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

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

A number of other analysts have also recently commented on VRDN. Stifel Nicolaus set a $39.00 price target on shares of Viridian Therapeutics in a research note on Wednesday, May 13th. Truist Financial decreased their price target on shares of Viridian Therapeutics from $36.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. Wedbush reduced their target price on shares of Viridian Therapeutics from $37.00 to $31.00 and set an “outperform” rating on the stock in a report on Wednesday, April 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viridian Therapeutics in a report on Monday, April 20th. Finally, Needham & Company LLC reissued a “buy” rating and set a $32.00 price target on shares of Viridian Therapeutics in a research report on Tuesday, May 5th. Twelve investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.14.

Viridian Therapeutics Trading Up 1.3%

Shares of VRDN stock opened at $16.35 on Friday. Viridian Therapeutics has a 52-week low of $13.18 and a 52-week high of $34.29. 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 company has a 50-day simple moving average of $15.96 and a two-hundred day simple moving average of $25.29. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of -4.92 and a beta of 0.90.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.90) earnings per share (EPS) for the quarter, topping 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 business had revenue of $0.14 million during the quarter, compared to the consensus estimate of $0.04 million. During the same period in the prior year, the firm posted ($0.87) EPS. The firm’s quarterly revenue was up 95.8% compared to the same quarter last year. Research analysts anticipate that Viridian Therapeutics will post -3.87 EPS for the current fiscal year.

Insider Transactions at Viridian Therapeutics

In other news, Director Fairmount Funds Management Llc bought 1,176,470 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was acquired at an average cost 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 approximately $86,545,776. This represents a 30.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.40% of the company’s stock.

Institutional Trading of Viridian Therapeutics

Large investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its holdings in shares of Viridian Therapeutics by 17.5% in the first quarter. Bank of America Corp DE now owns 1,163,615 shares of the company’s stock worth $22,760,000 after buying an additional 173,498 shares during the last quarter. ADAR1 Capital Management LLC boosted its position 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 worth $5,954,000 after purchasing an additional 227,224 shares during the period. California State Teachers Retirement System lifted its holdings in shares of Viridian Therapeutics by 28.0% in the first quarter. California State Teachers Retirement System now owns 81,021 shares of the company’s stock worth $1,585,000 after buying an additional 17,724 shares in the last quarter. Rice Hall James & Associates LLC lifted its holdings in shares of Viridian Therapeutics by 1.6% in the first quarter. Rice Hall James & Associates LLC now owns 898,611 shares of the company’s stock worth $17,577,000 after buying an additional 14,079 shares in the last quarter. Finally, Entropy Technologies LP purchased a new position in shares of Viridian Therapeutics in the first quarter worth $224,000.

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.