Viridian Therapeutics, Inc. (NASDAQ:VRDN – Free Report) – Equities researchers at Lifesci Capital raised their Q3 2023 EPS estimates for Viridian Therapeutics in a report released on Wednesday, August 9th. Lifesci Capital analyst R. Katkhuda now anticipates that the company will post earnings of ($1.40) per share for the quarter, up from their prior estimate of ($1.46). The consensus estimate for Viridian Therapeutics’ current full-year earnings is ($5.22) per share. Lifesci Capital also issued estimates for Viridian Therapeutics’ Q4 2023 earnings at ($1.43) EPS and FY2023 earnings at ($5.71) EPS.
Viridian Therapeutics (NASDAQ:VRDN – Get Free Report) last posted its earnings results on Tuesday, August 8th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.26) by ($0.01). Viridian Therapeutics had a negative net margin of 13,462.86% and a negative return on equity of 86.39%. The firm had revenue of $0.07 million during the quarter, compared to the consensus estimate of $0.25 million. During the same quarter last year, the firm posted ($1.06) EPS. The business’s revenue was down 71.9% on a year-over-year basis.
Check Out Our Latest Report on VRDN
Viridian Therapeutics Stock Performance
NASDAQ:VRDN opened at $19.62 on Friday. The company has a current ratio of 12.09, a quick ratio of 12.93 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average of $22.61 and a 200-day moving average of $26.64. Viridian Therapeutics has a 1 year low of $13.66 and a 1 year high of $39.00. The stock has a market capitalization of $856.81 million, a P/E ratio of -4.03 and a beta of 0.89.
Hedge Funds Weigh In On Viridian Therapeutics
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. VR Adviser LLC boosted its stake in Viridian Therapeutics by 14.2% in the 2nd quarter. VR Adviser LLC now owns 3,082,622 shares of the company’s stock worth $73,336,000 after purchasing an additional 382,757 shares during the period. Renaissance Technologies LLC boosted its stake in Viridian Therapeutics by 112.3% in the 2nd quarter. Renaissance Technologies LLC now owns 76,000 shares of the company’s stock worth $1,808,000 after purchasing an additional 40,200 shares during the period. Credit Suisse AG boosted its stake in Viridian Therapeutics by 90.2% in the 2nd quarter. Credit Suisse AG now owns 49,137 shares of the company’s stock worth $1,169,000 after purchasing an additional 23,299 shares during the period. BlackRock Inc. boosted its stake in Viridian Therapeutics by 12.4% in the 2nd quarter. BlackRock Inc. now owns 3,116,135 shares of the company’s stock worth $74,133,000 after purchasing an additional 342,749 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its stake in Viridian Therapeutics by 25.1% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 11,980 shares of the company’s stock worth $285,000 after purchasing an additional 2,400 shares during the period.
Insider Activity
In other news, insider Lara Meisner sold 1,875 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $24.21, for a total value of $45,393.75. Following the completion of the transaction, the insider now owns 29,971 shares of the company’s stock, valued at approximately $725,597.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 4,643 shares of company stock valued at $121,461 in the last quarter. Company insiders own 1.43% of the company’s stock.
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-002 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.
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