Viridian Therapeutics (NASDAQ:VRDN) Research Coverage Started at UBS Group

UBS Group assumed coverage on shares of Viridian Therapeutics (NASDAQ:VRDN) in a report published on Wednesday, MarketBeat.com reports. The brokerage issued a buy rating and a $50.00 price target on the stock.

A number of other research firms have also recently weighed in on VRDN. BTIG Research reaffirmed a “buy” rating and set a $61.00 target price on shares of Viridian Therapeutics in a research note on Tuesday, November 4th. Royal Bank Of Canada raised their price objective on Viridian Therapeutics from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Truist Financial reduced their price objective on Viridian Therapeutics from $41.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday. Oppenheimer increased their target price on Viridian Therapeutics from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Finally, Wall Street Zen raised Viridian Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Viridian Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.31.

Viridian Therapeutics Stock Performance

Viridian Therapeutics stock opened at $31.75 on Wednesday. Viridian Therapeutics has a 12-month low of $9.90 and a 12-month high of $34.04. 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 business’s 50-day moving average price is $30.48 and its two-hundred day moving average price is $22.89. The stock has a market cap of $3.03 billion, a PE ratio of -10.51 and a beta of 0.90.

Viridian Therapeutics (NASDAQ:VRDN) last posted its earnings results on Wednesday, November 5th. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.48. The firm had revenue of $70.57 million during the quarter, compared to analysts’ expectations of $16.21 million. Viridian Therapeutics had a negative net margin of 426.58% and a negative return on equity of 78.50%. The business’s revenue for the quarter was up 81993.0% compared to the same quarter last year. As a group, analysts expect that Viridian Therapeutics will post -4.03 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Fairmount Funds Management Llc purchased 454,545 shares of Viridian Therapeutics stock in a transaction on Thursday, October 23rd. The shares were purchased at an average price of $22.00 per share, for a total transaction of $9,999,990.00. Following the transaction, the director owned 3,914,458 shares of the company’s stock, valued at approximately $86,118,076. This represents a 13.14% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jennifer Tousignant sold 2,272 shares of the 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 disclosure for this sale is available in the SEC filing. 1.58% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Commodore Capital LP boosted its stake in shares of Viridian Therapeutics by 35.4% in the 2nd quarter. Commodore Capital LP now owns 4,875,000 shares of the company’s stock valued at $68,152,000 after purchasing an additional 1,275,000 shares during the last quarter. Maverick Capital Ltd. raised its stake in Viridian Therapeutics by 9.5% during the second quarter. Maverick Capital Ltd. now owns 2,257,010 shares of the company’s stock worth $31,553,000 after buying an additional 195,736 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Viridian Therapeutics by 1.2% in the second quarter. Geode Capital Management LLC now owns 1,740,614 shares of the company’s stock valued at $24,337,000 after buying an additional 20,089 shares during the period. Goldman Sachs Group Inc. boosted its position in Viridian Therapeutics by 33.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,231,092 shares of the company’s stock valued at $16,595,000 after acquiring an additional 310,998 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in Viridian Therapeutics by 11.4% during the second quarter. Marshall Wace LLP now owns 1,207,871 shares of the company’s stock valued at $16,886,000 after acquiring an additional 123,831 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.