Truist Financial Cuts Viridian Therapeutics (NASDAQ:VRDN) Price Target to $40.00

Viridian Therapeutics (NASDAQ:VRDN) had its price objective cut by Truist Financial from $41.00 to $40.00 in a research report released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently issued reports on VRDN. Needham & Company LLC increased their target price on Viridian Therapeutics from $34.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, December 23rd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $40.00 price objective on shares of Viridian Therapeutics in a research report on Thursday, November 6th. Oppenheimer increased their price objective on Viridian Therapeutics from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. BTIG Research restated a “buy” rating and issued a $61.00 target price on shares of Viridian Therapeutics in a research note on Tuesday, November 4th. Finally, UBS Group started coverage on Viridian Therapeutics in a research report on Wednesday. They set a “buy” rating and a $50.00 price target for the company. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Viridian Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $42.31.

Viridian Therapeutics Stock Performance

Shares of VRDN stock opened at $31.75 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 11.28 and a current ratio of 11.28. Viridian Therapeutics has a 52 week low of $9.90 and a 52 week high of $34.04. The company’s 50 day moving average price is $30.48 and its two-hundred day moving average price is $22.95. The company has a market capitalization of $3.03 billion, a P/E ratio of -10.51 and a beta of 0.90.

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

Insider Activity at Viridian Therapeutics

In other news, insider Jennifer Tousignant sold 2,272 shares of the company’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 transaction of $70,795.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Fairmount Funds Management Llc acquired 454,545 shares of the business’s stock in a transaction dated Thursday, October 23rd. The stock was bought at an average cost of $22.00 per share, with a total value of $9,999,990.00. Following the acquisition, the director owned 3,914,458 shares in the company, valued at $86,118,076. The trade was a 13.14% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.58% of the company’s stock.

Hedge Funds Weigh In On Viridian Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd acquired a new stake in Viridian Therapeutics during the third quarter worth approximately $35,000. Farther Finance Advisors LLC increased its stake in shares of Viridian Therapeutics by 332.1% during the third quarter. Farther Finance Advisors LLC now owns 1,940 shares of the company’s stock worth $42,000 after purchasing an additional 1,491 shares during the period. Bessemer Group Inc. lifted its holdings in Viridian Therapeutics by 947.7% during the 3rd quarter. Bessemer Group Inc. now owns 2,085 shares of the company’s stock worth $45,000 after purchasing an additional 1,886 shares during the last quarter. Larson Financial Group LLC bought a new stake in Viridian Therapeutics in the 3rd quarter valued at $52,000. Finally, US Bancorp DE grew its holdings in Viridian Therapeutics by 23.2% in the 3rd quarter. US Bancorp DE now owns 2,457 shares of the company’s stock valued at $53,000 after buying an additional 463 shares in the last quarter.

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.