Alps Advisors Inc. Acquires 38,506 Shares of Viridian Therapeutics, Inc. $VRDN

Key Points

• Alps Advisors increased its Viridian Therapeutics stake by 34.5% in the third quarter, adding 38,506 shares to hold 150,078 shares valued at about $3.09 million.
• Viridian reported quarterly revenue of $25.75 million, above the $4.72 million analyst consensus, and a loss of $0.81 per share—narrower than the expected $1.02 loss.
• Analyst sentiment was broadly positive: 11 analysts rated the stock a Buy and one a Sell, with a consensus “Moderate Buy” rating and a $41 average price target.

Alps Advisors Inc. lifted its stake in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 34.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,078 shares of the company's stock after buying an additional 38,506 shares during the quarter. Alps Advisors Inc. owned approximately 0.13% of Viridian Therapeutics worth $3,090,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in VRDN. ProShare Advisors LLC lifted its holdings in Viridian Therapeutics by 6.6% during the 3rd quarter. ProShare Advisors LLC now owns 12,609 shares of the company's stock worth $260,000 after buying an additional 784 shares during the last quarter. AMI Asset Management Corp bought a new stake in Viridian Therapeutics during the third quarter valued at $1,029,000. Integrated Wealth Concepts LLC bought a new stake in Viridian Therapeutics during the second quarter valued at $33,000. Squarepoint Ops LLC raised its holdings in shares of Viridian Therapeutics by 303.0% during the second quarter. Squarepoint Ops LLC now owns 176,955 shares of the company's stock worth $3,251,000 after purchasing an additional 133,046 shares during the period. Finally, Arizona State Retirement System raised its holdings in shares of Viridian Therapeutics by 19.2% during the second quarter. Arizona State Retirement System now owns 21,330 shares of the company's stock worth $392,000 after purchasing an additional 3,431 shares during the period.

Viridian Therapeutics Stock Up 6.0%

VRDN opened at $30.19 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 16.95 and a current ratio of 16.95. The company has a market capitalization of $3.42 billion, a PE ratio of -7.86 and a beta of 1.07. The stock's fifty day moving average is $22.12 and its 200-day moving average is $21.80. Viridian Therapeutics, Inc. has a one year low of $13.18 and a one year high of $34.29.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last announced its earnings results on Wednesday, November 4th. The company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($1.02) by $0.21. Viridian Therapeutics had a negative return on equity of 77.15% and a negative net margin of 1,620.79%. The business had revenue of $25.75 million during the quarter, compared to analysts' expectations of $4.72 million. On average, equities analysts predict that Viridian Therapeutics, Inc. will post -3.64 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on VRDN shares. Wall Street Zen upgraded shares of Viridian Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Saturday. Weiss Ratings raised shares of Viridian Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research report 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, November 5th. Leerink Partners increased their price objective on shares of Viridian Therapeutics from $50.00 to $54.00 and gave the stock an "outperform" rating in a research note on Thursday, November 5th. Finally, Wedbush raised their target price on shares of Viridian Therapeutics from $41.00 to $42.00 and gave the stock an "outperform" rating in a report on Thursday, November 5th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.00.

Insider Activity at Viridian Therapeutics

In related news, insider Jennifer Tousignant sold 14,212 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $24.50, for a total transaction of $348,194.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is owned by insiders.

Viridian Therapeutics Company Profile

Viridian Therapeutics is a clinical-stage biopharmaceutical company developing medicines for serious diseases, with a primary focus on thyroid eye disease (TED), an autoimmune condition that can cause inflammation and changes around the eyes.

The company's pipeline includes veligrotug, an investigational antibody that targets the insulin-like growth factor 1 receptor, a pathway involved in TED. Viridian is also developing additional antibody-based candidates intended to offer treatment options, including formulations designed for under-the-skin administration.

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