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

Wall Street Zen downgraded shares of Viridian Therapeutics (NASDAQ:VRDN) from a hold rating to a sell rating in a report published on Saturday morning.

A number of other equities analysts also recently issued reports on VRDN. Weiss Ratings reissued a “sell (d-)” rating on shares of Viridian Therapeutics in a report on Wednesday, January 21st. UBS Group started coverage on shares of Viridian Therapeutics in a report on Wednesday, January 7th. They set a “buy” rating and a $50.00 target price for the company. William Blair assumed coverage on shares of Viridian Therapeutics in a research report on Wednesday, December 3rd. They issued an “outperform” rating on the stock. Royal Bank Of Canada cut their price objective on shares of Viridian Therapeutics from $45.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. Finally, Truist Financial reduced their price objective on Viridian Therapeutics from $41.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Thirteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Viridian Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $42.43.

Viridian Therapeutics Stock Up 4.6%

Viridian Therapeutics stock opened at $29.65 on Friday. The stock has a market cap of $3.03 billion, a PE ratio of -9.01 and a beta of 1.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 12.65 and a current ratio of 12.65. Viridian Therapeutics has a one year low of $9.90 and a one year high of $34.29. The stock has a fifty day moving average of $30.69 and a 200 day moving average of $26.99.

Viridian Therapeutics (NASDAQ:VRDN) last announced its earnings results on Thursday, February 26th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by ($0.18). The firm had revenue of $0.13 million during the quarter, compared to analysts’ expectations of $15.75 million. Viridian Therapeutics had a negative return on equity of 83.25% and a negative net margin of 483.57%. As a group, sell-side analysts predict that Viridian Therapeutics will post -4.03 EPS for the current year.

Insider Buying and Selling

In other Viridian Therapeutics news, insider Jennifer Tousignant sold 2,272 shares of Viridian Therapeutics stock in a transaction that occurred on 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 filing with the SEC, which is accessible through this link. Insiders own 0.65% of the company’s stock.

Institutional Trading of Viridian Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Aster Capital Management DIFC Ltd purchased a new position in shares of Viridian Therapeutics during the 3rd quarter valued at $35,000. ANTIPODES PARTNERS Ltd bought a new stake in Viridian Therapeutics during the fourth quarter valued at about $36,000. Farther Finance Advisors LLC raised its holdings in Viridian Therapeutics by 332.1% during the third quarter. Farther Finance Advisors LLC now owns 1,940 shares of the company’s stock valued at $42,000 after acquiring an additional 1,491 shares during the period. Bessemer Group Inc. lifted its position in shares of Viridian Therapeutics by 947.7% in the third quarter. Bessemer Group Inc. now owns 2,085 shares of the company’s stock valued at $45,000 after acquiring an additional 1,886 shares in the last quarter. Finally, Larson Financial Group LLC purchased a new position in shares of Viridian Therapeutics in the third quarter valued at about $52,000.

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.