Viridian Therapeutics (NASDAQ:VRDN) Receives Equal Weight Rating from Wells Fargo & Company

Viridian Therapeutics (NASDAQ:VRDN)‘s stock had its “equal weight” rating reissued by equities researchers at Wells Fargo & Company in a research note issued on Thursday,Benzinga reports. They presently have a $27.00 target price on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 42.63% from the company’s previous close.

VRDN has been the subject of a number of other research reports. The Goldman Sachs Group lifted their price target on Viridian Therapeutics from $25.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Royal Bank of Canada lifted their target price on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the company an “outperform” rating in a research report on Tuesday. TD Cowen started coverage on shares of Viridian Therapeutics in a report on Monday, November 25th. They issued a “buy” rating on the stock. BTIG Research lifted their price objective on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $38.00 target price on shares of Viridian Therapeutics in a research report on Monday, November 25th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $35.70.

Viridian Therapeutics Stock Down 9.1 %

Shares of NASDAQ:VRDN opened at $18.93 on Thursday. The firm has a fifty day moving average price of $21.87 and a two-hundred day moving average price of $18.05. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -4.39 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 18.55 and a quick ratio of 18.55. Viridian Therapeutics has a one year low of $11.40 and a one year high of $27.20.

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

Insider Activity

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

Institutional Inflows and Outflows

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

About Viridian Therapeutics

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.