Viridian Therapeutics (NASDAQ:VRDN) Upgraded at 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 Monday morning.

VRDN has been the topic of several other research reports. Wells Fargo & Company raised shares of Viridian Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $20.00 to $31.00 in a research report on Monday, June 29th. Stifel Nicolaus set a $39.00 target price on Viridian Therapeutics in a research note on Wednesday, May 13th. Truist Financial raised their target price on Viridian Therapeutics from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. The Goldman Sachs Group restated a “buy” rating and issued a $39.00 target price on shares of Viridian Therapeutics in a research report on Tuesday, June 30th. Finally, Weiss Ratings lowered Viridian Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 30th. Thirteen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.79.

Viridian Therapeutics Price Performance

Viridian Therapeutics stock opened at $19.17 on Monday. The company has a current ratio of 15.15, a quick ratio of 15.15 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average price of $17.62 and a 200 day moving average price of $22.56. Viridian Therapeutics has a 12-month low of $13.18 and a 12-month high of $34.29. The stock has a market cap of $1.98 billion, a P/E ratio of -5.77 and a beta of 0.90.

Viridian Therapeutics (NASDAQ:VRDN) last posted its earnings results on Tuesday, May 5th. The company reported ($0.90) earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $0.04 million. During the same period in the previous year, the business posted ($0.87) EPS. Viridian Therapeutics’s revenue was up 95.8% on a year-over-year basis. Sell-side analysts anticipate that Viridian Therapeutics will post -3.87 earnings per share for the current year.

Insider Transactions at Viridian Therapeutics

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc purchased 1,176,470 shares of Viridian Therapeutics stock in a transaction dated Monday, May 11th. The shares were acquired at an average price of $17.00 per share, with a total value of $19,999,990.00. Following the completion of the transaction, the director owned 5,090,928 shares of the company’s stock, valued at $86,545,776. This trade represents a 30.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in VRDN. Vanguard Group Inc. lifted its holdings in Viridian Therapeutics by 29.6% during the 4th quarter. Vanguard Group Inc. now owns 5,612,144 shares of the company’s stock worth $174,650,000 after buying an additional 1,280,161 shares in the last quarter. Commodore Capital LP grew its stake in shares of Viridian Therapeutics by 35.4% in the second quarter. Commodore Capital LP now owns 4,875,000 shares of the company’s stock worth $68,152,000 after acquiring an additional 1,275,000 shares in the last quarter. State Street Corp grew its stake in shares of Viridian Therapeutics by 35.7% in the fourth quarter. State Street Corp now owns 3,466,560 shares of the company’s stock worth $107,879,000 after acquiring an additional 912,394 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Viridian Therapeutics by 42.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,439,414 shares of the company’s stock worth $107,036,000 after acquiring an additional 1,021,310 shares during the period. Finally, Perceptive Advisors LLC increased its position in shares of Viridian Therapeutics by 108.1% during the fourth quarter. Perceptive Advisors LLC now owns 3,042,703 shares of the company’s stock worth $94,689,000 after acquiring an additional 1,580,303 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.