Propel Bio Management LLC Makes New Investment in Viridian Therapeutics, Inc. $VRDN

Propel Bio Management LLC acquired a new stake in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 90,000 shares of the company’s stock, valued at approximately $1,942,000. Viridian Therapeutics comprises approximately 1.9% of Propel Bio Management LLC’s holdings, making the stock its 15th biggest position. Propel Bio Management LLC owned 0.09% of Viridian Therapeutics at the end of the most recent reporting period.

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

Analysts Set New Price Targets

VRDN has been the subject of a number of analyst reports. Wells Fargo & Company increased their price target on Viridian Therapeutics from $26.00 to $29.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 3rd. Royal Bank Of Canada reduced their target price on shares of Viridian Therapeutics from $45.00 to $42.00 and set an “outperform” rating for the company in a research note on Friday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $42.00 target price on shares of Viridian Therapeutics in a report on Wednesday, February 4th. Wedbush boosted their price target on shares of Viridian Therapeutics from $42.00 to $47.00 and gave the stock an “outperform” rating in a report on Wednesday, December 10th. Finally, Evercore reaffirmed an “outperform” rating and issued a $44.00 price objective on shares of Viridian Therapeutics in a research report on Tuesday, January 20th. Thirteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Viridian Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $42.43.

Insider Activity

In other news, insider Jennifer Tousignant sold 2,272 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $31.16, for a total value of $70,795.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.58% of the stock is currently owned by company insiders.

Viridian Therapeutics Price Performance

Shares of NASDAQ:VRDN opened at $30.39 on Thursday. The company has a market capitalization of $3.11 billion, a P/E ratio of -9.24 and a beta of 1.00. The company’s 50-day moving average is $30.88 and its 200 day moving average is $26.70. The company has a debt-to-equity ratio of 0.08, a quick ratio of 12.65 and a current ratio of 12.65. Viridian Therapeutics, Inc. has a fifty-two week low of $9.90 and a fifty-two week high of $34.29.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings data 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). Viridian Therapeutics had a negative return on equity of 83.25% and a negative net margin of 483.57%.The company had revenue of $0.13 million for the quarter, compared to analysts’ expectations of $15.75 million. On average, equities research analysts forecast that Viridian Therapeutics, Inc. will post -4.03 earnings per share 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.