1,175,906 Shares in Viridian Therapeutics, Inc. $VRDN Bought by Rice Hall James & Associates LLC

Key Points

• Rice Hall James & Associates acquired 1,175,906 Viridian Therapeutics shares worth approximately $21.6 million, giving it a 1.14% stake and making VRDN its 29th-largest portfolio holding.
• Viridian shares traded up 4.6% to $23.09, despite the company reporting a quarterly EPS loss of $1.05 that narrowly missed analysts’ expectations.
• Analyst sentiment remains favorable, with 13 Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $38.93.

Rice Hall James & Associates LLC bought a new stake in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,175,906 shares of the company's stock, valued at approximately $21,601,000. Viridian Therapeutics makes up approximately 1.1% of Rice Hall James & Associates LLC's portfolio, making the stock its 29th largest position. Rice Hall James & Associates LLC owned 1.14% of Viridian Therapeutics at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Perceptive Advisors LLC lifted its holdings in shares of Viridian Therapeutics by 108.1% in the 4th quarter. Perceptive Advisors LLC now owns 3,042,703 shares of the company's stock worth $94,689,000 after acquiring an additional 1,580,303 shares during the last quarter. Morgan Stanley grew its position in shares of Viridian Therapeutics by 805.6% during the 4th quarter. Morgan Stanley now owns 1,738,225 shares of the company's stock worth $54,094,000 after buying an additional 1,546,284 shares in the last quarter. Avoro Capital Advisors LLC bought a new position in shares of Viridian Therapeutics during the fourth quarter valued at approximately $46,680,000. Vanguard Group Inc. increased its holdings in shares of Viridian Therapeutics by 29.6% in the 4th quarter. Vanguard Group Inc. now owns 5,612,144 shares of the company's stock valued at $174,650,000 after acquiring an additional 1,280,161 shares during the period. Finally, Commodore Capital LP grew its stake in Viridian Therapeutics by 35.4% in the second quarter. Commodore Capital LP now owns 4,875,000 shares of the company's stock valued at $68,152,000 after purchasing an additional 1,275,000 shares during the last quarter.

Viridian Therapeutics Trading Up 4.6%

NASDAQ:VRDN opened at $23.09 on Tuesday. The stock's 50 day moving average price is $19.16 and its 200 day moving average price is $21.16. Viridian Therapeutics, Inc. has a 52-week low of $13.18 and a 52-week high of $34.29. The company has a quick ratio of 16.95, a current ratio of 16.95 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $2.62 billion, a PE ratio of -6.85 and a beta of 0.91.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($0.02). Viridian Therapeutics had a negative return on equity of 72.97% and a negative net margin of 505.86%.The business had revenue of $0.28 million during the quarter, compared to analysts' expectations of $0.06 million. On average, research analysts anticipate that Viridian Therapeutics, Inc. will post -4.07 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on VRDN shares. Truist Financial increased their price target on Viridian Therapeutics from $38.00 to $39.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Needham & Company LLC reaffirmed a "buy" rating and set a $32.00 target price on shares of Viridian Therapeutics in a report on Monday, June 29th. Wells Fargo & Company raised Viridian Therapeutics from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $20.00 to $31.00 in a report on Monday, June 29th. Evercore set a $26.00 price objective on shares of Viridian Therapeutics in a report on Friday, May 15th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $39.00 price target on shares of Viridian Therapeutics in a research note on Tuesday, June 30th. Thirteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $38.93.

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.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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