Viridian Therapeutics (NASDAQ:VRDN) Price Target Lowered to $32.00 at Needham & Company LLC

Viridian Therapeutics (NASDAQ:VRDN) had its target price dropped by equities researchers at Needham & Company LLC from $42.00 to $32.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 72.86% from the stock’s previous close.

A number of other research firms have also recently issued reports on VRDN. Truist Financial decreased their target price 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. William Blair started coverage on shares of Viridian Therapeutics in a research note on Wednesday, December 3rd. They issued an “outperform” rating on the stock. Wall Street Zen lowered shares of Viridian Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Evercore reaffirmed an “outperform” rating and issued a $44.00 target price on shares of Viridian Therapeutics in a research note on Tuesday, January 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viridian Therapeutics in a research report on Wednesday, January 21st. Thirteen investment 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $41.50.

Viridian Therapeutics Trading Down 32.4%

Shares of NASDAQ:VRDN traded down $8.88 during midday trading on Monday, hitting $18.51. The company had a trading volume of 9,854,565 shares, compared to its average volume of 1,572,499. The company has a current ratio of 12.65, a quick ratio of 12.65 and a debt-to-equity ratio of 0.08. Viridian Therapeutics has a 12 month low of $9.90 and a 12 month high of $34.29. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -5.63 and a beta of 1.00. The firm has a fifty day simple moving average of $29.72 and a 200 day simple moving average of $27.89.

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

Insider Activity at Viridian Therapeutics

In related news, insider Jennifer Tousignant sold 2,272 shares of the firm’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.58% of the company’s stock.

Hedge Funds Weigh In On Viridian Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd bought a new position in shares of Viridian Therapeutics in the 3rd quarter valued at $35,000. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Viridian Therapeutics in the 4th quarter valued at approximately $36,000. Farther Finance Advisors LLC grew its holdings in shares of Viridian Therapeutics by 332.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,940 shares of the company’s stock valued at $42,000 after purchasing an additional 1,491 shares during the last quarter. Bessemer Group Inc. boosted its position in 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 buying an additional 1,886 shares in the last quarter. Finally, Larson Financial Group LLC bought a new stake in shares of Viridian Therapeutics during the third quarter worth $52,000.

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.