Driehaus Capital Management LLC Sells 605,395 Shares of Viridian Therapeutics, Inc. $VRDN

Key Points

• Driehaus Capital Management LLC reduced its stake in Viridian Therapeutics by 32.3%, now owning approximately 1.56% of the company, worth about $17.1 million.
• Several institutional investors, including Amalgamated Bank and Nuveen Asset Management, have increased their holdings in Viridian Therapeutics, with increases of 49.7% and 198.2%, respectively, in the first quarter.
• Viridian Therapeutics reported ($1.00) earnings per share for the last quarter, meeting consensus estimates, and its stock currently has a price target consensus of $37.78 from analysts.

Driehaus Capital Management LLC reduced its stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 32.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,270,481 shares of the company's stock after selling 605,395 shares during the quarter. Driehaus Capital Management LLC owned about 1.56% of Viridian Therapeutics worth $17,126,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Affinity Asset Advisors LLC raised its holdings in Viridian Therapeutics by 144.3% in the 1st quarter. Affinity Asset Advisors LLC now owns 390,000 shares of the company's stock valued at $5,257,000 after acquiring an additional 230,386 shares during the period. Candriam S.C.A. raised its holdings in Viridian Therapeutics by 20.4% in the 1st quarter. Candriam S.C.A. now owns 880,430 shares of the company's stock valued at $11,868,000 after acquiring an additional 149,209 shares during the period. EntryPoint Capital LLC bought a new position in Viridian Therapeutics in the 1st quarter valued at about $185,000. Hsbc Holdings PLC bought a new position in shares of Viridian Therapeutics during the first quarter worth approximately $526,000. Finally, Quantbot Technologies LP increased its holdings in shares of Viridian Therapeutics by 146.4% during the first quarter. Quantbot Technologies LP now owns 21,131 shares of the company's stock worth $285,000 after purchasing an additional 12,556 shares during the period.

Analyst Ratings Changes

VRDN has been the topic of several recent research reports. Oppenheimer raised their target price on shares of Viridian Therapeutics from $28.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Wells Fargo & Company lowered their target price on shares of Viridian Therapeutics from $27.00 to $26.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. The Goldman Sachs Group raised their target price on shares of Viridian Therapeutics from $27.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Needham & Company LLC lowered their target price on shares of Viridian Therapeutics from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Finally, Royal Bank Of Canada lowered their target price on shares of Viridian Therapeutics from $45.00 to $41.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $37.78.

Viridian Therapeutics Trading Down 4.3%

Shares of NASDAQ:VRDN traded down $0.83 during mid-day trading on Thursday, reaching $18.64. 866,584 shares of the company's stock were exchanged, compared to its average volume of 851,452. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of -4.87 and a beta of 0.53. The business's fifty day moving average price is $17.28 and its 200-day moving average price is $15.21. The company has a debt-to-equity ratio of 0.04, a quick ratio of 11.01 and a current ratio of 11.01. Viridian Therapeutics, Inc. has a twelve month low of $9.90 and a twelve month high of $27.20.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($1.00) EPS for the quarter, hitting analysts' consensus estimates of ($1.00). The company 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 112,806.88% and a negative return on equity of 78.95%. Viridian Therapeutics's revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.81) earnings per share. On average, research analysts predict that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Viridian Therapeutics Company 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.