Viridian Therapeutics (NASDAQ:VRDN) Cut to Strong Sell at Wall Street Zen

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

Several other research analysts also recently issued reports on VRDN. Wedbush upped their price objective on Viridian Therapeutics from $32.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, June 30th. Needham & Company LLC reiterated a “buy” rating and set a $32.00 target price on shares of Viridian Therapeutics in a research report on Monday, June 29th. Weiss Ratings lowered shares of Viridian Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 30th. Wells Fargo & Company upgraded shares of Viridian Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $20.00 to $31.00 in a research report on Monday, June 29th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $39.00 price target on shares of Viridian Therapeutics in a research note on Tuesday, June 30th. Thirteen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $38.79.

Viridian Therapeutics Trading Up 2.1%

Shares of VRDN stock opened at $19.31 on Friday. Viridian Therapeutics has a twelve month low of $13.18 and a twelve month high of $34.29. The stock’s fifty day simple moving average is $18.01 and its 200 day simple moving average is $21.91. The company has a quick ratio of 15.15, a current ratio of 15.15 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $1.99 billion, a P/E ratio of -5.82 and a beta of 0.91.

Viridian Therapeutics (NASDAQ:VRDN) last posted its 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. Viridian Therapeutics had a negative return on equity of 80.19% and a negative net margin of 490.31%.The firm had revenue of $0.14 million during the quarter, compared to the consensus estimate of $0.04 million. During the same period last year, the company earned ($0.87) earnings per share. The business’s quarterly revenue was up 95.8% on a year-over-year basis. As a group, sell-side analysts predict that Viridian Therapeutics will post -3.87 EPS for the current fiscal year.

Insider Buying and Selling at Viridian Therapeutics

In related news, Director Fairmount Funds Management Llc purchased 1,176,470 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was bought at an average price of $17.00 per share, with a total value of $19,999,990.00. Following the completion of the purchase, the director owned 5,090,928 shares in the company, valued at approximately $86,545,776. This represents a 30.05% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.40% of the company’s stock.

Institutional Trading of Viridian Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. KBC Group NV bought a new position in Viridian Therapeutics during the 1st quarter worth approximately $34,000. ANTIPODES PARTNERS Ltd bought a new stake in shares of Viridian Therapeutics in the 4th quarter valued at $36,000. Larson Financial Group LLC acquired a new stake in shares of Viridian Therapeutics during the third quarter worth $52,000. US Bancorp DE increased its position in shares of Viridian Therapeutics by 23.2% during the third quarter. US Bancorp DE now owns 2,457 shares of the company’s stock worth $53,000 after buying an additional 463 shares during the period. Finally, State of Wyoming bought a new position in Viridian Therapeutics during the first quarter worth $93,000.

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.