Viridian Therapeutics (NASDAQ:VRDN) Releases Earnings Results, Misses Expectations By $0.18 EPS

Viridian Therapeutics (NASDAQ:VRDN) posted its quarterly earnings data on Thursday. The company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by ($0.18), FiscalAI reports. The company had revenue of $0.13 million for the quarter, compared to analyst estimates of $15.75 million. Viridian Therapeutics had a negative net margin of 426.58% and a negative return on equity of 78.50%.

Viridian Therapeutics Stock Performance

Shares of NASDAQ VRDN traded up $0.55 during midday trading on Thursday, reaching $29.49. 1,774,957 shares of the stock were exchanged, compared to its average volume of 1,481,591. The company has a quick ratio of 11.28, a current ratio of 11.28 and a debt-to-equity ratio of 0.07. The firm has a 50-day simple moving average of $31.13 and a two-hundred day simple moving average of $26.29. Viridian Therapeutics has a twelve month low of $9.90 and a twelve month high of $34.29. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of -9.76 and a beta of 0.98.

Insiders Place Their Bets

In other Viridian Therapeutics news, insider Jennifer Tousignant sold 2,272 shares of the company’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $31.16, for a total value of $70,795.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.58% of the company’s stock.

Institutional Trading of Viridian Therapeutics

Several institutional investors have recently bought and sold shares of the business. Larson Financial Group LLC acquired a new position in Viridian Therapeutics in the 3rd quarter valued at about $52,000. US Bancorp DE grew its position in 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 acquiring an additional 463 shares during the period. Sei Investments Co. purchased a new position in Viridian Therapeutics in the second quarter worth approximately $147,000. Persistent Asset Partners Ltd acquired a new stake in Viridian Therapeutics during the fourth quarter worth $176,000. Finally, Creative Planning acquired a new position in shares of Viridian Therapeutics in the 2nd quarter valued at $179,000.

Analyst Ratings Changes

Several analysts have weighed in on VRDN shares. BTIG Research reissued a “buy” rating and set a $61.00 target price on shares of Viridian Therapeutics in a research report on Tuesday, November 4th. Royal Bank Of Canada upped their target price on Viridian Therapeutics from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Needham & Company LLC restated a “buy” rating and issued a $42.00 target price on shares of Viridian Therapeutics in a research note on Wednesday, February 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viridian Therapeutics in a research note on Wednesday, January 21st. Finally, Wedbush increased their price objective on Viridian Therapeutics from $42.00 to $47.00 and gave the company an “outperform” rating in a report on Wednesday, December 10th. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.64.

Viridian Therapeutics Company Profile

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.