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

Wall Street Zen upgraded shares of Viridian Therapeutics (NASDAQ:VRDN) from a strong sell rating to a sell rating in a research report report published on Monday.

Other research analysts have also recently issued reports about the company. The Goldman Sachs Group reissued a “buy” rating and set a $39.00 target price on shares of Viridian Therapeutics in a research note on Tuesday, June 30th. HC Wainwright reduced their price target on Viridian Therapeutics from $34.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday, March 31st. Truist Financial lifted their price objective on Viridian Therapeutics from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Stifel Nicolaus set a $39.00 price objective on Viridian Therapeutics in a research report on Wednesday, May 13th. Finally, Royal Bank Of Canada boosted their price objective on Viridian Therapeutics from $34.00 to $35.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 30th. Thirteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $38.79.

Viridian Therapeutics Stock Performance

Shares of VRDN stock opened at $18.56 on Monday. The company has a quick ratio of 15.15, a current ratio of 15.15 and a debt-to-equity ratio of 0.10. Viridian Therapeutics has a 52 week low of $13.18 and a 52 week high of $34.29. The stock has a market capitalization of $1.91 billion, a PE ratio of -5.59 and a beta of 0.90. The firm has a 50 day moving average of $17.53 and a two-hundred day moving average of $22.73.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.90) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.16. The business had revenue of $0.14 million during the quarter, compared to the consensus estimate of $0.04 million. Viridian Therapeutics had a negative net margin of 490.31% and a negative return on equity of 80.19%. The company’s quarterly revenue was up 95.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.87) earnings per share. On average, research analysts predict that Viridian Therapeutics will post -3.87 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Fairmount Funds Management Llc acquired 1,176,470 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was bought at an average price of $17.00 per share, for a total transaction of $19,999,990.00. Following the completion of the purchase, the director directly owned 5,090,928 shares of the company’s stock, valued at approximately $86,545,776. The trade was a 30.05% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.40% of the stock is currently owned by company insiders.

Institutional Trading of Viridian Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in VRDN. Vanguard Group Inc. grew its stake in Viridian Therapeutics by 29.6% during the 4th quarter. Vanguard Group Inc. now owns 5,612,144 shares of the company’s stock worth $174,650,000 after buying an additional 1,280,161 shares during the last quarter. Commodore Capital LP lifted its stake in Viridian Therapeutics by 35.4% in the second quarter. Commodore Capital LP now owns 4,875,000 shares of the company’s stock valued at $68,152,000 after buying an additional 1,275,000 shares during the last quarter. State Street Corp lifted its stake in Viridian Therapeutics by 35.7% in the fourth quarter. State Street Corp now owns 3,466,560 shares of the company’s stock valued at $107,879,000 after buying an additional 912,394 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Viridian Therapeutics by 42.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,439,414 shares of the company’s stock valued at $107,036,000 after buying an additional 1,021,310 shares during the last quarter. Finally, Perceptive Advisors LLC boosted its holdings in shares of Viridian Therapeutics by 108.1% in the fourth quarter. Perceptive Advisors LLC now owns 3,042,703 shares of the company’s stock valued at $94,689,000 after acquiring an additional 1,580,303 shares during the period.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc (NASDAQ: VRDN) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted antibody therapeutics for patients suffering from rare and serious diseases. The company’s lead program, VRDN-001, is a fully human monoclonal antibody that antagonizes the insulin-like growth factor-1 receptor (IGF-1R), with an initial focus on thyroid eye disease (TED). By selectively inhibiting IGF-1R signaling, VRDN-001 aims to reduce inflammation and tissue remodeling associated with TED and related disorders.

In addition to VRDN-001, Viridian is advancing a second antibody program, VRDN-002, which targets complement-mediated pathways implicated in autoimmune and inflammatory diseases.