Wells Fargo & Company Issues Positive Forecast for Viridian Therapeutics (NASDAQ:VRDN) Stock Price

Viridian Therapeutics (NASDAQ:VRDN) had its target price lifted by Wells Fargo & Company from $26.00 to $29.00 in a report issued on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other analysts have also recently commented on the stock. William Blair initiated coverage on shares of Viridian Therapeutics in a research report on Wednesday, December 3rd. They set an “outperform” rating on the stock. BTIG Research restated a “buy” rating and set a $61.00 price target on shares of Viridian Therapeutics in a report on Tuesday, November 4th. Wedbush increased their target price on shares of Viridian Therapeutics from $42.00 to $47.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 10th. Wall Street Zen raised shares of Viridian Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $40.00 target price on shares of Viridian Therapeutics in a research report on Thursday, November 6th. Thirteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.64.

Viridian Therapeutics Stock Down 3.9%

Shares of NASDAQ:VRDN opened at $31.90 on Tuesday. The firm has a market cap of $3.04 billion, a P/E ratio of -10.56 and a beta of 0.98. The business has a fifty day simple moving average of $32.14 and a 200 day simple moving average of $25.05. The company has a quick ratio of 11.28, a current ratio of 11.28 and a debt-to-equity ratio of 0.07. Viridian Therapeutics has a 12-month low of $9.90 and a 12-month high of $34.29.

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

Insider Buying and Selling at Viridian Therapeutics

In other news, insider Jennifer Tousignant sold 2,272 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $31.16, for a total value of $70,795.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.65% of the stock is owned by corporate insiders.

Institutional Trading of Viridian Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in VRDN. Vanguard Group Inc. boosted its holdings in Viridian Therapeutics by 29.6% during the fourth quarter. Vanguard Group Inc. now owns 5,612,144 shares of the company’s stock worth $174,650,000 after purchasing an additional 1,280,161 shares during the last quarter. Commodore Capital LP lifted its holdings in Viridian Therapeutics by 35.4% during the second quarter. Commodore Capital LP now owns 4,875,000 shares of the company’s stock worth $68,152,000 after acquiring an additional 1,275,000 shares during the period. Maverick Capital Ltd. grew its position in Viridian Therapeutics by 9.5% during the second quarter. Maverick Capital Ltd. now owns 2,257,010 shares of the company’s stock valued at $31,553,000 after buying an additional 195,736 shares during the period. Geode Capital Management LLC grew its position in shares of Viridian Therapeutics by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,740,614 shares of the company’s stock valued at $24,337,000 after acquiring an additional 20,089 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Viridian Therapeutics by 33.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,231,092 shares of the company’s stock worth $16,595,000 after purchasing an additional 310,998 shares during the last quarter.

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.