VRDN

Appointment of Jeff Ajer: Viridian Therapeutics has appointed Jeff Ajer, former Chief Commercial Officer at BioMarin, to its Board of Directors, bringing over 25 years of experience in commercialization for rare diseases and specialty medicines.

Inducement Grants Announcement: The company announced the grant of non-qualified stock options to 14 new employees as an inducement for joining, with shares vesting over four years, while also advancing multiple clinical trials for treatments targeting thyroid eye disease and autoimmune diseases.

Viridian Therapeutics Stock Performance: Viridian Therapeutics Inc (VRDN) shares have entered oversold territory with an RSI of 27.4, indicating potential buying opportunities as the stock trades around $12.53, compared to its 52-week low of $11.40 and high of $27.20.

Market Comparison: The current RSI for the S&P 500 ETF (SPY) is 39.0, suggesting that VRDN's recent heavy selling may be nearing exhaustion, prompting bullish investors to consider entry points.

Stock Options Granted: Viridian Therapeutics has awarded 113,200 stock options to nine new employees and 310,700 options to Chief Medical Officer Dr. Radhika Tripuraneni, with a vesting schedule over four years.

Market Performance: The company's stock closed at $15.58, reflecting a decrease of 2.26%, with no changes in after-hours trading.

New Employee Stock Options: Viridian Therapeutics granted non-qualified stock options to nine new employees, totaling 113,200 shares, with a four-year vesting schedule starting from their employment date. Additionally, the company approved a separate grant of 310,700 shares to its newly appointed Chief Medical Officer, Radhika Tripuraneni.

Company Focus and Clinical Trials: Viridian is dedicated to developing medicines for serious and rare diseases, particularly advancing treatments for thyroid eye disease (TED) through ongoing clinical trials that have shown positive results, as well as exploring novel therapies for autoimmune diseases.

Analyst Ratings on BeiGene: Analysts maintain a bullish outlook on BeiGene, with TD Cowen's Yaron Werber giving it a Buy rating and a price target of $334.00, while the consensus suggests a Strong Buy with an average target of $261.53.

Viridian Therapeutics Outlook: JMP Securities' Jason Butler also reiterated a Buy rating for Viridian Therapeutics, setting a price target of $42.00, supported by a Strong Buy consensus indicating a potential upside of 170.2%.

Viridian Therapeutics Stock Performance: Viridian Therapeutics Inc (VRDN) shares have entered oversold territory with an RSI of 29.3, indicating potential buying opportunities after heavy selling, as the stock trades around $15.59, between its 52-week low of $11.40 and high of $27.20.

Market Comparison: The current RSI for the S&P 500 ETF (SPY) is at 44.6, suggesting that VRDN's recent decline may be nearing exhaustion compared to broader market trends.

Analyst Ratings: Stifel Nicolaus analyst Alex Thompson maintains a Buy rating on Viridian Therapeutics with a price target of $41.00, while the current analyst consensus is a Strong Buy with an average target of $41.64, indicating a potential upside of 134.46%.

Financial Performance: Viridian Therapeutics reported a quarterly revenue of $86 thousand and a GAAP net loss of $76.69 million for the quarter ending September 30, compared to last year's revenue of $72 thousand and a net loss of $47.66 million.

Stock Performance Overview: VRDN's stock has a 52-week low of $11.40 and a high of $27.20, with the last trade recorded at $16.86.

Market Insights: The article mentions other stocks that have recently fallen below their 200-day moving average, indicating potential market trends.

Viridian Therapeutics' Progress: Viridian Therapeutics announced its key priorities for 2025, highlighting positive topline data for its lead product candidate, veligrotug, in treating thyroid eye disease (TED) and plans to submit a Biologics License Application (BLA) later this year. The company is also advancing VRDN-003, a subcutaneous treatment for TED, with expected data from ongoing trials in 2026.

FcRn Inhibitor Development: The company is developing a portfolio of FcRn inhibitors, including VRDN-006 and VRDN-008, aimed at treating autoimmune diseases, with proof-of-concept data anticipated in 2025. Additionally, Viridian appointed Seth Harmon as the new Chief Financial Officer and announced stock option grants to new employees.

US Bancorp Options Activity: US Bancorp (USB) has seen significant options trading with 37,661 contracts, equating to about 3.8 million shares, particularly highlighting the $40 strike call option expiring January 17, 2025, which has 6,083 contracts traded.

