Viridian Therapeutics, Inc. (NASDAQ:VRDN) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Viridian Therapeutics, with 12 buy ratings and one sell rating among 13 analysts. The average 12-month price target is $38.54, well above the stock’s recent $22.92 price.
• Viridian reported a quarterly loss of $1.05 per share, slightly worse than the $1.03 consensus estimate, while revenue of $0.28 million exceeded expectations. Analysts expect a full-year loss of approximately $4.07 per share.
• An insider sold 14,212 shares for about $348,000, while several institutional investors—including Goldman Sachs and UBS— increased their positions. The stock trades between a 52-week range of $13.18 and $34.29.

Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report) has received an average rating of "Moderate Buy" from the thirteen research firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating and twelve have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $38.5385.

VRDN has been the topic of a number of analyst reports. Royal Bank Of Canada lifted their price objective on Viridian Therapeutics from $35.00 to $36.00 and gave the company an "outperform" rating in a report on Friday, August 7th. Wall Street Zen downgraded Viridian Therapeutics from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 1st. Evercore set a $26.00 price target on Viridian Therapeutics in a report on Friday, May 15th. Truist Financial lifted their price target on Viridian Therapeutics from $38.00 to $39.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Finally, Weiss Ratings lowered Viridian Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, June 30th.

Insider Activity at Viridian Therapeutics

In other news, insider Jennifer Tousignant sold 14,212 shares of the company's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $24.50, for a total transaction of $348,194.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.40% of the company's stock.

Institutional Trading of Viridian Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Viridian Therapeutics by 1.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company's stock worth $669,000 after buying an additional 876 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Viridian Therapeutics by 33.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,231,092 shares of the company's stock valued at $16,595,000 after acquiring an additional 310,998 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Viridian Therapeutics by 12.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 130,570 shares of the company's stock worth $1,760,000 after acquiring an additional 14,788 shares in the last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of Viridian Therapeutics during the 2nd quarter worth approximately $187,000. Finally, Creative Planning acquired a new stake in shares of Viridian Therapeutics in the 2nd quarter worth approximately $179,000.

Viridian Therapeutics Stock Down 0.2%

VRDN stock opened at $22.92 on Friday. The stock has a market capitalization of $2.60 billion, a PE ratio of -6.80 and a beta of 0.97. The company has a fifty day moving average of $21.11 and a 200-day moving average of $20.53. The company has a debt-to-equity ratio of 0.43, a quick ratio of 16.95 and a current ratio of 16.95. Viridian Therapeutics has a one year low of $13.18 and a one year high of $34.29.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.02). The firm had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.06 million. Viridian Therapeutics had a negative return on equity of 72.97% and a negative net margin of 505.86%. As a group, analysts expect that Viridian Therapeutics will post -4.07 EPS for the current year.

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.

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