Viridian Therapeutics, Inc. (NASDAQ:VRDN) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have been given a consensus rating of “Moderate Buy” by the fourteen brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $36.1429.

Several equities research analysts recently weighed in on VRDN shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viridian Therapeutics in a research report on Monday, April 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 price objective on shares of Viridian Therapeutics in a research report on Tuesday, May 5th. Truist Financial cut their price objective on shares of Viridian Therapeutics from $36.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. HC Wainwright cut their price objective on shares of Viridian Therapeutics from $34.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday, March 31st. Finally, Wedbush cut their price objective on shares of Viridian Therapeutics from $37.00 to $31.00 and set an “outperform” rating for the company in a research report on Wednesday, April 8th.

Viridian Therapeutics Stock Down 3.7%

NASDAQ VRDN opened at $16.96 on Thursday. 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 1-year low of $13.18 and a 1-year high of $34.29. The company has a 50 day moving average of $17.52 and a 200-day moving average of $26.08. The company has a market cap of $1.75 billion, a price-to-earnings ratio of -5.11 and a beta of 0.90.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.90) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.16. Viridian Therapeutics had a negative net margin of 490.31% and a negative return on equity of 80.19%. The company had revenue of $0.14 million during the quarter, compared to the consensus estimate of $0.04 million. During the same period in the previous year, the business earned ($0.87) earnings per share. The firm’s quarterly revenue was up 95.8% on a year-over-year basis. On average, equities research analysts expect that Viridian Therapeutics will post -3.71 earnings per share for the current fiscal year.

Insider Activity at Viridian Therapeutics

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. KBC Group NV bought a new position in Viridian Therapeutics in the 1st quarter valued at approximately $34,000. Aster Capital Management DIFC Ltd bought a new position in Viridian Therapeutics in the 3rd quarter valued at approximately $35,000. ANTIPODES PARTNERS Ltd bought a new position in Viridian Therapeutics in the 4th quarter valued at approximately $36,000. Bessemer Group Inc. raised its holdings in Viridian Therapeutics by 947.7% in the 3rd quarter. Bessemer Group Inc. now owns 2,085 shares of the company’s stock valued at $45,000 after buying an additional 1,886 shares during the last quarter. Finally, Larson Financial Group LLC bought a new position in Viridian Therapeutics in the 3rd quarter valued at approximately $52,000.

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.