Algert Global LLC Sells 81,762 Shares of Viridian Therapeutics, Inc. $VRDN

Key Points

• Algert Global reduced its Viridian Therapeutics stake by 14.5%, selling 81,762 shares and retaining 482,237 shares valued at approximately $8.86 million.
• Viridian shares opened at $24.26, within a 12-month range of $13.18 to $34.29. The company reported a quarterly loss of $1.05 per share, slightly worse than analysts’ $1.03 estimate.
• Analyst sentiment remains broadly positive, with 12 Buy ratings and one Sell rating, producing a “Moderate Buy” consensus and an average price target of $38.54.

Algert Global LLC lowered its position in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 14.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 482,237 shares of the company's stock after selling 81,762 shares during the period. Algert Global LLC owned approximately 0.43% of Viridian Therapeutics worth $8,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently modified their holdings of VRDN. Merck & Co. Inc. purchased a new stake in shares of Viridian Therapeutics in the second quarter valued at approximately $1,716,015,000. Bank of America Corp DE raised its holdings in shares of Viridian Therapeutics by 17.5% during the 1st quarter. Bank of America Corp DE now owns 1,163,615 shares of the company's stock worth $22,760,000 after acquiring an additional 173,498 shares during the period. Blue Owl Capital Holdings LP purchased a new stake in shares of Viridian Therapeutics during the 2nd quarter valued at approximately $4,776,000. Rice Hall James & Associates LLC acquired a new position in Viridian Therapeutics in the second quarter valued at approximately $21,601,000. Finally, Perceptive Advisors LLC grew its position in Viridian Therapeutics by 108.1% in the fourth 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 period.

Viridian Therapeutics Stock Performance

NASDAQ:VRDN opened at $24.26 on Thursday. Viridian Therapeutics, Inc. has a twelve month low of $13.18 and a twelve month high of $34.29. The company has a market capitalization of $2.75 billion, a P/E ratio of -7.20 and a beta of 0.91. The firm has a 50-day moving average price of $20.29 and a two-hundred day moving average price of $20.77. The company has a current ratio of 16.95, a quick ratio of 16.95 and a debt-to-equity ratio of 0.43.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last issued its quarterly 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). Viridian Therapeutics had a negative return on equity of 72.97% and a negative net margin of 505.86%.The firm had revenue of $0.28 million for the quarter, compared to analysts' expectations of $0.06 million. As a group, research analysts expect that Viridian Therapeutics, Inc. will post -4.07 earnings per share for the current fiscal year.

Insider Transactions at Viridian Therapeutics

In other Viridian Therapeutics 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 transaction of $348,194.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.40% of the company's stock.

Analyst Ratings Changes

VRDN has been the topic of a number of research analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $32.00 target price on shares of Viridian Therapeutics in a research report on Monday, June 29th. Stifel Nicolaus set a $39.00 target price on Viridian Therapeutics in a research report on Wednesday, May 13th. Weiss Ratings downgraded Viridian Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, June 30th. Royal Bank Of Canada increased their price objective on Viridian Therapeutics from $35.00 to $36.00 and gave the stock an "outperform" rating in a research report on Friday, August 7th. Finally, Evercore set a $26.00 price objective on shares of Viridian Therapeutics in a research report on Friday, May 15th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Viridian Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $38.54.

Viridian Therapeutics 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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