Viridian Therapeutics (NASDAQ:VRDN) Downgraded to “Sell” Rating by Wall Street Zen

Viridian Therapeutics (NASDAQ:VRDN) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

VRDN has been the subject of several other research reports. Wells Fargo & Company raised their price target on shares of Viridian Therapeutics from $26.00 to $29.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 3rd. Needham & Company LLC reissued a “buy” rating and issued a $42.00 price objective on shares of Viridian Therapeutics in a research note on Wednesday, February 4th. Evercore restated an “outperform” rating and issued a $44.00 price objective on shares of Viridian Therapeutics in a report on Tuesday, January 20th. Wedbush raised their target price on Viridian Therapeutics from $42.00 to $47.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 10th. Finally, William Blair started coverage on Viridian Therapeutics in a research report on Wednesday, December 3rd. They issued an “outperform” rating on the stock. Thirteen analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $42.43.

Viridian Therapeutics Stock Performance

NASDAQ:VRDN opened at $28.34 on Friday. The stock’s 50-day moving average is $30.73 and its 200-day moving average is $26.79. Viridian Therapeutics has a 1-year low of $9.90 and a 1-year high of $34.29. The company has a current ratio of 12.65, a quick ratio of 12.65 and a debt-to-equity ratio of 0.08. The stock has a market cap of $2.90 billion, a P/E ratio of -8.61 and a beta of 1.00.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.18). Viridian Therapeutics had a negative net margin of 483.57% and a negative return on equity of 83.25%. The business had revenue of $0.13 million during the quarter, compared to the consensus estimate of $15.75 million. Equities research analysts anticipate that Viridian Therapeutics will post -4.03 earnings per share for the current year.

Insider Activity at Viridian Therapeutics

In other news, insider Jennifer Tousignant sold 2,272 shares of the company’s stock in a transaction on Wednesday, December 31st. The shares were 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 available through this link. Corporate insiders own 1.58% of the company’s stock.

Hedge Funds Weigh In On Viridian Therapeutics

Hedge funds have recently bought and sold shares of the company. Perceptive Advisors LLC boosted its position in Viridian Therapeutics by 108.1% during the fourth quarter. Perceptive Advisors LLC now owns 3,042,703 shares of the company’s stock valued at $94,689,000 after acquiring an additional 1,580,303 shares during the last quarter. Morgan Stanley raised its position in shares of Viridian Therapeutics by 805.6% in the 4th quarter. Morgan Stanley now owns 1,738,225 shares of the company’s stock worth $54,094,000 after acquiring an additional 1,546,284 shares in the last quarter. Avoro Capital Advisors LLC bought a new position in shares of Viridian Therapeutics in the 4th quarter worth about $46,680,000. Vanguard Group Inc. lifted its stake in shares of Viridian Therapeutics by 29.6% in the 4th quarter. Vanguard Group Inc. now owns 5,612,144 shares of the company’s stock valued at $174,650,000 after purchasing an additional 1,280,161 shares during the period. Finally, Commodore Capital LP lifted 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 period.

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.