Viridian Therapeutics (NASDAQ:VRDN) Lowered to Strong Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Viridian Therapeutics (NASDAQ:VRDN) from a sell rating to a strong sell rating in a report released on Saturday morning.

VRDN has been the subject of several other reports. Stifel Nicolaus set a $39.00 price objective on Viridian Therapeutics in a report on Wednesday, May 13th. Needham & Company LLC restated a “buy” rating and issued a $32.00 target price on shares of Viridian Therapeutics in a research note on Monday, June 29th. Truist Financial upped their price target on Viridian Therapeutics from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. Wedbush increased their price target on Viridian Therapeutics from $32.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 30th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $39.00 price objective on shares of Viridian Therapeutics in a report on Tuesday, June 30th. Thirteen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.79.

Viridian Therapeutics Stock Down 4.9%

VRDN opened at $18.92 on Friday. Viridian Therapeutics has a twelve month low of $13.18 and a twelve month high of $34.29. The company’s 50-day moving average price is $17.97 and its two-hundred day moving average price is $22.07. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -5.70 and a beta of 0.90. 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 (NASDAQ:VRDN) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.90) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.06) by $0.16. The company had revenue of $0.14 million during the quarter, compared to analyst estimates of $0.04 million. Viridian Therapeutics had a negative net margin of 490.31% and a negative return on equity of 80.19%. Viridian Therapeutics’s quarterly revenue was up 95.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.87) EPS. As a group, equities analysts expect that Viridian Therapeutics will post -3.87 earnings per share for the current year.

Insider Buying and Selling

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc acquired 1,176,470 shares of Viridian Therapeutics stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $19,999,990.00. Following the purchase, the director owned 5,090,928 shares of the company’s stock, valued at approximately $86,545,776. This represents a 30.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Viridian Therapeutics

Several hedge funds have recently made changes to their positions in VRDN. Doliver Advisors LP bought a new stake in shares of Viridian Therapeutics during the 2nd quarter valued at $551,000. Handelsbanken Fonder AB bought a new position in Viridian Therapeutics in the 2nd quarter worth about $834,000. Hennion & Walsh Asset Management Inc. grew its holdings in Viridian Therapeutics by 19.6% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 209,092 shares of the company’s stock valued at $3,841,000 after buying an additional 34,198 shares in the last quarter. Bank of America Corp DE grew its holdings in Viridian Therapeutics by 17.5% during the 1st quarter. Bank of America Corp DE now owns 1,163,615 shares of the company’s stock valued at $22,760,000 after buying an additional 173,498 shares in the last quarter. Finally, ADAR1 Capital Management LLC increased its position in shares of Viridian Therapeutics by 294.3% during the first quarter. ADAR1 Capital Management LLC now owns 304,422 shares of the company’s stock valued at $5,954,000 after buying an additional 227,224 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.