Viridian Therapeutics (NASDAQ:VRDN) Announces Earnings Results

Viridian Therapeutics (NASDAQ:VRDN) announced its earnings results on Thursday. The company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.18), FiscalAI reports. The company had revenue of $0.13 million for the quarter, compared to analysts’ expectations of $15.75 million. Viridian Therapeutics had a negative return on equity of 78.50% and a negative net margin of 426.58%.

Viridian Therapeutics Stock Up 1.9%

NASDAQ VRDN traded up $0.55 during trading on Thursday, reaching $29.49. 1,774,957 shares of the company’s stock were exchanged, compared to its average volume of 1,481,591. The company has a 50 day moving average price of $31.13 and a two-hundred day moving average price of $26.29. The stock has a market cap of $2.81 billion, a P/E ratio of -9.76 and a beta of 0.98. Viridian Therapeutics has a 1 year low of $9.90 and a 1 year high of $34.29. The company has a debt-to-equity ratio of 0.07, a quick ratio of 11.28 and a current ratio of 11.28.

Analysts Set New Price Targets

Several research firms recently weighed in on VRDN. Royal Bank Of Canada lifted their target price on shares of Viridian Therapeutics from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Wedbush raised their price target on Viridian Therapeutics from $42.00 to $47.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 10th. The Goldman Sachs Group reiterated a “buy” rating and issued a $40.00 price objective on shares of Viridian Therapeutics in a report on Thursday, November 6th. Wells Fargo & Company raised their target price on Viridian Therapeutics from $26.00 to $29.00 and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. Finally, Evercore reaffirmed an “outperform” rating and issued a $44.00 target price on shares of Viridian Therapeutics in a research report on Tuesday, January 20th. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $42.64.

Insider Activity at Viridian Therapeutics

In related news, insider Jennifer Tousignant sold 2,272 shares of Viridian Therapeutics stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $31.16, for a total transaction of $70,795.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.58% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in Viridian Therapeutics in the fourth quarter valued at $531,000. Invesco Ltd. raised its stake in Viridian Therapeutics by 127.1% during the fourth quarter. Invesco Ltd. now owns 183,468 shares of the company’s stock worth $5,710,000 after purchasing an additional 102,676 shares during the period. XTX Topco Ltd acquired a new position in Viridian Therapeutics in the fourth quarter valued at $1,464,000. Virtus Investment Advisers LLC grew its holdings in shares of Viridian Therapeutics by 13.4% during the 4th quarter. Virtus Investment Advisers LLC now owns 8,233 shares of the company’s stock worth $256,000 after purchasing an additional 971 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Viridian Therapeutics by 75.6% in the 4th quarter. Wellington Management Group LLP now owns 1,971,411 shares of the company’s stock valued at $61,350,000 after acquiring an additional 848,879 shares during the period.

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.