Perceptive Advisors LLC boosted its stake in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN – Free Report) by 108.1% in the 4th quarter, Holdings Channel reports. The fund owned 3,042,703 shares of the company’s stock after buying an additional 1,580,303 shares during the period. Viridian Therapeutics makes up 1.7% of Perceptive Advisors LLC’s investment portfolio, making the stock its 17th largest position. Perceptive Advisors LLC’s holdings in Viridian Therapeutics were worth $94,689,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of VRDN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Viridian Therapeutics by 1.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company’s stock valued at $669,000 after acquiring an additional 876 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Viridian Therapeutics by 33.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,231,092 shares of the company’s stock valued at $16,595,000 after acquiring an additional 310,998 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Viridian Therapeutics by 12.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 130,570 shares of the company’s stock valued at $1,760,000 after acquiring an additional 14,788 shares in the last quarter. Envestnet Asset Management Inc. purchased a new position in Viridian Therapeutics during the second quarter valued at approximately $187,000. Finally, Creative Planning purchased a new position in Viridian Therapeutics during the second quarter valued at approximately $179,000.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the company. Evercore set a $26.00 price target on Viridian Therapeutics in a research report on Friday, May 15th. Wall Street Zen upgraded Viridian Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday. Wedbush cut their price objective on Viridian Therapeutics from $37.00 to $31.00 and set an “outperform” rating for the company in a research report on Wednesday, April 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Viridian Therapeutics in a research report on Monday, April 20th. Finally, HC Wainwright cut their price objective on Viridian Therapeutics from $34.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday, March 31st. Twelve investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.14.
Viridian Therapeutics Stock Up 4.6%
Viridian Therapeutics stock opened at $16.71 on Thursday. The stock has a market capitalization of $1.72 billion, a PE ratio of -5.03 and a beta of 0.90. Viridian Therapeutics, Inc. has a 12 month low of $13.18 and a 12 month high of $34.29. The business has a 50 day simple moving average of $15.91 and a 200-day simple moving average of $24.92. 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 (NASDAQ:VRDN – Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.90) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.16. The firm had revenue of $0.14 million for the quarter, compared to analyst estimates of $0.04 million. Viridian Therapeutics had a negative return on equity of 80.19% and a negative net margin of 490.31%.The business’s revenue was up 95.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.87) earnings per share. On average, analysts anticipate that Viridian Therapeutics, Inc. will post -3.87 EPS for the current fiscal year.
Insider Activity
In other news, Director Fairmount Funds Management Llc purchased 1,176,470 shares of the stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $17.00 per share, with a total value of $19,999,990.00. Following the completion of the purchase, the director directly owned 5,090,928 shares of the company’s stock, valued at approximately $86,545,776. The trade was a 30.05% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.40% of the stock is owned by corporate insiders.
Viridian Therapeutics Company Profile
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.
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