Handelsbanken Fonder AB Invests $834,000 in Viridian Therapeutics, Inc. $VRDN

Handelsbanken Fonder AB acquired a new stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 45,400 shares of the company’s stock, valued at approximately $834,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. KBC Group NV acquired a new position in Viridian Therapeutics during the 1st quarter valued at $34,000. ANTIPODES PARTNERS Ltd acquired a new stake in Viridian Therapeutics in the 4th quarter worth $36,000. Larson Financial Group LLC acquired a new stake in Viridian Therapeutics in the 3rd quarter worth $52,000. US Bancorp DE increased its holdings in shares of Viridian Therapeutics by 23.2% during the 3rd quarter. US Bancorp DE now owns 2,457 shares of the company’s stock worth $53,000 after purchasing an additional 463 shares during the period. Finally, State of Wyoming bought a new position in shares of Viridian Therapeutics during the 1st quarter worth about $93,000.

Analysts Set New Price Targets

VRDN has been the subject of several research reports. Stifel Nicolaus set a $39.00 target price on shares of Viridian Therapeutics in a research note on Wednesday, May 13th. Wells Fargo & Company raised Viridian Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $20.00 to $31.00 in a report on Monday, June 29th. Wall Street Zen cut Viridian Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. Wedbush raised their price objective on Viridian Therapeutics from $32.00 to $43.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 30th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $39.00 price objective on shares of Viridian Therapeutics in a report on Tuesday, June 30th. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $38.93.

Viridian Therapeutics Stock Performance

NASDAQ:VRDN opened at $24.80 on Thursday. The firm has a market capitalization of $2.81 billion, a PE ratio of -7.36 and a beta of 0.91. The company has a quick ratio of 16.95, a current ratio of 16.95 and a debt-to-equity ratio of 0.43. Viridian Therapeutics, Inc. has a 12-month low of $13.18 and a 12-month high of $34.29. The firm has a 50-day moving average price of $19.49 and a 200 day moving average price of $21.03.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings data on Thursday, August 6th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.02). Viridian Therapeutics had a negative net margin of 505.86% and a negative return on equity of 72.97%. The company had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.06 million. Research analysts anticipate that Viridian Therapeutics, Inc. will post -4.07 earnings per share for the current fiscal year.

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.