also recently commented on the company. Jefferies Financial Group started coverage on Viridian Therapeutics in a research report on Monday, August 25th. They set a “buy” rating and a $44.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viridian Therapeutics in a report on Wednesday, October 8th. The Goldman Sachs Group reiterated a “buy” rating and issued a $40.00 price target on shares of Viridian Therapeutics in a research note on Thursday. Needham & Company LLC decreased their price objective on shares of Viridian Therapeutics from $36.00 to $34.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Finally, Royal Bank Of Canada increased their price objective on shares of Viridian Therapeutics from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.78.

Viridian Therapeutics Stock Down 0.2%

NASDAQ VRDN traded down $0.06 during mid-day trading on Friday, reaching $27.44. The stock had a trading volume of 1,168,932 shares, compared to its average volume of 965,450. Viridian Therapeutics has a 1 year low of $9.90 and a 1 year high of $28.60. The stock has a market cap of $2.24 billion, a PE ratio of -7.16 and a beta of 0.72. The company has a fifty day moving average price of $21.30 and a 200 day moving average price of $17.54. The company has a debt-to-equity ratio of 0.04, a current ratio of 11.01 and a quick ratio of 11.01.

Viridian Therapeutics (NASDAQ:VRDN) last issued its earnings results on Wednesday, November 5th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.82) by $0.48. The business had revenue of $0.07 million for the quarter, compared to the consensus estimate of $16.21 million. Viridian Therapeutics had a negative return on equity of 78.95% and a negative net margin of 112,806.88%.Viridian Therapeutics’s quarterly revenue was up 81993.0% on a year-over-year basis. On average, research analysts expect that Viridian Therapeutics will post -4.03 earnings per share for the current year.

Insider Activity

In related news, Director Fairmount Funds Management Llc acquired 454,545 shares of Viridian Therapeutics stock in a transaction dated Thursday, October 23rd. The stock was purchased at an average cost of $22.00 per share, for a total transaction of $9,999,990.00. Following the purchase, the director directly owned 3,914,458 shares of the company’s stock, valued at approximately $86,118,076. This trade represents a 13.14% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 1.58% of the stock is currently owned by insiders.

Institutional Trading of Viridian Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of VRDN. Bessemer Group Inc. raised its stake in shares of Viridian Therapeutics by 947.7% in the third quarter. Bessemer Group Inc. now owns 2,085 shares of the company’s stock worth $45,000 after buying an additional 1,886 shares during the period. Principal Financial Group Inc. increased its holdings in Viridian Therapeutics by 4.7% in the 3rd quarter. Principal Financial Group Inc. now owns 213,329 shares of the company’s stock worth $4,604,000 after acquiring an additional 9,493 shares in the last quarter. AlphaQuest LLC raised its stake in Viridian Therapeutics by 1,695.0% during the 3rd quarter. AlphaQuest LLC now owns 17,645 shares of the company’s stock worth $381,000 after acquiring an additional 16,662 shares during the period. Knights of Columbus Asset Advisors LLC raised its stake in Viridian Therapeutics by 2.4% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 59,410 shares of the company’s stock worth $1,282,000 after acquiring an additional 1,386 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its holdings in Viridian Therapeutics by 430.3% during the third quarter. Y Intercept Hong Kong Ltd now owns 64,594 shares of the company’s stock valued at $1,394,000 after purchasing an additional 52,414 shares in the last quarter.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc, a biotechnology company, discover and develops treatments for serious and rare diseases. The company's product pipeline includes VRDN-001, a monoclonal antibody targeting insulin-like growth factor-1 receptor that is in Phase 3 clinical trial for the treatment of thyroid eye disease (TED); and VRDN-003, a next generation IGF-1R humanized monoclonal antibodies targeting IGF-1R and incorporating half-life extension technology for the treatment of TED.