Viridian Therapeutics (NASDAQ:VRDN) Announces Earnings Results, Misses Expectations By $0.02 EPS

Viridian Therapeutics (NASDAQ:VRDN) released its quarterly earnings data on Thursday. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($0.02), Zacks reports. The company had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.06 million. Viridian Therapeutics had a negative net margin of 490.31% and a negative return on equity of 80.19%.

Viridian Therapeutics Stock Performance

Shares of VRDN stock traded up $1.08 during mid-day trading on Friday, hitting $23.59. The stock had a trading volume of 1,659,799 shares, compared to its average volume of 2,224,293. The firm has a market cap of $2.43 billion, a PE ratio of -7.11 and a beta of 0.91. The company’s 50-day simple moving average is $18.26 and its 200-day simple moving average is $21.65. The company has a debt-to-equity ratio of 0.10, a current ratio of 15.15 and a quick ratio of 15.15. Viridian Therapeutics has a fifty-two week low of $13.18 and a fifty-two week high of $34.29.

Insider Transactions at Viridian Therapeutics

In other news, Director Fairmount Funds Management Llc acquired 1,176,470 shares of Viridian Therapeutics stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average price of $17.00 per share, for a total transaction of $19,999,990.00. Following the completion of the transaction, the director directly owned 5,090,928 shares in the company, valued at approximately $86,545,776. This trade represents a 30.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.40% of the stock is owned by corporate insiders.

Institutional Trading of Viridian Therapeutics

Several hedge funds have recently modified their holdings of the business. FORA Capital LLC purchased a new stake in Viridian Therapeutics during the fourth quarter worth $276,000. OpenArc Corporate Advisory LLC purchased a new position in shares of Viridian Therapeutics in the fourth quarter valued at $312,000. Brooklyn Investment Group acquired a new position in shares of Viridian Therapeutics during the 4th quarter worth $250,000. Ensign Peak Advisors Inc acquired a new position in shares of Viridian Therapeutics during the 4th quarter worth $201,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Viridian Therapeutics in the 4th quarter worth about $221,000.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on VRDN shares. Weiss Ratings downgraded Viridian Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 30th. Evercore set a $26.00 price objective on Viridian Therapeutics in a report on Friday, May 15th. Truist Financial lifted their target price on shares of Viridian Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a report on Friday. 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, Royal Bank Of Canada raised their price objective on shares of Viridian Therapeutics from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday. Thirteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Viridian Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $38.93.

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.