Balyasny Asset Management L.P. Cuts Position in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Balyasny Asset Management L.P. cut its stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 61.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 130,721 shares of the company's stock after selling 208,368 shares during the period. Balyasny Asset Management L.P. owned about 0.17% of Viridian Therapeutics worth $2,506,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in Viridian Therapeutics in the fourth quarter worth $26,000. Foresite Capital Management VI LLC bought a new stake in Viridian Therapeutics in the fourth quarter worth $38,000. AlphaQuest LLC lifted its stake in Viridian Therapeutics by 119.0% in the fourth quarter. AlphaQuest LLC now owns 2,795 shares of the company's stock worth $54,000 after purchasing an additional 1,519 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in Viridian Therapeutics by 24.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,646 shares of the company's stock worth $147,000 after purchasing an additional 1,516 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in Viridian Therapeutics in the fourth quarter worth $164,000.

Analyst Upgrades and Downgrades

Several analysts have weighed in on VRDN shares. JMP Securities lowered their price target on shares of Viridian Therapeutics from $42.00 to $38.00 and set a "market outperform" rating for the company in a research note on Wednesday, May 7th. HC Wainwright reaffirmed a "buy" rating and set a $34.00 price objective on shares of Viridian Therapeutics in a research note on Wednesday, April 23rd. The Goldman Sachs Group lowered their price objective on shares of Viridian Therapeutics from $31.00 to $27.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Royal Bank of Canada lowered their price objective on shares of Viridian Therapeutics from $46.00 to $45.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Finally, Needham & Company LLC lowered their price objective on shares of Viridian Therapeutics from $38.00 to $36.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $36.70.

Viridian Therapeutics Trading Up 2.5%

VRDN stock traded up $0.32 during trading on Friday, reaching $12.94. The company had a trading volume of 597,678 shares, compared to its average volume of 1,195,828. Viridian Therapeutics, Inc. has a 52 week low of $9.90 and a 52 week high of $27.20. The company has a market cap of $1.06 billion, a P/E ratio of -3.00 and a beta of 0.57. The business has a 50 day moving average of $13.41 and a 200 day moving average of $17.10. The company has a debt-to-equity ratio of 0.04, a current ratio of 18.55 and a quick ratio of 18.55.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.87) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.95) by $0.08. The company had revenue of $0.07 million during the quarter, compared to the consensus estimate of $0.16 million. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. Viridian Therapeutics's revenue was up .0% on a year-over-year basis. As a group, sell-side analysts forecast that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current fiscal year.

About Viridian Therapeutics

Viridian Therapeutics, Inc, a biotechnology company, discover and develops treatments for serious and rare diseases. The company's product pipeline includes VRDN-001, a monoclonal antibody targeting insulin-like growth factor-1 receptor that is in Phase 3 clinical trial for the treatment of thyroid eye disease (TED); and VRDN-003, a next generation IGF-1R humanized monoclonal antibodies targeting IGF-1R and incorporating half-life extension technology for the treatment of TED.