Key Points
- Insider sale: Jennifer Tousignant sold 14,212 Viridian Therapeutics shares at an average price of $24.50, totaling approximately $348,194.
- Financial performance: Viridian reported a quarterly loss of $1.05 per share, slightly below analysts’ $1.03 loss estimate, while revenue of $0.28 million exceeded expectations.
- Market outlook: Analysts maintain a consensus “Moderate Buy” rating with a $38.93 price target, despite the stock trading at $24.50; institutional investors have also recently increased or initiated positions.
Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report) insider Jennifer Tousignant sold 14,212 shares of the firm's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $24.50, for a total value of $348,194.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Viridian Therapeutics Stock Performance
Shares of Viridian Therapeutics stock opened at $24.50 on Friday. The stock's 50-day moving average is $19.66 and its 200-day moving average is $20.97. Viridian Therapeutics, Inc. has a one year low of $13.18 and a one year high of $34.29. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of -7.27 and a beta of 0.91. The company has a debt-to-equity ratio of 0.43, a current ratio of 16.95 and a quick ratio of 16.95.
Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.02). Viridian Therapeutics had a negative return on equity of 72.97% and a negative net margin of 505.86%.The business had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.06 million. Equities analysts predict that Viridian Therapeutics, Inc. will post -4.07 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of equities analysts recently commented on the stock. Evercore set a $26.00 price target on shares of Viridian Therapeutics in a research report on Friday, May 15th. Wedbush lifted their price target on shares of Viridian Therapeutics from $32.00 to $43.00 and gave the company an "outperform" rating in a report on Tuesday, June 30th. Stifel Nicolaus set a $39.00 price objective on Viridian Therapeutics in a research note on Wednesday, May 13th. The Goldman Sachs Group reiterated a "buy" rating and issued a $39.00 price target on shares of Viridian Therapeutics in a research report on Tuesday, June 30th. Finally, Wall Street Zen lowered shares of Viridian Therapeutics from a "sell" rating to a "strong sell" rating in a report on Saturday, August 1st. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.93.
Get Our Latest Stock Analysis on VRDN
Institutional Investors Weigh In On Viridian Therapeutics
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Merck & Co. Inc. purchased a new position in Viridian Therapeutics during the second quarter worth about $1,716,015,000. Bank of America Corp DE boosted its stake in shares of Viridian Therapeutics by 17.5% in the 1st quarter. Bank of America Corp DE now owns 1,163,615 shares of the company's stock worth $22,760,000 after buying an additional 173,498 shares during the last quarter. Rice Hall James & Associates LLC bought a new position in shares of Viridian Therapeutics in the second quarter valued at approximately $21,601,000. Perceptive Advisors LLC increased its position in shares of Viridian Therapeutics by 108.1% during the fourth quarter. Perceptive Advisors LLC now owns 3,042,703 shares of the company's stock valued at $94,689,000 after acquiring an additional 1,580,303 shares during the last quarter. Finally, Jennison Associates LLC bought a new stake in Viridian Therapeutics during the fourth quarter worth $35,915,000.
About Viridian Therapeutics
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
