Viridian Therapeutics (NASDAQ:VRDN) Announces Earnings Results, Misses Expectations By $0.02 EPS

Viridian Therapeutics (NASDAQ:VRDN) issued its earnings results on Thursday. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.02), Zacks reports. The firm had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.06 million. Viridian Therapeutics had a negative return on equity of 80.19% and a negative net margin of 490.31%.

Viridian Therapeutics Trading Up 4.8%

VRDN stock traded up $1.08 during trading on Friday, hitting $23.59. The company had a trading volume of 1,659,799 shares, compared to its average volume of 2,224,293. The stock has a market cap of $2.43 billion, a PE ratio of -7.11 and a beta of 0.91. The business has a 50-day moving average of $18.26 and a 200-day moving average of $21.65. The company has a current ratio of 15.15, a quick ratio of 15.15 and a debt-to-equity ratio of 0.10. Viridian Therapeutics has a one year low of $13.18 and a one year high of $34.29.

Insider Transactions at Viridian Therapeutics

In other news, Director Fairmount Funds Management Llc purchased 1,176,470 shares of the stock in a transaction on Monday, May 11th. The stock was purchased at an average price of $17.00 per share, for a total transaction of $19,999,990.00. Following the acquisition, the director owned 5,090,928 shares in the company, valued at $86,545,776. This trade represents a 30.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Viridian Therapeutics

Several large investors have recently modified their holdings of the company. MetLife Investment Management LLC raised its position in Viridian Therapeutics by 0.8% in the 4th quarter. MetLife Investment Management LLC now owns 43,985 shares of the company’s stock valued at $1,369,000 after buying an additional 356 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Viridian Therapeutics by 0.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,360 shares of the company’s stock worth $4,337,000 after acquiring an additional 380 shares during the last quarter. US Bancorp DE boosted its holdings in Viridian Therapeutics by 23.2% during the 3rd quarter. US Bancorp DE now owns 2,457 shares of the company’s stock worth $53,000 after acquiring an additional 463 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Viridian Therapeutics by 1.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company’s stock worth $669,000 after acquiring an additional 876 shares in the last quarter. Finally, Virtus Investment Advisers LLC grew its stake in shares of Viridian Therapeutics by 13.4% in the 4th quarter. Virtus Investment Advisers LLC now owns 8,233 shares of the company’s stock worth $256,000 after acquiring an additional 971 shares in the last quarter.

Analyst Ratings Changes

VRDN has been the topic of a number of recent research reports. Wall Street Zen lowered Viridian Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Wells Fargo & Company raised Viridian Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $20.00 to $31.00 in a research note on Monday, June 29th. Wedbush raised their price objective on shares of Viridian Therapeutics from $32.00 to $43.00 and gave the company an “outperform” rating in a report on Tuesday, June 30th. The Goldman Sachs Group reiterated a “buy” rating and set a $39.00 target price on shares of Viridian Therapeutics in a research report on Tuesday, June 30th. Finally, Stifel Nicolaus set a $39.00 target price on shares of Viridian Therapeutics in a report on Wednesday, May 13th. Thirteen investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Viridian Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.93.

About Viridian Therapeutics

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.