Eversept Partners LP Sells 1,068,966 Shares of Viridian Therapeutics, Inc. $VRDN

Key Points

• Eversept Partners LP cut its Viridian Therapeutics stake by 60%, selling 1,068,966 shares and retaining 713,269 shares valued at approximately $13.95 million.
• Despite Eversept’s reduction, several major institutions—including Vanguard, State Street, T. Rowe Price, and Perceptive Advisors—increased their positions. An insider also purchased 1.18 million shares for roughly $20 million.
• Analyst sentiment remains positive, with 13 Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $38.79, versus a recent share price of $19.70.

Eversept Partners LP trimmed its position in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 60.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 713,269 shares of the company's stock after selling 1,068,966 shares during the period. Eversept Partners LP owned approximately 0.69% of Viridian Therapeutics worth $13,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Viridian Therapeutics by 29.6% in the fourth quarter. Vanguard Group Inc. now owns 5,612,144 shares of the company's stock worth $174,650,000 after purchasing an additional 1,280,161 shares during the last quarter. Commodore Capital LP lifted its position in Viridian Therapeutics by 35.4% during the second quarter. Commodore Capital LP now owns 4,875,000 shares of the company's stock valued at $68,152,000 after purchasing an additional 1,275,000 shares during the last quarter. State Street Corp grew its stake in shares of Viridian Therapeutics by 35.7% in the 4th quarter. State Street Corp now owns 3,466,560 shares of the company's stock worth $107,879,000 after buying an additional 912,394 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Viridian Therapeutics by 42.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,439,414 shares of the company's stock worth $107,036,000 after buying an additional 1,021,310 shares in the last quarter. Finally, Perceptive Advisors LLC raised its position in shares of Viridian Therapeutics by 108.1% during the 4th quarter. Perceptive Advisors LLC now owns 3,042,703 shares of the company's stock valued at $94,689,000 after buying an additional 1,580,303 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts recently commented on VRDN shares. Wall Street Zen upgraded Viridian Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Monday, July 20th. Wells Fargo & Company upgraded Viridian Therapeutics from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $20.00 to $31.00 in a report on Monday, June 29th. The Goldman Sachs Group restated a "buy" rating and set a $39.00 price target on shares of Viridian Therapeutics in a report on Tuesday, June 30th. Needham & Company LLC restated a "buy" rating and issued a $32.00 price target on shares of Viridian Therapeutics in a research report on Monday, June 29th. Finally, Weiss Ratings lowered shares of Viridian Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, June 30th. Thirteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Viridian Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.79.

Insider Transactions at Viridian Therapeutics

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

Viridian Therapeutics Stock Performance

Viridian Therapeutics stock opened at $19.70 on Tuesday. 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 firm has a market capitalization of $2.03 billion, a P/E ratio of -5.93 and a beta of 0.90. Viridian Therapeutics, Inc. has a 1-year low of $13.18 and a 1-year high of $34.29. The company's 50-day moving average is $17.77 and its 200 day moving average is $22.33.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported ($0.90) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.06) by $0.16. The business had revenue of $0.14 million during the quarter, compared to analyst estimates of $0.04 million. Viridian Therapeutics had a negative return on equity of 80.19% and a negative net margin of 490.31%.The company's revenue for the quarter was up 95.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.87) earnings per share. Research analysts forecast that Viridian Therapeutics, Inc. will post -3.87 EPS for the current year.

Viridian Therapeutics Company Profile

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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