Viridian Therapeutics’ (VRDN) Equal Weight Rating Reaffirmed at Wells Fargo & Company

Wells Fargo & Company restated their equal weight rating on shares of Viridian Therapeutics (NASDAQ:VRDN) in a research report report published on Thursday, Marketbeat.com reports. Wells Fargo & Company currently has a $27.00 price target on the stock, down from their prior price target of $37.00.

Several other analysts have also commented on the stock. Royal Bank of Canada raised their price objective on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the stock an “outperform” rating in a report on Tuesday. BTIG Research lifted their price target on Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. HC Wainwright reiterated a “buy” rating and issued a $34.00 price objective on shares of Viridian Therapeutics in a report on Monday. Needham & Company LLC restated a “buy” rating and set a $38.00 target price on shares of Viridian Therapeutics in a report on Monday, November 25th. Finally, The Goldman Sachs Group upped their target price on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.70.

Viridian Therapeutics Price Performance

Shares of Viridian Therapeutics stock opened at $18.73 on Thursday. The business has a 50 day moving average of $21.81 and a 200 day moving average of $18.06. Viridian Therapeutics has a 52 week low of $11.40 and a 52 week high of $27.20. The company has a market cap of $1.48 billion, a PE ratio of -4.35 and a beta of 1.04. The company has a quick ratio of 18.55, a current ratio of 18.55 and a debt-to-equity ratio of 0.04.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The company had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.08 million. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. As a group, equities research analysts forecast that Viridian Therapeutics will post -4.03 earnings per share for the current year.

Insider Activity at Viridian Therapeutics

In other Viridian Therapeutics news, CEO Stephen F. Mahoney purchased 21,400 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was purchased at an average price of $23.33 per share, for a total transaction of $499,262.00. Following the completion of the purchase, the chief executive officer now directly owns 21,400 shares of the company’s stock, valued at $499,262. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Thomas W. Beetham acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average cost of $23.41 per share, for a total transaction of $117,050.00. Following the completion of the transaction, the chief operating officer now directly owns 6,000 shares of the company’s stock, valued at $140,460. The trade was a 500.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.65% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VRDN. Quest Partners LLC grew its position in Viridian Therapeutics by 344.0% in the 2nd quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock worth $79,000 after purchasing an additional 4,692 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Viridian Therapeutics in the 3rd quarter worth $149,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Viridian Therapeutics by 24.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock worth $156,000 after acquiring an additional 2,359 shares during the period. AlphaCentric Advisors LLC lifted its holdings in Viridian Therapeutics by 108.3% in the second quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock valued at $163,000 after acquiring an additional 6,500 shares during the period. Finally, Arizona State Retirement System boosted its position in Viridian Therapeutics by 14.7% in the second quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock worth $171,000 after purchasing an additional 1,688 shares during the last quarter.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc, a biotechnology company, discover and develops treatments for serious and rare diseases. The company's product pipeline includes VRDN-001, a monoclonal antibody targeting insulin-like growth factor-1 receptor that is in Phase 3 clinical trial for the treatment of thyroid eye disease (TED); and VRDN-003, a next generation IGF-1R humanized monoclonal antibodies targeting IGF-1R and incorporating half-life extension technology for the treatment of TED.