Viridian Therapeutics (NASDAQ:VRDN) Rating Lowered to Strong Sell at Wall Street Zen

Viridian Therapeutics (NASDAQ:VRDN) was downgraded by analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

Several other equities analysts have also recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $32.00 target price on shares of Viridian Therapeutics in a research note on Monday, June 29th. Royal Bank Of Canada upped their price target on shares of Viridian Therapeutics from $36.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 22nd. Truist Financial increased their price target on shares of Viridian Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, August 7th. The Goldman Sachs Group reissued a “buy” rating and issued a $39.00 price objective on shares of Viridian Therapeutics in a research report on Tuesday, June 30th. Finally, Wedbush boosted their price objective on shares of Viridian Therapeutics from $32.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 30th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.69.

Viridian Therapeutics Stock Performance

VRDN opened at $19.00 on Friday. The business’s 50-day simple moving average is $22.02 and its 200 day simple moving average is $19.36. Viridian Therapeutics has a 52-week low of $13.18 and a 52-week high of $34.29. The company has a debt-to-equity ratio of 0.43, a quick ratio of 16.95 and a current ratio of 16.95. The firm has a market capitalization of $2.15 billion, a PE ratio of -5.64 and a beta of 1.11.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.02). The company had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.06 million. Viridian Therapeutics had a negative net margin of 505.86% and a negative return on equity of 72.97%. As a group, sell-side analysts expect that Viridian Therapeutics will post -4.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Viridian Therapeutics

In related news, insider Jennifer Tousignant sold 14,212 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $24.50, for a total transaction of $348,194.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Viridian Therapeutics

Several hedge funds have recently added to or reduced their stakes in VRDN. KBC Group NV acquired a new position in shares of Viridian Therapeutics in the first quarter valued at $34,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Viridian Therapeutics during the 2nd quarter worth about $33,000. State of Wyoming acquired a new stake in shares of Viridian Therapeutics during the 2nd quarter worth about $43,000. Man Group plc bought a new stake in shares of Viridian Therapeutics during the 2nd quarter worth about $197,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Viridian Therapeutics during the 2nd quarter worth about $204,000.

About Viridian Therapeutics

Viridian Therapeutics, Inc (NASDAQ:VRDN) is a clinical-stage biotechnology company focused on developing treatments for autoimmune and inflammatory diseases. The company’s primary research centers on antibody-based medicines designed to target the insulin-like growth factor 1 receptor (IGF-1R), a biological pathway associated with thyroid eye disease (TED).

Viridian’s pipeline includes veligrotug, an investigational monoclonal antibody being developed for TED, as well as additional drug candidates intended to provide alternative dosing options and potentially address broader autoimmune conditions.