Viridian Therapeutics, Inc. (NASDAQ:VRDN) Given Average Rating of “Moderate Buy” by Brokerages

Viridian Therapeutics, Inc. (NASDAQ:VRDN) has been given an average recommendation of “Moderate Buy” by the fifteen research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $42.6429.

VRDN has been the topic of several research analyst reports. UBS Group initiated coverage on Viridian Therapeutics in a report on Wednesday, January 7th. They issued a “buy” rating and a $50.00 price objective on the stock. Wall Street Zen raised shares of Viridian Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. William Blair started coverage on shares of Viridian Therapeutics in a research report on Wednesday, December 3rd. They issued an “outperform” rating for the company. Oppenheimer boosted their price target on shares of Viridian Therapeutics from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $42.00 price objective on shares of Viridian Therapeutics in a report on Wednesday, February 4th.

Viridian Therapeutics Price Performance

Shares of VRDN opened at $27.90 on Tuesday. The business’s 50-day moving average is $31.71 and its two-hundred day moving average is $25.80. The company has a market capitalization of $2.66 billion, a P/E ratio of -9.24 and a beta of 0.98. Viridian Therapeutics has a fifty-two week low of $9.90 and a fifty-two week 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.

Insider Buying and Selling

In other Viridian Therapeutics news, insider Jennifer Tousignant sold 2,272 shares of Viridian Therapeutics stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Viridian Therapeutics

A number of large investors have recently modified their holdings of the company. Morgan Stanley grew its position in shares of Viridian Therapeutics by 805.6% during the fourth quarter. Morgan Stanley now owns 1,738,225 shares of the company’s stock worth $54,094,000 after acquiring an additional 1,546,284 shares during the last quarter. Vanguard Group Inc. increased its stake in Viridian Therapeutics by 29.6% in the 4th quarter. Vanguard Group Inc. now owns 5,612,144 shares of the company’s stock valued at $174,650,000 after purchasing an additional 1,280,161 shares in the last quarter. Commodore Capital LP increased its stake in shares of Viridian Therapeutics by 35.4% during the 2nd quarter. Commodore Capital LP now owns 4,875,000 shares of the company’s stock worth $68,152,000 after purchasing an additional 1,275,000 shares in the last quarter. Jennison Associates LLC acquired a new position in Viridian Therapeutics in the 4th quarter valued at about $35,915,000. Finally, State Street Corp raised its holdings in Viridian Therapeutics by 35.7% in the 4th quarter. State Street Corp now owns 3,466,560 shares of the company’s stock valued at $107,879,000 after acquiring an additional 912,394 shares during the last quarter.

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.