Royal Bank Of Canada Has Lowered Expectations for Viridian Therapeutics (NASDAQ:VRDN) Stock Price

Viridian Therapeutics (NASDAQ:VRDN) had its price objective cut by Royal Bank Of Canada from $45.00 to $42.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 47.25% from the stock’s current price.

A number of other equities analysts also recently commented on VRDN. Wall Street Zen upgraded shares of Viridian Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Wells Fargo & Company upped their price objective on Viridian Therapeutics from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 3rd. BTIG Research reiterated a “buy” rating and issued a $61.00 price objective on shares of Viridian Therapeutics in a report on Tuesday, November 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Viridian Therapeutics in a research note on Wednesday, January 21st. Finally, Evercore reaffirmed an “outperform” rating and issued a $44.00 price target on shares of Viridian Therapeutics in a report on Tuesday, January 20th. Thirteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Viridian Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $42.43.

Viridian Therapeutics Stock Down 3.3%

Shares of Viridian Therapeutics stock traded down $0.97 on Friday, reaching $28.52. 567,817 shares of the company were exchanged, compared to its average volume of 1,457,425. Viridian Therapeutics has a 1-year low of $9.90 and a 1-year high of $34.29. The company has a market cap of $2.72 billion, a P/E ratio of -9.44 and a beta of 0.98. The company has a debt-to-equity ratio of 0.07, a current ratio of 11.28 and a quick ratio of 11.28. The stock’s 50 day moving average price is $31.08 and its 200-day moving average price is $26.32.

Viridian Therapeutics (NASDAQ:VRDN) last issued its earnings results on Thursday, February 26th. The company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($0.90) by ($0.18). Viridian Therapeutics had a negative net margin of 426.58% and a negative return on equity of 78.50%. The firm had revenue of $0.13 million during the quarter, compared to analyst estimates of $15.75 million. As a group, equities analysts forecast that Viridian Therapeutics will post -4.03 EPS for the current year.

Insider Activity at Viridian Therapeutics

In other 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 value of $70,795.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.58% of the stock is owned by insiders.

Institutional Investors Weigh In On Viridian Therapeutics

Several large investors have recently modified their holdings of VRDN. Seven Fleet Capital Management LP acquired a new stake in Viridian Therapeutics in the fourth quarter valued at $456,000. Virtu Financial LLC acquired a new position in shares of Viridian Therapeutics during the 4th quarter valued at $531,000. Invesco Ltd. boosted its position in Viridian Therapeutics by 127.1% in the 4th quarter. Invesco Ltd. now owns 183,468 shares of the company’s stock valued at $5,710,000 after buying an additional 102,676 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Viridian Therapeutics in the 4th quarter worth about $1,464,000. Finally, Virtus Investment Advisers LLC boosted its holdings in Viridian Therapeutics by 13.4% in the fourth 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.

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.