SEB Asset Management AB Makes New $3.07 Million Investment in Viridian Therapeutics, Inc. $VRDN

SEB Asset Management AB purchased a new stake in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) in the first quarter, HoldingsChannel reports. The firm purchased 156,957 shares of the company’s stock, valued at approximately $3,070,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. ANTIPODES PARTNERS Ltd purchased a new position in shares of Viridian Therapeutics during the 4th quarter worth approximately $36,000. Larson Financial Group LLC acquired a new stake in Viridian Therapeutics in the 3rd quarter valued at approximately $52,000. US Bancorp DE raised its position in 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 during the period. Sei Investments Co. acquired a new position in Viridian Therapeutics during the second quarter worth $147,000. Finally, Persistent Asset Partners Ltd acquired a new position in Viridian Therapeutics during the fourth quarter worth $176,000.

Insider Buying and Selling

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

Viridian Therapeutics Stock Up 0.5%

Shares of Viridian Therapeutics stock opened at $19.26 on Friday. The company has a quick ratio of 15.15, a current ratio of 15.15 and a debt-to-equity ratio of 0.10. Viridian Therapeutics, Inc. has a 52-week low of $13.18 and a 52-week high of $34.29. The company has a market capitalization of $1.99 billion, a P/E ratio of -5.80 and a beta of 0.90. The company has a 50 day moving average of $17.65 and a 200 day moving average of $22.48.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.90) EPS for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.16. The business had revenue of $0.14 million for the quarter, compared to the consensus estimate 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 for the quarter was up 95.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.87) EPS. As a group, research analysts forecast that Viridian Therapeutics, Inc. will post -3.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on VRDN. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Viridian Therapeutics in a research note on Tuesday, June 30th. Truist Financial increased their target price on Viridian Therapeutics from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Wells Fargo & Company upgraded Viridian Therapeutics from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $20.00 to $31.00 in a report on Monday, June 29th. Wall Street Zen raised Viridian Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Monday. Finally, HC Wainwright cut their price target on shares of Viridian Therapeutics from $34.00 to $22.00 and set a “buy” rating on the stock in a research note on Tuesday, March 31st. Thirteen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.