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

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report)'s stock had its "equal weight" rating reiterated by research analysts at Wells Fargo & Company in a report released on Thursday, MarketBeat reports. They currently have a $27.00 target price on the stock, down from their prior target price of $37.00. Wells Fargo & Company's price objective points to a potential upside of 44.15% from the company's current price.

VRDN has been the topic of a number of other research reports. HC Wainwright restated a "buy" rating and set a $34.00 price target on shares of Viridian Therapeutics in a research note on Monday. Needham & Company LLC reiterated a "buy" rating and issued a $38.00 price target on shares of Viridian Therapeutics in a research report 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 stock a "buy" rating in a research report on Thursday, September 12th. Royal Bank of Canada lifted their price objective on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the company an "outperform" rating in a research note on Tuesday. Finally, BTIG Research raised their price target on Viridian Therapeutics from $56.00 to $61.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Viridian Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $35.70.

Viridian Therapeutics Stock Down 1.1 %

NASDAQ:VRDN traded down $0.20 during midday trading on Thursday, reaching $18.73. The company had a trading volume of 2,255,545 shares, compared to its average volume of 1,157,624. The stock's fifty day simple moving average is $21.87 and its 200-day simple moving average is $18.05. The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04. Viridian Therapeutics has a 12-month low of $11.40 and a 12-month high of $27.20. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -4.35 and a beta of 1.04.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share 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 analysts' expectations of $0.08 million. On average, sell-side analysts anticipate that Viridian Therapeutics will post -4.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Viridian Therapeutics

Several large investors have recently bought and sold shares of VRDN. Quest Partners LLC grew its stake in shares of Viridian Therapeutics by 344.0% during the second quarter. Quest Partners LLC now owns 6,056 shares of the company's stock valued at $79,000 after acquiring an additional 4,692 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Viridian Therapeutics during the 3rd quarter worth approximately $149,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Viridian Therapeutics in the 3rd quarter valued at approximately $208,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Viridian Therapeutics by 24.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company's stock valued at $156,000 after buying an additional 2,359 shares during the last quarter. Finally, AlphaCentric Advisors LLC boosted its stake in shares of Viridian Therapeutics by 108.3% during the 2nd quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company's stock valued at $163,000 after buying an additional 6,500 shares during the last quarter.

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.