Viridian Therapeutics (NASDAQ:VRDN) Insider Jennifer Tousignant Sells 14,212 Shares

Key Points

• Insider sale: Jennifer Tousignant sold 14,212 Viridian Therapeutics shares at an average price of $24.50, totaling approximately $348,194.
• Quarterly results: Viridian reported a quarterly loss of $1.05 per share, slightly missing analysts’ $1.03 consensus estimate, while revenue of $280,000 exceeded expectations.
• Analyst outlook remains positive: Thirteen analysts rate the stock a Buy versus one Sell, producing a “Moderate Buy” consensus and an average price target of $38.93.

Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report) insider Jennifer Tousignant sold 14,212 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $24.50, for a total value of $348,194.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Viridian Therapeutics Price Performance

NASDAQ:VRDN traded down $0.30 during mid-day trading on Thursday, reaching $24.50. The stock had a trading volume of 1,076,002 shares, compared to its average volume of 1,882,471. The firm has a 50 day moving average price of $19.66 and a two-hundred day moving average price of $20.97. The stock has a market capitalization of $2.78 billion, a P/E ratio of -7.27 and a beta of 0.91. Viridian Therapeutics, Inc. has a one year low of $13.18 and a one year high of $34.29. 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 (NASDAQ:VRDN - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($1.05) EPS for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.02). The business had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.06 million. Viridian Therapeutics had a negative net margin of 505.86% and a negative return on equity of 72.97%. As a group, analysts expect that Viridian Therapeutics, Inc. will post -4.07 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on VRDN shares. Truist Financial lifted their target price on shares of Viridian Therapeutics from $38.00 to $39.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Wedbush upped their price target on shares of Viridian Therapeutics from $32.00 to $43.00 and gave the company an "outperform" rating in a research report on Tuesday, June 30th. Weiss Ratings cut Viridian Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, June 30th. Wells Fargo & Company upgraded Viridian Therapeutics from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $20.00 to $31.00 in a report on Monday, June 29th. Finally, Needham & Company LLC restated a "buy" rating and set a $32.00 target price on shares of Viridian Therapeutics in a report on Monday, June 29th. Thirteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Viridian Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $38.93.

Institutional Investors Weigh In On Viridian Therapeutics

Several institutional investors have recently modified their holdings of the business. ANTIPODES PARTNERS Ltd purchased a new position in shares of Viridian Therapeutics during the 4th quarter worth $36,000. KBC Group NV purchased a new position in Viridian Therapeutics during the first quarter valued at approximately $34,000. State of Wyoming purchased a new position in Viridian Therapeutics during the second quarter valued at approximately $43,000. Larson Financial Group LLC bought a new position in shares of Viridian Therapeutics in the third quarter worth approximately $52,000. Finally, US Bancorp DE boosted its position in shares of 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 purchasing an additional 463 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.

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