Viridian Therapeutics, Inc. (NASDAQ:VRDN) Given Average Rating of “Moderate Buy” by Analysts

Viridian Therapeutics, Inc. (NASDAQ:VRDN) has been assigned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $36.1429.

Several equities research analysts recently weighed in on the company. Stifel Nicolaus set a $39.00 price objective on Viridian Therapeutics in a report on Wednesday, May 13th. Truist Financial decreased their price objective on Viridian Therapeutics from $36.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. Wedbush decreased their price objective on Viridian Therapeutics from $37.00 to $31.00 and set an “outperform” rating for the company in a report on Wednesday, April 8th. HC Wainwright decreased their price objective on Viridian Therapeutics from $34.00 to $22.00 and set a “buy” rating for the company in a report on Tuesday, March 31st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Viridian Therapeutics in a report on Monday, April 20th.

Viridian Therapeutics Trading Up 3.0%

Shares of VRDN opened at $16.35 on Thursday. The business has a 50-day moving average of $17.08 and a 200 day moving average of $25.91. Viridian Therapeutics has a fifty-two week low of $13.18 and a fifty-two week high of $34.29. The firm has a market cap of $1.69 billion, a P/E ratio of -4.92 and a beta of 0.90. The company has a debt-to-equity ratio of 0.10, a quick ratio of 15.15 and a current ratio of 15.15.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.90) earnings per share for the quarter, topping the consensus estimate of ($1.06) by $0.16. Viridian Therapeutics had a negative return on equity of 80.19% and a negative net margin of 490.31%.The company had revenue of $0.14 million during the quarter, compared to analyst estimates of $0.04 million. During the same quarter last year, the firm posted ($0.87) EPS. The firm’s revenue for the quarter was up 95.8% on a year-over-year basis. As a group, research analysts forecast that Viridian Therapeutics will post -3.87 EPS for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in VRDN. MetLife Investment Management LLC boosted its position in shares of Viridian Therapeutics by 0.8% during the 4th quarter. MetLife Investment Management LLC now owns 43,985 shares of the company’s stock valued at $1,369,000 after acquiring an additional 356 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Viridian Therapeutics by 0.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,360 shares of the company’s stock valued at $4,337,000 after acquiring an additional 380 shares during the last quarter. US Bancorp DE boosted its position in shares of Viridian Therapeutics by 23.2% during the 3rd quarter. US Bancorp DE now owns 2,457 shares of the company’s stock valued at $53,000 after acquiring an additional 463 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Viridian Therapeutics by 0.3% during the 1st 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 last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Viridian Therapeutics by 1.8% during the 1st 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 last quarter.

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.