ADAR1 Capital Management LLC Raises Stock Position in Viridian Therapeutics, Inc. $VRDN

Key Points

• ADAR1 Capital Management increased its Viridian Therapeutics position by 294.3% in the first quarter, owning 304,422 shares valued at approximately $5.95 million, or 0.30% of the company.
• Viridian reported a quarterly loss of $0.90 per share, beating the $1.06 consensus estimate, while revenue reached $140,000 and rose 95.8% year over year. The stock opened at $19.51, well below its 12-month high of $34.29.
• Analyst sentiment remains broadly positive, with 13 Buy ratings and one Sell rating and a consensus price target of $38.79. A company director also purchased nearly $20 million worth of shares in May.

ADAR1 Capital Management LLC lifted its position in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 294.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 304,422 shares of the company's stock after acquiring an additional 227,224 shares during the quarter. ADAR1 Capital Management LLC owned 0.30% of Viridian Therapeutics worth $5,954,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. ANTIPODES PARTNERS Ltd purchased a new position in Viridian Therapeutics in the fourth quarter worth $36,000. KBC Group NV acquired a new stake in Viridian Therapeutics in the first quarter worth about $34,000. Larson Financial Group LLC acquired a new stake in Viridian Therapeutics in the third quarter worth about $52,000. US Bancorp DE grew its stake in shares of Viridian Therapeutics by 23.2% during the third quarter. US Bancorp DE now owns 2,457 shares of the company's stock worth $53,000 after acquiring an additional 463 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of Viridian Therapeutics during the first quarter worth about $93,000.

Viridian Therapeutics Stock Down 1.0%

Shares of VRDN stock opened at $19.51 on Wednesday. Viridian Therapeutics, Inc. has a twelve month low of $13.18 and a twelve month high of $34.29. The stock has a market cap of $2.01 billion, a P/E ratio of -5.88 and a beta of 0.90. The stock has a 50 day moving average of $17.85 and a 200 day moving average of $22.25. The company has a current ratio of 15.15, a quick ratio of 15.15 and a debt-to-equity ratio of 0.10.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.90) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.16. The business had revenue of $0.14 million for the quarter, compared to analyst estimates of $0.04 million. Viridian Therapeutics had a negative return on equity of 80.19% and a negative net margin of 490.31%.The business's quarterly revenue was up 95.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.87) EPS. As a group, sell-side analysts expect that Viridian Therapeutics, Inc. will post -3.87 EPS for the current year.

Insider Transactions at Viridian Therapeutics

In other news, Director Fairmount Funds Management Llc purchased 1,176,470 shares of the company's stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $17.00 per share, for a total transaction of $19,999,990.00. Following the completion of the transaction, the director owned 5,090,928 shares in the company, valued at $86,545,776. This represents a 30.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.40% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on VRDN shares. Evercore set a $26.00 price target on shares of Viridian Therapeutics in a report on Friday, May 15th. Weiss Ratings lowered shares of Viridian Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, June 30th. Wedbush upped their target price on Viridian Therapeutics from $32.00 to $43.00 and gave the company an "outperform" rating in a research report on Tuesday, June 30th. HC Wainwright reduced their target price on Viridian Therapeutics from $34.00 to $22.00 and set a "buy" rating for the company in a research note on Tuesday, March 31st. Finally, Wells Fargo & Company upgraded Viridian Therapeutics from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $20.00 to $31.00 in a research note on Monday, June 29th. Thirteen 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.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $38.79.

Viridian Therapeutics Company Profile

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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