HC Wainwright Reiterates "Buy" Rating for Viridian Therapeutics (NASDAQ:VRDN)

HC Wainwright reissued their buy rating on shares of Viridian Therapeutics (NASDAQ:VRDN - Free Report) in a report published on Wednesday morning,Benzinga reports. They currently have a $34.00 price objective on the stock.

Separately, Needham & Company LLC restated a "buy" rating and set a $38.00 price target on shares of Viridian Therapeutics in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.70.

Viridian Therapeutics Stock Down 0.7 %

VRDN stock traded down $0.10 during trading on Wednesday, reaching $13.41. 356,153 shares of the company traded hands, compared to its average volume of 1,199,782. The business has a 50 day simple moving average of $14.24 and a 200 day simple moving average of $18.21. The company has a debt-to-equity ratio of 0.04, a quick ratio of 18.55 and a current ratio of 18.55. Viridian Therapeutics has a 12 month low of $9.90 and a 12 month high of $27.20. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -3.11 and a beta of 0.81.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.05) by $0.24. The business had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.05 million. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. On average, equities research analysts anticipate that Viridian Therapeutics will post -4.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. R Squared Ltd bought a new stake in shares of Viridian Therapeutics in the fourth quarter valued at about $26,000. Amalgamated Bank grew its holdings 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 purchasing an additional 840 shares during the last quarter. Foresite Capital Management VI LLC bought a new position in shares of Viridian Therapeutics in the fourth quarter worth about $38,000. AlphaQuest LLC increased its stake in shares of Viridian Therapeutics by 119.0% in the 4th quarter. AlphaQuest LLC now owns 2,795 shares of the company's stock valued at $54,000 after buying an additional 1,519 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Viridian Therapeutics by 3,892.9% during the 1st quarter. GAMMA Investing LLC now owns 8,425 shares of the company's stock worth $114,000 after buying an additional 8,214 shares during the period.

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.