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

Balyasny Asset Management L.P. cut its position in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 61.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,721 shares of the company's stock after selling 208,368 shares during the quarter. Balyasny Asset Management L.P. owned 0.17% of Viridian Therapeutics worth $2,506,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of VRDN. Barclays PLC grew its position in Viridian Therapeutics by 113.1% in the 3rd quarter. Barclays PLC now owns 125,397 shares of the company's stock valued at $2,851,000 after acquiring an additional 66,550 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Viridian Therapeutics by 218.5% during the third quarter. JPMorgan Chase & Co. now owns 400,351 shares of the company's stock worth $9,108,000 after buying an additional 274,641 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of Viridian Therapeutics by 6.8% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 210,899 shares of the company's stock worth $4,043,000 after buying an additional 13,498 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Viridian Therapeutics by 89.1% during the fourth quarter. SG Americas Securities LLC now owns 31,085 shares of the company's stock worth $596,000 after buying an additional 14,644 shares during the period. Finally, Moody Aldrich Partners LLC acquired a new stake in Viridian Therapeutics in the fourth quarter valued at approximately $1,125,000.

Viridian Therapeutics Stock Performance

NASDAQ VRDN traded up $0.32 on Friday, reaching $12.94. The stock had a trading volume of 597,678 shares, compared to its average volume of 1,193,928. The stock has a market cap of $1.06 billion, a P/E ratio of -3.00 and a beta of 0.57. Viridian Therapeutics, Inc. has a 12-month low of $9.90 and a 12-month high of $27.20. The business's 50-day moving average price is $13.47 and its 200 day moving average price is $17.24. The company has a debt-to-equity ratio of 0.04, a quick ratio of 18.55 and a current ratio of 18.55.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($0.87) EPS for the quarter, beating analysts' consensus estimates of ($0.95) by $0.08. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. The business had revenue of $0.07 million for the quarter, compared to analysts' expectations of $0.16 million. The firm's revenue was up .0% compared to the same quarter last year. As a group, equities analysts expect that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current year.

Analysts Set New Price Targets

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

Viridian Therapeutics Company Profile

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.