Persistent Asset Partners Ltd Sells 9,179 Shares of Viridian Therapeutics, Inc. $VRDN

Persistent Asset Partners Ltd lessened its stake in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 24.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 28,032 shares of the company’s stock after selling 9,179 shares during the quarter. Persistent Asset Partners Ltd’s holdings in Viridian Therapeutics were worth $392,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd bought a new position in shares of Viridian Therapeutics during the 2nd quarter valued at approximately $170,000. Creative Planning bought a new stake in shares of Viridian Therapeutics in the 2nd quarter worth approximately $179,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Viridian Therapeutics in the second quarter valued at approximately $180,000. EntryPoint Capital LLC bought a new position in Viridian Therapeutics during the first quarter valued at $185,000. Finally, Envestnet Asset Management Inc. purchased a new stake in Viridian Therapeutics in the second quarter worth $187,000.

Viridian Therapeutics Stock Up 1.0%

VRDN stock opened at $28.77 on Friday. The stock has a 50-day simple moving average of $22.26 and a two-hundred day simple moving average of $18.06. Viridian Therapeutics, Inc. has a twelve month low of $9.90 and a twelve month high of $29.27. The firm has a market capitalization of $2.75 billion, a PE ratio of -7.51 and a beta of 0.72. The company has a quick ratio of 11.01, a current ratio of 11.01 and a debt-to-equity ratio of 0.04.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.48. The company had revenue of $70.57 million during the quarter, compared to analyst estimates of $16.21 million. Viridian Therapeutics had a negative net margin of 112,806.88% and a negative return on equity of 78.95%. The firm’s revenue for the quarter was up 81993.0% compared to the same quarter last year. On average, equities analysts predict that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Fairmount Funds Management Llc purchased 454,545 shares of Viridian Therapeutics stock in a transaction dated Thursday, October 23rd. The stock was purchased at an average cost of $22.00 per share, for a total transaction of $9,999,990.00. Following the transaction, the director directly owned 3,914,458 shares of the company’s stock, valued at approximately $86,118,076. This trade represents a 13.14% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.58% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on VRDN. Royal Bank Of Canada upped their price target on Viridian Therapeutics from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. The Goldman Sachs Group restated a “buy” rating and issued a $40.00 price objective on shares of Viridian Therapeutics in a research note on Thursday, November 6th. BTIG Research reiterated a “buy” rating and set a $61.00 target price on shares of Viridian Therapeutics in a research report on Tuesday, November 4th. Needham & Company LLC reduced their target price on shares of Viridian Therapeutics from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Viridian Therapeutics in a research note on Wednesday, October 8th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Viridian Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $39.78.

Viridian Therapeutics 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.