Viridian Therapeutics (NASDAQ:VRDN) Stock Rating Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Viridian Therapeutics (NASDAQ:VRDN) from a sell rating to a strong sell rating in a report published on Sunday morning,Wall Street Zen reports.

Other analysts have also issued reports about the stock. Wedbush lifted their price target on shares of Viridian Therapeutics from $32.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 30th. Royal Bank Of Canada increased their price objective on shares of Viridian Therapeutics from $36.00 to $38.00 and gave the company an “outperform” rating in a research report on Tuesday, September 22nd. Wells Fargo & Company upgraded shares of Viridian Therapeutics from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $20.00 to $31.00 in a report on Monday, June 29th. 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. Finally, Needham & Company LLC reiterated a “buy” rating and set a $32.00 target price on shares of Viridian Therapeutics in a research note on Monday, June 29th. Twelve 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 data from MarketBeat, Viridian Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $38.69.

Viridian Therapeutics Stock Performance

Viridian Therapeutics stock opened at $19.40 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 16.95 and a quick ratio of 16.95. Viridian Therapeutics has a one year low of $13.18 and a one year high of $34.29. The stock has a market capitalization of $2.20 billion, a PE ratio of -5.76 and a beta of 1.11. The business’s fifty day moving average is $22.03 and its 200 day moving average is $19.43.

Viridian Therapeutics (NASDAQ:VRDN) last issued its earnings results on Thursday, August 6th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.02). The business had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $0.06 million. Viridian Therapeutics had a negative return on equity of 72.97% and a negative net margin of 505.86%. On average, sell-side analysts predict that Viridian Therapeutics will post -4.07 EPS for the current year.

Insider Buying and Selling at Viridian Therapeutics

In other news, insider Jennifer Tousignant sold 14,212 shares of Viridian Therapeutics stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $24.50, for a total transaction of $348,194.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Viridian Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Perceptive Advisors LLC boosted its holdings in Viridian Therapeutics by 108.1% in the 4th quarter. Perceptive Advisors LLC now owns 3,042,703 shares of the company’s stock worth $94,689,000 after buying an additional 1,580,303 shares during the period. Avoro Capital Advisors LLC purchased a new stake in Viridian Therapeutics in the 4th quarter worth $46,680,000. Parkman Healthcare Partners LLC bought a new stake in Viridian Therapeutics during the second quarter valued at about $25,306,000. Rice Hall James & Associates LLC bought a new stake in Viridian Therapeutics during the second quarter valued at about $21,601,000. Finally, Elmind Capital LP bought a new stake in Viridian Therapeutics during the second quarter valued at about $18,093,182.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc (NASDAQ:VRDN) is a clinical-stage biotechnology company focused on developing treatments for autoimmune and inflammatory diseases. The company’s primary research centers on antibody-based medicines designed to target the insulin-like growth factor 1 receptor (IGF-1R), a biological pathway associated with thyroid eye disease (TED).

Viridian’s pipeline includes veligrotug, an investigational monoclonal antibody being developed for TED, as well as additional drug candidates intended to provide alternative dosing options and potentially address broader autoimmune conditions.