ADAR1 Capital Management LLC Acquires 53,000 Shares of Viridian Therapeutics, Inc. $VRDN

Key Points

• ADAR1 Capital Management LLC has increased its holdings in Viridian Therapeutics by 203.8%, acquiring an additional 53,000 shares and resulting in a total of 79,000 shares worth approximately $1.07 million.
• Viridian Therapeutics has received multiple buy ratings from analysts, with a current average target price of $37.78, reflecting positive sentiment towards the company.
• The company's stock is currently trading at $18.38, with a 52-week range of $9.90 to $27.20, indicating some volatility in its pricing.

ADAR1 Capital Management LLC boosted its stake in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 203.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 79,000 shares of the company's stock after buying an additional 53,000 shares during the period. ADAR1 Capital Management LLC owned approximately 0.10% of Viridian Therapeutics worth $1,065,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Amalgamated Bank raised its position in Viridian Therapeutics by 49.7% in the 1st quarter. Amalgamated Bank now owns 2,531 shares of the company's stock valued at $34,000 after buying an additional 840 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of Viridian Therapeutics by 198.2% during the 4th quarter. Nuveen Asset Management LLC now owns 681,012 shares of the company's stock worth $13,055,000 after purchasing an additional 452,627 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Viridian Therapeutics by 17.0% during the 1st quarter. Principal Financial Group Inc. now owns 208,836 shares of the company's stock worth $2,815,000 after purchasing an additional 30,392 shares in the last quarter. Rhumbline Advisers increased its position in Viridian Therapeutics by 4.6% during the first quarter. Rhumbline Advisers now owns 104,559 shares of the company's stock worth $1,409,000 after buying an additional 4,621 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Viridian Therapeutics by 29.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 115,782 shares of the company's stock worth $2,220,000 after buying an additional 26,286 shares during the last quarter.

Viridian Therapeutics Trading Up 0.4%

Shares of VRDN stock traded up $0.08 during trading hours on Friday, hitting $18.72. 799,775 shares of the company's stock traded hands, compared to its average volume of 854,916. The stock has a market cap of $1.53 billion, a PE ratio of -4.89 and a beta of 0.53. Viridian Therapeutics, Inc. has a 12 month low of $9.90 and a 12 month high of $27.20. The company has a quick ratio of 11.01, a current ratio of 11.01 and a debt-to-equity ratio of 0.04. The stock's 50 day simple moving average is $17.37 and its 200 day simple moving average is $15.22.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($1.00) earnings per share for the quarter, hitting analysts' consensus estimates of ($1.00). Viridian Therapeutics had a negative return on equity of 78.95% and a negative net margin of 112,806.88%.The business had revenue of $0.08 million for the quarter, compared to the consensus estimate of $0.05 million. During the same period in the prior year, the business earned ($0.81) EPS. The firm's revenue for the quarter was up 4.2% on a year-over-year basis. On average, sell-side analysts anticipate that Viridian Therapeutics, Inc. will post -4.03 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on VRDN shares. Jefferies Financial Group began coverage on shares of Viridian Therapeutics in a research note on Monday, August 25th. They issued a "buy" rating and a $44.00 price objective for the company. Needham & Company LLC reduced their target price on Viridian Therapeutics from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. The Goldman Sachs Group boosted their price target on Viridian Therapeutics from $27.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Royal Bank Of Canada reduced their price objective on shares of Viridian Therapeutics from $45.00 to $41.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Finally, Oppenheimer boosted their target price on shares of Viridian Therapeutics from $28.00 to $32.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $37.78.

Viridian Therapeutics 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.