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

Viridian Therapeutics (NASDAQ:VRDN) was upgraded by stock analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued on Monday.

A number of other equities research analysts have also recently issued reports on the company. Evercore set a $26.00 price objective on Viridian Therapeutics in a research note on Friday, May 15th. Weiss Ratings cut shares of Viridian Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 30th. Wells Fargo & Company upgraded shares of Viridian Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $20.00 to $31.00 in a report on Monday, June 29th. HC Wainwright dropped their price target on shares of Viridian Therapeutics from $34.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday, March 31st. Finally, Wedbush increased their price target on shares of Viridian Therapeutics from $32.00 to $43.00 and gave the company an “outperform” rating in a research note 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.79.

Viridian Therapeutics Stock Performance

VRDN opened at $18.03 on Monday. Viridian Therapeutics has a 52-week low of $13.18 and a 52-week high of $34.29. The firm has a market capitalization of $1.86 billion, a PE ratio of -5.43 and a beta of 0.90. The company has a debt-to-equity ratio of 0.10, a quick ratio of 15.15 and a current ratio of 15.15. The business’s 50-day simple moving average is $17.50 and its 200 day simple moving average is $22.82.

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

Insider Transactions at Viridian Therapeutics

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc acquired 1,176,470 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of $17.00 per share, with a total value of $19,999,990.00. Following the completion of the transaction, the director directly owned 5,090,928 shares in the company, valued at approximately $86,545,776. This represents a 30.05% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

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.