Deutsche Bank AG Invests $8.87 Million in Viridian Therapeutics, Inc. $VRDN

Key Points

• Deutsche Bank initiated an $8.87 million position in Viridian Therapeutics during the second quarter, purchasing 482,875 shares, or approximately 0.47% of the company. Other institutional investors, including Goldman Sachs and UBS, also increased their holdings.
• Analyst sentiment remains broadly positive: 13 analysts rate VRDN a Buy and one rates it a Sell, producing a consensus “Moderate Buy” rating and an average price target of $38.93.
• Viridian reported a quarterly loss of $1.05 per share, slightly worse than estimates, while revenue of $0.28 million exceeded expectations. The stock opened at $24.29, compared with a 12-month range of $13.18 to $34.29.

Deutsche Bank AG bought a new position in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 482,875 shares of the company's stock, valued at approximately $8,870,000. Deutsche Bank AG owned about 0.47% of Viridian Therapeutics at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in VRDN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Viridian Therapeutics by 1.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company's stock valued at $669,000 after purchasing an additional 876 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Viridian Therapeutics by 33.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,231,092 shares of the company's stock valued at $16,595,000 after purchasing an additional 310,998 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Viridian Therapeutics by 12.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 130,570 shares of the company's stock valued at $1,760,000 after purchasing an additional 14,788 shares during the last quarter. Envestnet Asset Management Inc. acquired a new position in shares of Viridian Therapeutics in the second quarter valued at $187,000. Finally, Creative Planning bought a new position in shares of Viridian Therapeutics in the second quarter valued at about $179,000.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on VRDN shares. Weiss Ratings cut shares of Viridian Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, June 30th. Needham & Company LLC reiterated a "buy" rating and issued a $32.00 price target on shares of Viridian Therapeutics in a research note on Monday, June 29th. Royal Bank Of Canada increased their price target on shares of Viridian Therapeutics from $35.00 to $36.00 and gave the company an "outperform" rating in a report on Friday, August 7th. Wells Fargo & Company upgraded shares of Viridian Therapeutics from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $20.00 to $31.00 in a research report on Monday, June 29th. Finally, Wedbush raised their price objective on shares of Viridian Therapeutics from $32.00 to $43.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 30th. Thirteen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.93.

Viridian Therapeutics Stock Performance

NASDAQ VRDN opened at $24.29 on Monday. The company has a quick ratio of 16.95, a current ratio of 16.95 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $2.75 billion, a P/E ratio of -7.21 and a beta of 0.91. Viridian Therapeutics, Inc. has a 12-month low of $13.18 and a 12-month high of $34.29. The firm has a 50-day moving average price of $19.82 and a two-hundred day moving average price of $20.91.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($1.05) earnings per share (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 business had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.06 million. Analysts anticipate that Viridian Therapeutics, Inc. will post -4.07 earnings per share for the current year.

Insider Activity

In related news, insider Jennifer Tousignant sold 14,212 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $24.50, for a total value of $348,194.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.40% of the company's stock.

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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