Wolfspeed Inc Options Activity: Wolfspeed Inc (WOLF) reported a trading volume of 54,482 options contracts, representing around 5.4 million shares, with notable activity in the $8 strike put option expiring January 16, 2026, totaling 31,835 contracts.

Analyst Downgrades: Several Wall Street analysts have downgraded their ratings on various stocks, including C3.ai, Viridian Therapeutics, NICE Ltd., European Wax Center, and Cabaletta Bio, with price targets adjusted downward for each company.

Market Context: The downgrades come amid a broader market decline, as indicated by the Dow dropping over 1,100 points, reflecting investor concerns following a hawkish stance from Federal Reserve Chairman Jerome Powell.

Trending Stocks Overview: TipRanks has identified the most-rated stocks in the past 72 hours, with Viridian Therapeutics (VRDN) leading at 11 ratings and a Strong Buy consensus, followed by Neurocrine (NBIX) and Nike (NKE), both receiving nine ratings each.

Smart Portfolio Tool: The TipRanks Smart Portfolio offers users insights into their stock holdings, including AI-generated explanations for stock movements and portfolio comparisons with top investors, enhancing data-driven investment decisions.

Fastest News Alerts: Benzinga Pro offers real-time intelligence and alerts to help traders stay informed and make winning trades in the stock market.

Exclusive Community: Joining Benzinga Pro connects users with over 10,000 serious traders and provides access to exclusive stories and accurate market intelligence.

Rivian Automotive Options Activity: Rivian Automotive Inc (RIVN) has seen significant options trading today, with 324,881 contracts representing about 32.5 million shares, notably including high volume for the $16 strike call option expiring December 20, 2024.

Viridian Therapeutics Options Activity: Viridian Therapeutics Inc (VRDN) also experienced notable options trading, with 7,719 contracts traded, particularly for the $22.50 strike put option expiring January 17, 2025, indicating strong market interest.

U.S. Stock Market Performance: U.S. stocks mostly rose, with the Nasdaq Composite increasing by about 1%, driven by significant gains in companies like Tesla, which saw a 5% rise after an upgraded price target from Wedbush.

Notable Stock Gains: Several stocks experienced substantial increases, including Akso Health Group (+59.6%), Quantum Computing Inc (+42.4%), and various Bitcoin-related stocks that surged following Bitcoin's all-time high.

Positive Clinical Trial Results: Veligrotug met all primary and secondary endpoints in the THRIVE-2 phase 3 trial for chronic thyroid eye disease (TED), showing significant improvements in proptosis and diplopia responder rates, with a well-tolerated safety profile.

Future Developments: The company plans to submit a Biologics License Application (BLA) for veligrotug in late 2025 and is also advancing another candidate, VRDN-003, with topline data expected in early 2026.

Clinical Trial Announcement: Viridian Therapeutics is set to host a conference call on December 16, 2024, to report topline data from the THRIVE-2 phase 3 clinical trial evaluating the efficacy and safety of veligrotug in patients with chronic thyroid eye disease (TED).

Company Overview: Viridian Therapeutics focuses on developing innovative medicines for serious diseases, currently advancing multiple candidates for TED treatment and exploring new therapies for autoimmune diseases.

Viridian Therapeutics Stock Performance: Viridian Therapeutics Inc (VRDN) shares have entered oversold territory with an RSI of 28.5, indicating potential exhaustion of recent selling pressure, as the stock trades around $17.44, significantly below its 52-week high of $27.20.

Market Comparison: In contrast, the S&P 500 ETF (SPY) has a current RSI of 57.9, suggesting that VRDN may present a buying opportunity for bullish investors looking for entry points amidst heavy selling.

Inducement Grants Announcement: Viridian Therapeutics approved the grant of non-qualified stock options for 391,500 shares to 10 new employees as an inducement for their employment, with vesting over four years starting from their respective start dates.

Focus on Rare Diseases: The company is advancing multiple clinical candidates for thyroid eye disease (TED) and developing a portfolio of neonatal Fc receptor inhibitors aimed at treating various autoimmune diseases.

Analyst Ratings Updates: Several Wall Street analysts have initiated coverage on various companies, including Constellation Brands (Neutral, $261 target), Viridian Therapeutics (Buy), Apogee Therapeutics (Buy, $89 target), and Arm Holdings (Buy, $160 target).

Negative Outlook: HC Wainwright & Co. analyst has given Sarepta Therapeutics a Sell rating with a price target of $80, despite its shares closing at $114.23.