Arrowstreet Capital Limited Partnership Has $455,000 Stock Holdings in Viridian Therapeutics, Inc. $VRDN

Key Points

• Arrowstreet Capital cut its Viridian Therapeutics stake by 93.2% in the first quarter, selling 317,979 shares and retaining 23,279 shares valued at approximately $455,000.
• Director Fairmount Funds Management purchased 1,176,470 shares for roughly $20 million, increasing its position by 30.05%; insiders now own 2.40% of the company.
• Analysts maintain a generally positive outlook, with 13 Buy ratings and one Sell rating, a “Moderate Buy” consensus, and a $38.93 average price target. Viridian nevertheless missed its latest quarterly EPS estimate, reporting a loss of $1.05 per share.

Arrowstreet Capital Limited Partnership reduced its position in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 93.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,279 shares of the company's stock after selling 317,979 shares during the quarter. Arrowstreet Capital Limited Partnership's holdings in Viridian Therapeutics were worth $455,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in VRDN. ANTIPODES PARTNERS Ltd bought a new position in shares of Viridian Therapeutics during the fourth quarter worth about $36,000. KBC Group NV bought a new stake in Viridian Therapeutics in the first quarter valued at approximately $34,000. Larson Financial Group LLC acquired a new position in shares of Viridian Therapeutics in the third quarter valued at $52,000. US Bancorp DE lifted its position in 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 acquired a new position in Viridian Therapeutics in the 1st quarter valued at $93,000.

Insider Transactions at Viridian Therapeutics

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc bought 1,176,470 shares of Viridian Therapeutics stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $17.00 per share, for a total transaction of $19,999,990.00. Following the acquisition, the director directly owned 5,090,928 shares in the company, valued at approximately $86,545,776. This represents a 30.05% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 2.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on VRDN shares. Stifel Nicolaus set a $39.00 price objective on shares of Viridian Therapeutics in a research note on Wednesday, May 13th. Wall Street Zen downgraded Viridian Therapeutics from a "sell" rating to a "strong sell" rating in a report on Saturday, August 1st. Needham & Company LLC reaffirmed a "buy" rating and set a $32.00 price target on shares of Viridian Therapeutics in a research note on Monday, June 29th. Evercore set a $26.00 target price on shares of Viridian Therapeutics in a research report on Friday, May 15th. Finally, Weiss Ratings cut Viridian Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, June 30th. Thirteen 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $38.93.

Viridian Therapeutics Price Performance

Shares of NASDAQ VRDN opened at $23.59 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 15.15 and a quick ratio of 15.15. The company's 50-day moving average is $18.38 and its 200 day moving average is $21.67. The stock has a market capitalization of $2.43 billion, a P/E ratio of -7.00 and a beta of 0.91. 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 released its quarterly earnings data on Thursday, August 6th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($0.02). Viridian Therapeutics had a negative net margin of 505.86% and a negative return on equity of 76.65%. The business had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.06 million. On average, sell-side analysts expect that Viridian Therapeutics, Inc. will post -3.87 earnings per share for the current 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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