Viridian Therapeutics (NASDAQ:VRDN) Stock Lifted to “Sell” by Wall Street Zen

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

Other equities research analysts also recently issued research reports about the stock. 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. Wells Fargo & Company upgraded Viridian Therapeutics from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $20.00 to $31.00 in a research note on Monday, June 29th. Wedbush lifted their target price on Viridian Therapeutics from $32.00 to $43.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 30th. Needham & Company LLC reiterated a “buy” rating and issued a $32.00 price target on shares of Viridian Therapeutics in a research note on Monday, June 29th. Finally, Truist Financial raised their price objective on Viridian Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Twelve research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Viridian Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $38.69.

Viridian Therapeutics Trading Down 0.9%

VRDN opened at $20.47 on Friday. The firm has a market capitalization of $2.32 billion, a P/E ratio of -6.07 and a beta of 0.97. The firm’s 50 day moving average is $21.95 and its 200-day moving average is $19.81. Viridian Therapeutics has a 52-week low of $13.18 and a 52-week high of $34.29. The company has a quick ratio of 16.95, a current ratio of 16.95 and a debt-to-equity ratio of 0.43.

Viridian Therapeutics (NASDAQ:VRDN) last posted its earnings results on Thursday, August 6th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.02). The firm had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.06 million. Viridian Therapeutics had a negative return on equity of 72.97% and a negative net margin of 505.86%. Analysts expect that Viridian Therapeutics will post -4.07 EPS for the current fiscal year.

Insider Activity at Viridian Therapeutics

In other news, insider Jennifer Tousignant sold 14,212 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $24.50, for a total transaction of $348,194.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.40% of the company’s stock.

Institutional Trading of Viridian Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC bought a new position in Viridian Therapeutics during the 2nd quarter worth approximately $33,000. KBC Group NV bought a new stake in shares of Viridian Therapeutics in the 1st quarter valued at approximately $34,000. State of Wyoming bought a new stake in shares of Viridian Therapeutics in the 2nd quarter valued at approximately $43,000. Man Group plc acquired a new stake in shares of Viridian Therapeutics during the 2nd quarter valued at approximately $197,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Viridian Therapeutics during the 2nd quarter valued at approximately $204,000.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious diseases involving the immune system. The company’s primary focus is thyroid eye disease (TED), an autoimmune disorder that can cause inflammation, pain, swelling and vision-related complications.

Viridian’s lead programs target the insulin-like growth factor 1 receptor (IGF-1R), a pathway associated with TED. Its pipeline has included investigational therapies such as veligrotug (VRDN-001), an intravenous antibody designed to block IGF-1R, and subcutaneous formulations intended to provide more convenient administration.