Viridian Therapeutics (NASDAQ:VRDN) Stock Rating Lowered by Wall Street Zen

Viridian Therapeutics (NASDAQ:VRDN) was downgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued on Saturday.

A number of other research firms have also commented on VRDN. Wedbush lifted their price objective on Viridian Therapeutics from $32.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 30th. Weiss Ratings downgraded shares of Viridian Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 30th. Needham & Company LLC restated a “buy” rating and set a $32.00 price target on shares of Viridian Therapeutics in a report on Monday, June 29th. Evercore set a $26.00 price target on shares of Viridian Therapeutics in a report on Friday, May 15th. Finally, Stifel Nicolaus set a $39.00 price target on shares of Viridian Therapeutics in a research report on Wednesday, May 13th. Thirteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $38.79.

Viridian Therapeutics Price Performance

Shares of NASDAQ:VRDN opened at $18.92 on Friday. The firm has a market cap of $1.95 billion, a P/E ratio of -5.70 and a beta of 0.91. The company has a quick ratio of 15.15, a current ratio of 15.15 and a debt-to-equity ratio of 0.10. Viridian Therapeutics has a 12-month low of $13.18 and a 12-month high of $34.29. The business has a fifty day simple moving average of $17.97 and a 200 day simple moving average of $21.99.

Viridian Therapeutics (NASDAQ:VRDN) last announced its earnings results on Tuesday, May 5th. The company reported ($0.90) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.16. The firm had revenue of $0.14 million for the quarter, compared to the consensus estimate of $0.04 million. Viridian Therapeutics had a negative return on equity of 80.19% and a negative net margin of 490.31%.The business’s quarterly revenue was up 95.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.87) EPS. Analysts predict that Viridian Therapeutics will post -3.87 earnings per share for the current year.

Insider Activity at Viridian Therapeutics

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc bought 1,176,470 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $17.00 per share, for a total transaction of $19,999,990.00. Following the transaction, the director directly owned 5,090,928 shares in the company, valued at approximately $86,545,776. This trade represents a 30.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Viridian Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. MetLife Investment Management LLC increased its position in Viridian Therapeutics by 0.8% in the 4th quarter. MetLife Investment Management LLC now owns 43,985 shares of the company’s stock valued at $1,369,000 after buying an additional 356 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Viridian Therapeutics by 0.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,360 shares of the company’s stock worth $4,337,000 after acquiring an additional 380 shares in the last quarter. US Bancorp DE boosted its holdings in Viridian Therapeutics by 23.2% in the third quarter. US Bancorp DE now owns 2,457 shares of the company’s stock worth $53,000 after acquiring an additional 463 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Viridian Therapeutics by 0.3% in the first quarter. Bank of New York Mellon Corp now owns 216,525 shares of the company’s stock valued at $4,235,000 after acquiring an additional 659 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Viridian Therapeutics by 1.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company’s stock valued at $669,000 after acquiring an additional 876 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.