Viridian Therapeutics, Inc. (NASDAQ:VRDN) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Viridian Therapeutics, Inc. has an average rating of "Moderate Buy" from analysts, with one hold and eight buy ratings; the average 1-year price objective is $37.00.
• Recent hedge fund activity shows that several institutional investors, including Amalgamated Bank and MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd., have increased their positions in the company.
• As of the latest trading session, shares of Viridian Therapeutics are down 1.6%, with a current price of $17.52 and a market capitalization of $1.43 billion.

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report) have earned an average rating of "Moderate Buy" from the nine ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $37.00.

Several analysts have commented on the stock. HC Wainwright reiterated a "buy" rating and set a $34.00 target price on shares of Viridian Therapeutics in a research report on Wednesday, April 23rd. Needham & Company LLC reiterated a "buy" rating and set a $36.00 target price on shares of Viridian Therapeutics in a research report on Tuesday, May 20th. The Goldman Sachs Group dropped their target price on shares of Viridian Therapeutics from $31.00 to $27.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Royal Bank Of Canada dropped their target price on shares of Viridian Therapeutics from $46.00 to $45.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Finally, JMP Securities reduced their price target on shares of Viridian Therapeutics from $42.00 to $38.00 and set a "market outperform" rating on the stock in a research report on Wednesday, May 7th.

Hedge Funds Weigh In On Viridian Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Amalgamated Bank increased its position in shares of Viridian Therapeutics by 49.7% during the first quarter. Amalgamated Bank now owns 2,531 shares of the company's stock worth $34,000 after acquiring an additional 840 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of 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 acquiring an additional 876 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Viridian Therapeutics by 2.9% during the first quarter. SG Americas Securities LLC now owns 31,972 shares of the company's stock worth $431,000 after acquiring an additional 887 shares in the last quarter. Voya Investment Management LLC increased its position in shares of Viridian Therapeutics by 5.1% during the fourth quarter. Voya Investment Management LLC now owns 21,397 shares of the company's stock worth $410,000 after acquiring an additional 1,038 shares in the last quarter. Finally, Tudor Investment Corp ET AL increased its position in shares of Viridian Therapeutics by 3.0% during the fourth quarter. Tudor Investment Corp ET AL now owns 38,367 shares of the company's stock worth $735,000 after acquiring an additional 1,106 shares in the last quarter.

Viridian Therapeutics Stock Down 1.6%

Shares of VRDN opened at $17.52 on Friday. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -4.55 and a beta of 0.39. The company has a debt-to-equity ratio of 0.05, a quick ratio of 19.49 and a current ratio of 19.49. The business's fifty day moving average price is $15.56 and its two-hundred day moving average price is $15.24. Viridian Therapeutics has a 52 week low of $9.90 and a 52 week high of $27.20.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.87) EPS for the quarter, beating the consensus estimate of ($0.95) by $0.08. The company had revenue of $0.07 million during the quarter, compared to analysts' expectations of $0.16 million. Viridian Therapeutics had a negative net margin of 102,092.39% and a negative return on equity of 70.61%. The business's revenue was up .0% compared to the same quarter last year. On average, analysts predict that Viridian Therapeutics will post -4.03 earnings per share for the current year.

About Viridian Therapeutics

Viridian Therapeutics, Inc, a biotechnology company, discover and develops treatments for serious and rare diseases. The company's product pipeline includes VRDN-001, a monoclonal antibody targeting insulin-like growth factor-1 receptor that is in Phase 3 clinical trial for the treatment of thyroid eye disease (TED); and VRDN-003, a next generation IGF-1R humanized monoclonal antibodies targeting IGF-1R and incorporating half-life extension technology for the treatment of TED.

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