Lifesci Capital Has Bearish Outlook for VRDN FY2024 Earnings

Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) - Research analysts at Lifesci Capital dropped their FY2024 EPS estimates for Viridian Therapeutics in a report issued on Tuesday, November 12th. Lifesci Capital analyst R. Katkhuda now forecasts that the company will post earnings of ($4.17) per share for the year, down from their previous estimate of ($4.04). The consensus estimate for Viridian Therapeutics' current full-year earnings is ($3.94) per share. Lifesci Capital also issued estimates for Viridian Therapeutics' Q4 2024 earnings at ($1.18) EPS.

A number of other equities research analysts have also commented on the stock. Oppenheimer reiterated an "outperform" rating and set a $28.00 price target (down from $31.00) on shares of Viridian Therapeutics in a report on Monday, August 12th. The Goldman Sachs Group lifted their price objective on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a "buy" rating in a research report on Thursday, September 12th. Needham & Company LLC reaffirmed a "buy" rating and issued a $38.00 price target on shares of Viridian Therapeutics in a research note on Wednesday. BTIG Research boosted their price objective on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the company a "buy" rating in a research report on Thursday, September 26th. Finally, HC Wainwright increased their price objective on Viridian Therapeutics from $27.00 to $34.00 and gave the stock a "buy" rating in a report on Thursday. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $36.33.

Viridian Therapeutics Trading Down 6.9 %

NASDAQ:VRDN traded down $1.50 during trading hours on Friday, reaching $20.14. The company's stock had a trading volume of 1,833,077 shares, compared to its average volume of 1,119,797. The company has a debt-to-equity ratio of 0.05, a quick ratio of 15.82 and a current ratio of 15.82. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of -4.62 and a beta of 1.10. The firm has a 50-day simple moving average of $22.52 and a 200-day simple moving average of $16.92. Viridian Therapeutics has a 1 year low of $11.40 and a 1 year high of $27.20.

Hedge Funds Weigh In On Viridian Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. increased its position in Viridian Therapeutics by 19.2% during the first quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company's stock valued at $87,000 after acquiring an additional 799 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Viridian Therapeutics by 4.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,822 shares of the company's stock valued at $505,000 after purchasing an additional 1,135 shares during the period. Arizona State Retirement System increased its position in shares of 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 purchasing an additional 1,688 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Viridian Therapeutics by 17.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,997 shares of the company's stock worth $318,000 after purchasing an additional 2,036 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Viridian Therapeutics by 24.6% in the second 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 last quarter.

Insider Activity

In related news, CEO Stephen F. Mahoney acquired 21,400 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average price of $23.33 per share, for a total transaction of $499,262.00. Following the completion of the transaction, the chief executive officer now directly owns 21,400 shares in the company, valued at approximately $499,262. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Thomas W. Beetham bought 5,000 shares of the company'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 directly owns 6,000 shares of the company's stock, valued at $140,460. The trade was a 500.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 1,626,400 shares of company stock worth $30,616,312 over the last 90 days. 0.65% of the stock is currently owned by insiders.

Viridian Therapeutics Company Profile

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.