268,060 Shares in Viridian Therapeutics, Inc. $VRDN Acquired by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 268,060 shares of Viridian Therapeutics valued at approximately $4.9 million, representing about 0.26% of the company. Several other institutional investors also initiated or expanded positions.
• Analysts remain broadly positive: 12 rate VRDN a Buy and one rates it a Sell, producing a consensus “Moderate Buy” rating and an average price target of $38.54.
• Viridian reported a quarterly loss of $1.05 per share, slightly worse than the $1.03 consensus estimate, while revenue of $0.28 million exceeded expectations. The clinical-stage biotech is developing antibody treatments for rare diseases, including thyroid eye disease.

Bank of New York Mellon Corp acquired a new position in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 268,060 shares of the company's stock, valued at approximately $4,924,000. Bank of New York Mellon Corp owned about 0.26% of Viridian Therapeutics as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. ANTIPODES PARTNERS Ltd acquired a new stake in Viridian Therapeutics during the fourth quarter worth approximately $36,000. KBC Group NV bought a new position in shares of Viridian Therapeutics in the first quarter valued at $34,000. State of Wyoming bought a new position in Viridian Therapeutics in the 2nd quarter valued at about $43,000. Larson Financial Group LLC bought a new stake in Viridian Therapeutics during the third quarter worth $52,000. Finally, US Bancorp DE grew its stake in shares of Viridian Therapeutics by 23.2% in the 3rd quarter. US Bancorp DE now owns 2,457 shares of the company's stock worth $53,000 after acquiring an additional 463 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on VRDN. Truist Financial boosted their target price on shares of 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 reiterated a "buy" rating and issued a $32.00 price objective on shares of Viridian Therapeutics in a report on Monday, June 29th. Evercore set a $26.00 price objective on Viridian Therapeutics in a research report on Friday, May 15th. Weiss Ratings cut shares of Viridian Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, June 30th. Finally, Royal Bank Of Canada upped their price target on shares of Viridian Therapeutics from $35.00 to $36.00 and gave the stock an "outperform" rating in a research note on Friday, August 7th. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Viridian Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.54.

Insider Buying and Selling at Viridian Therapeutics

In other news, insider Jennifer Tousignant sold 14,212 shares of the company's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $24.50, for a total value of $348,194.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.40% of the company's stock.

Viridian Therapeutics Stock Down 0.2%

NASDAQ:VRDN opened at $22.92 on Friday. The firm has a market cap of $2.60 billion, a PE ratio of -6.80 and a beta of 0.97. The company has a 50-day moving average of $21.11 and a 200 day moving average of $20.53. The company has a debt-to-equity ratio of 0.43, a current ratio of 16.95 and a quick ratio of 16.95. Viridian Therapeutics, Inc. has a 1-year low of $13.18 and a 1-year high of $34.29.

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

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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