BIT Capital GmbH Sells 214,274 Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Key Points

• BIT Capital GmbH significantly reduced its stake in Viridian Therapeutics by 74.9%, owning 71,680 shares worth $966,000 after selling 214,274 shares in the first quarter.
• Analysts have adjusted their price targets for Viridian Therapeutics, with JMP Securities lowering it from $42 to $38 while maintaining a "market outperform" rating.
• Viridian Therapeutics reported quarterly earnings of ($0.87) per share, exceeding estimates, but had negative margins and revenue of only $0.07 million against expectations of $0.16 million.

BIT Capital GmbH lessened its stake in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 74.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 71,680 shares of the company's stock after selling 214,274 shares during the period. BIT Capital GmbH owned about 0.09% of Viridian Therapeutics worth $966,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of VRDN. Amalgamated Bank increased its position in Viridian Therapeutics by 49.7% during the first quarter. Amalgamated Bank now owns 2,531 shares of the company's stock worth $34,000 after buying an additional 840 shares during the last quarter. Nuveen Asset Management LLC grew its position in Viridian Therapeutics by 198.2% during the fourth quarter. Nuveen Asset Management LLC now owns 681,012 shares of the company's stock worth $13,055,000 after buying an additional 452,627 shares in the last quarter. Principal Financial Group Inc. grew its position in Viridian Therapeutics by 17.0% during the first quarter. Principal Financial Group Inc. now owns 208,836 shares of the company's stock worth $2,815,000 after buying an additional 30,392 shares in the last quarter. Vanguard Group Inc. grew its position in Viridian Therapeutics by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 4,595,049 shares of the company's stock worth $88,087,000 after buying an additional 174,952 shares in the last quarter. Finally, Rhumbline Advisers grew 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 in the last quarter.

Analyst Ratings Changes

VRDN has been the subject of a number of analyst reports. Royal Bank Of Canada cut their price target on shares of Viridian Therapeutics from $45.00 to $41.00 and set an "outperform" rating for the company in a research note on Thursday. Wells Fargo & Company lowered their price target on shares of Viridian Therapeutics from $27.00 to $26.00 and set an "equal weight" rating for the company in a report on Thursday. HC Wainwright reissued a "buy" rating and issued a $34.00 price target on shares of Viridian Therapeutics in a report on Wednesday, April 23rd. JMP Securities lowered their target price on shares of Viridian Therapeutics from $42.00 to $38.00 and set a "market outperform" rating for the company in a report on Wednesday, May 7th. Finally, The Goldman Sachs Group decreased their price target on shares of Viridian Therapeutics from $31.00 to $27.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $36.63.

Viridian Therapeutics Stock Performance

Viridian Therapeutics stock traded down $0.45 during trading hours on Thursday, hitting $16.76. The company had a trading volume of 303,174 shares, compared to its average volume of 894,968. The firm has a 50-day moving average of $15.84 and a 200 day moving average of $15.24. Viridian Therapeutics, Inc. has a one year low of $9.90 and a one year high of $27.20. The firm has a market cap of $1.37 billion, a PE ratio of -4.34 and a beta of 0.42. The company has a debt-to-equity ratio of 0.05, a current ratio of 19.49 and a quick ratio of 19.49.

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 (EPS) for the quarter, hitting the consensus estimate of ($1.00). The business had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.05 million. Viridian Therapeutics had a negative net margin of 102,092.39% and a negative return on equity of 70.61%. The firm's revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.81) EPS. On average, sell-side analysts expect that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current year.

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.