180,892 Viridian Therapeutics, Inc. $VRDN Shares Sold by Candriam S.C.A.

Key Points

• Candriam S.C.A. cut its Viridian Therapeutics position by 10.6%, selling 180,892 shares in the third quarter; it still held 1.53 million shares, valued at about $31.6 million.
• Viridian reported a quarterly loss of $0.81 per share, narrower than the $1.02 loss analysts expected, and revenue of $25.75 million versus $4.72 million expected.
• Analyst sentiment is broadly positive, with a “Moderate Buy” consensus and an average $41 price target. The company is also due to present Phase 1 results for VRDN-008 and FcRn portfolio plans on November 9.

Candriam S.C.A. trimmed its position in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 10.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,526,806 shares of the company's stock after selling 180,892 shares during the period. Candriam S.C.A. owned approximately 1.35% of Viridian Therapeutics worth $31,552,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. KBC Group NV acquired a new position in shares of Viridian Therapeutics in the 1st quarter valued at approximately $34,000. Integrated Wealth Concepts LLC bought a new stake in shares of Viridian Therapeutics during the 2nd quarter worth approximately $33,000. State of Wyoming acquired a new stake in shares of Viridian Therapeutics during the 2nd quarter worth approximately $43,000. AlphaCentric Advisors LLC acquired a new stake in shares of Viridian Therapeutics during the 3rd quarter worth approximately $216,000. Finally, Man Group plc acquired a new stake in shares of Viridian Therapeutics during the 2nd quarter worth approximately $197,000.

Insider Activity at Viridian Therapeutics

In related news, insider Jennifer Tousignant sold 14,212 shares of the firm's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $24.50, for a total transaction of $348,194.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.40% of the company's stock.

Key Stories Impacting Viridian Therapeutics

Here are the key news stories impacting Viridian Therapeutics this week:

• Positive Sentiment: Viridian reported a third-quarter loss of $0.81 per share, narrower than analysts’ roughly $1.02-per-share estimate. The earnings beat, alongside optimism around the Lumvoa launch, has supported investor interest. Viridian Therapeutics Stock Rises 5% Despite Wider Q3 Loss
• Positive Sentiment: Analysts raised targets and maintained bullish ratings. Recent increases include Leerink Partners to $54, RBC to $41, Truist to $42, Wells Fargo to $34, Wedbush to $42 and HC Wainwright to $40. Zacks also noted a positive trend in earnings estimate revisions, though price targets are not guarantees. Zacks analyst outlook
• Neutral Sentiment: The company will present Phase 1 results for VRDN-008 and outline plans for its FcRn portfolio on November 9. The data and development plans could provide meaningful signals about the pipeline, but the outcome is not yet known. VRDN-008 conference call announcement

Viridian Therapeutics Price Performance

Shares of NASDAQ:VRDN opened at $28.49 on Monday. Viridian Therapeutics, Inc. has a one year low of $13.18 and a one year high of $34.29. The company has a debt-to-equity ratio of 0.50, a current ratio of 14.46 and a quick ratio of 14.46. The company has a market cap of $3.24 billion, a price-to-earnings ratio of -7.42 and a beta of 1.07. The firm has a 50 day simple moving average of $21.97 and a 200 day simple moving average of $21.81.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last posted its earnings results on Wednesday, November 4th. The company reported ($0.81) earnings per share for the quarter, topping analysts' consensus estimates of ($1.02) by $0.21. The firm had revenue of $25.75 million for the quarter, compared to analysts' expectations of $4.72 million. Viridian Therapeutics had a negative net margin of 1,620.79% and a negative return on equity of 79.67%. Research analysts predict that Viridian Therapeutics, Inc. will post -3.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

VRDN has been the topic of a number of recent analyst reports. Weiss Ratings raised shares of Viridian Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, September 14th. HC Wainwright boosted their price objective on shares of Viridian Therapeutics from $22.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday. Wedbush upped their target price on Viridian Therapeutics from $41.00 to $42.00 and gave the stock an "outperform" rating in a research note on Thursday. Wall Street Zen raised Viridian Therapeutics from a "strong sell" rating to a "hold" rating in a report on Saturday. Finally, Leerink Partners raised their target price on Viridian Therapeutics from $50.00 to $54.00 and gave the company an "outperform" rating in a report on Thursday. Eleven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $41.00.

Viridian Therapeutics Profile

Viridian Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious autoimmune diseases. The company's lead research area is thyroid eye disease (TED), a debilitating condition that can cause eye inflammation, swelling, pain and vision-related complications.

Viridian's pipeline is centered on antibodies designed to inhibit the insulin-like growth factor-1 receptor (IGF-1R), a target associated with TED. Its investigational therapies include veligrotug (VRDN-001), an intravenous treatment candidate, and VRDN-003, a subcutaneous formulation being developed to provide a more convenient administration option.

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