Commodore Capital LP Cuts Stake in Viridian Therapeutics, Inc. $VRDN

Commodore Capital LP reduced its holdings in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 34.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,200,000 shares of the company’s stock after selling 1,675,000 shares during the period. Viridian Therapeutics comprises approximately 3.4% of Commodore Capital LP’s portfolio, making the stock its 12th biggest holding. Commodore Capital LP owned about 3.35% of Viridian Therapeutics worth $69,056,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new position in shares of Viridian Therapeutics during the 3rd quarter valued at $35,000. Farther Finance Advisors LLC boosted its position in Viridian Therapeutics by 332.1% during the third quarter. Farther Finance Advisors LLC now owns 1,940 shares of the company’s stock valued at $42,000 after buying an additional 1,491 shares during the period. Bessemer Group Inc. grew its stake in shares of Viridian Therapeutics by 947.7% during the third quarter. Bessemer Group Inc. now owns 2,085 shares of the company’s stock valued at $45,000 after buying an additional 1,886 shares during the last quarter. US Bancorp DE increased its holdings in shares of Viridian Therapeutics by 23.2% in the third quarter. US Bancorp DE now owns 2,457 shares of the company’s stock worth $53,000 after buying an additional 463 shares during the period. Finally, Clearstead Advisors LLC lifted its stake in shares of Viridian Therapeutics by 3,868.3% in the 3rd quarter. Clearstead Advisors LLC now owns 5,000 shares of the company’s stock valued at $108,000 after acquiring an additional 4,874 shares during the last quarter.

Insider Buying and Selling at Viridian Therapeutics

In other news, insider Jennifer Tousignant sold 2,272 shares of the company’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $31.16, for a total value of $70,795.52. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.58% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have commented on VRDN shares. Royal Bank Of Canada decreased their price target on Viridian Therapeutics from $45.00 to $42.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. UBS Group initiated coverage on shares of Viridian Therapeutics in a report on Wednesday, January 7th. They set a “buy” rating and a $50.00 price target for the company. Wall Street Zen cut shares of Viridian Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viridian Therapeutics in a report on Wednesday, January 21st. Finally, Evercore restated an “outperform” rating and set a $44.00 price target on shares of Viridian Therapeutics in a report on Tuesday, January 20th. Thirteen investment 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.21.

Viridian Therapeutics Trading Up 1.0%

NASDAQ:VRDN opened at $28.68 on Friday. The company has a 50-day moving average price of $30.51 and a 200-day moving average price of $27.21. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of -8.72 and a beta of 1.00. The company has a current ratio of 12.65, a quick ratio of 12.65 and a debt-to-equity ratio of 0.08. Viridian Therapeutics, Inc. has a 12 month low of $9.90 and a 12 month high of $34.29.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings results on Thursday, February 26th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.18). The company had revenue of $0.13 million during the quarter, compared to the consensus estimate of $15.75 million. Viridian Therapeutics had a negative return on equity of 83.25% and a negative net margin of 483.57%. Equities analysts predict that Viridian Therapeutics, Inc. will post -4.03 EPS for the current year.

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.