Wells Fargo & Company Reaffirms Equal Weight Rating for Viridian Therapeutics (NASDAQ:VRDN)

Viridian Therapeutics (NASDAQ:VRDN)‘s stock had its “equal weight” rating restated by Wells Fargo & Company in a note issued to investors on Thursday,Benzinga reports. They presently have a $27.00 price objective on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 42.63% from the stock’s previous close.

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

Viridian Therapeutics Stock Performance

Shares of Viridian Therapeutics stock opened at $18.93 on Thursday. The business has a 50-day moving average price of $21.87 and a two-hundred day moving average price of $18.05. Viridian Therapeutics has a 1-year low of $11.40 and a 1-year high of $27.20. The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04. The company has a market cap of $1.50 billion, a P/E ratio of -4.39 and a beta of 1.04.

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

Insider Activity at Viridian Therapeutics

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC raised its holdings in shares of Viridian Therapeutics by 16.8% in the 3rd quarter. FMR LLC now owns 11,183,478 shares of the company’s stock worth $254,424,000 after purchasing an additional 1,610,130 shares during the period. Novo Holdings A S lifted its position in shares of Viridian Therapeutics by 81.8% during the 2nd quarter. Novo Holdings A S now owns 2,000,000 shares of the company’s stock valued at $26,020,000 after buying an additional 900,000 shares during the last quarter. Maverick Capital Ltd. grew its stake in shares of Viridian Therapeutics by 22.9% during the 2nd quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock worth $43,036,000 after acquiring an additional 615,531 shares during the period. Candriam S.C.A. grew its stake in shares of Viridian Therapeutics by 167.8% during the 2nd quarter. Candriam S.C.A. now owns 749,804 shares of the company’s stock worth $9,754,000 after acquiring an additional 469,804 shares during the period. Finally, Parkman Healthcare Partners LLC bought a new stake in Viridian Therapeutics in the 3rd quarter valued at about $9,669,000.

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.