Vivo Capital LLC Decreases Holdings in Viridian Therapeutics, Inc. $VRDN

Vivo Capital LLC lowered its holdings in Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 83.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 166,288 shares of the company’s stock after selling 816,288 shares during the quarter. Vivo Capital LLC’s holdings in Viridian Therapeutics were worth $3,253,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Viridian Therapeutics by 1.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company’s stock valued at $669,000 after purchasing an additional 876 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings 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 worth $16,595,000 after purchasing an additional 310,998 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings 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 worth $1,760,000 after purchasing an additional 14,788 shares in the last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of Viridian Therapeutics during the 2nd quarter worth approximately $187,000. Finally, Creative Planning purchased a new stake in shares of Viridian Therapeutics during the 2nd quarter worth approximately $179,000.

Insiders Place Their Bets

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc acquired 1,176,470 shares of the stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $17.00 per share, with a total value of $19,999,990.00. Following the transaction, the director owned 5,090,928 shares of the company’s stock, valued at approximately $86,545,776. This trade represents a 30.05% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.40% of the stock is currently owned by corporate insiders.

Viridian Therapeutics Price Performance

VRDN stock opened at $19.90 on Friday. The company has a market capitalization of $2.05 billion, a P/E ratio of -5.99 and a beta of 0.90. Viridian Therapeutics, Inc. has a twelve month low of $13.18 and a twelve month high of $34.29. The business has a 50 day simple moving average of $17.93 and a 200-day simple moving average of $22.09. The company has a current ratio of 15.15, a quick ratio of 15.15 and a debt-to-equity ratio of 0.10.

Viridian Therapeutics (NASDAQ:VRDN) last announced its earnings results on Tuesday, May 5th. The company reported ($0.90) EPS for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.16. Viridian Therapeutics had a negative net margin of 490.31% and a negative return on equity of 80.19%. The business had revenue of $0.14 million for the quarter, compared to analysts’ expectations of $0.04 million. During the same period in the previous year, the company posted ($0.87) EPS. The company’s quarterly revenue was up 95.8% on a year-over-year basis. As a group, equities analysts anticipate that Viridian Therapeutics, Inc. will post -3.87 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Wall Street Zen raised shares of Viridian Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Monday, July 20th. The Goldman Sachs Group reissued a “buy” rating and issued a $39.00 price target on shares of Viridian Therapeutics in a research report on Tuesday, June 30th. Wedbush upped their price objective on shares of Viridian Therapeutics from $32.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, June 30th. Weiss Ratings lowered Viridian Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 30th. Finally, Evercore set a $26.00 price objective on Viridian Therapeutics in a report on Friday, May 15th. Thirteen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.79.

Viridian Therapeutics 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.