Analysts Set Viridian Therapeutics, Inc. (NASDAQ:VRDN) PT at $38.79

Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) have been assigned an average rating of “Moderate Buy” from the fourteen analysts that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and thirteen have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $38.7857.

A number of research firms have weighed in on VRDN. Truist Financial upped their price objective on shares of Viridian Therapeutics from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. Stifel Nicolaus set a $39.00 price target on Viridian Therapeutics in a research note on Wednesday, May 13th. Wall Street Zen raised Viridian Therapeutics from a “strong sell” rating to a “sell” rating in a report on Monday. 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, Evercore set a $26.00 target price on Viridian Therapeutics in a research report on Friday, May 15th.

Viridian Therapeutics Trading Up 0.5%

NASDAQ VRDN opened at $19.26 on Friday. The stock has a market cap of $1.99 billion, a P/E ratio of -5.80 and a beta of 0.90. The company’s fifty day simple moving average is $17.65 and its 200-day simple moving average is $22.48. The company has a current ratio of 15.15, a quick ratio of 15.15 and a debt-to-equity ratio of 0.10. Viridian Therapeutics has a 52 week low of $13.18 and a 52 week high of $34.29.

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

Insider Buying and Selling at Viridian Therapeutics

In related news, Director Fairmount Funds Management Llc purchased 1,176,470 shares of the company’s stock in a transaction that occurred 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 completion of the purchase, the director owned 5,090,928 shares in the company, valued at approximately $86,545,776. This represents a 30.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Viridian Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. MetLife Investment Management LLC increased its holdings in Viridian Therapeutics by 0.8% in the fourth quarter. MetLife Investment Management LLC now owns 43,985 shares of the company’s stock valued at $1,369,000 after buying an additional 356 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Viridian Therapeutics by 0.3% in 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 holdings 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 purchasing an additional 463 shares during the period. Bank of New York Mellon Corp boosted its holdings in Viridian Therapeutics by 0.3% in the first quarter. Bank of New York Mellon Corp now owns 216,525 shares of the company’s stock worth $4,235,000 after purchasing an additional 659 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Viridian Therapeutics by 1.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company’s stock valued at $669,000 after purchasing 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.