Exome Asset Management LLC Invests $2.93 Million in Viridian Therapeutics, Inc. $VRDN

Key Points

• Exome Asset Management LLC has acquired a $2.93 million position in Viridian Therapeutics, Inc., purchasing 217,294 shares and making it the firm's 14th largest investment.
• Viridian Therapeutics reported earnings of ($1.00) EPS for the last quarter with revenue of $0.08 million, which was in line with analysts' expectations.
• Recent analyst ratings for Viridian include a target price increase from Goldman Sachs from $27.00 to $30.00, alongside other firms adjusting their price targets, indicating a generally favorable outlook on the stock.

Exome Asset Management LLC bought a new position in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 217,294 shares of the company's stock, valued at approximately $2,929,000. Viridian Therapeutics accounts for 2.5% of Exome Asset Management LLC's investment portfolio, making the stock its 14th largest holding. Exome Asset Management LLC owned about 0.27% of Viridian Therapeutics at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Tang Capital Management LLC raised its holdings in Viridian Therapeutics by 11.1% in the fourth quarter. Tang Capital Management LLC now owns 2,492,925 shares of the company's stock worth $47,789,000 after purchasing an additional 250,000 shares during the period. Paradigm Biocapital Advisors LP raised its holdings in Viridian Therapeutics by 15.1% in the first quarter. Paradigm Biocapital Advisors LP now owns 2,095,079 shares of the company's stock worth $28,242,000 after purchasing an additional 275,000 shares during the period. Maverick Capital Ltd. raised its holdings in Viridian Therapeutics by 0.4% in the first quarter. Maverick Capital Ltd. now owns 2,061,274 shares of the company's stock worth $27,786,000 after purchasing an additional 7,368 shares during the period. Goldman Sachs Group Inc. raised its holdings in Viridian Therapeutics by 33.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,231,092 shares of the company's stock worth $16,595,000 after purchasing an additional 310,998 shares during the period. Finally, Parkman Healthcare Partners LLC lifted its stake in Viridian Therapeutics by 155.9% in the fourth quarter. Parkman Healthcare Partners LLC now owns 1,087,634 shares of the company's stock valued at $20,850,000 after buying an additional 662,634 shares in the last quarter.

Viridian Therapeutics Stock Down 4.0%

Shares of NASDAQ VRDN traded down $0.78 during mid-day trading on Friday, hitting $18.87. The company had a trading volume of 448,146 shares, compared to its average volume of 833,731. The company has a current ratio of 11.01, a quick ratio of 11.01 and a debt-to-equity ratio of 0.04. The firm has a 50-day simple moving average of $17.84 and a two-hundred day simple moving average of $15.35. The company has a market capitalization of $1.54 billion, a PE ratio of -4.93 and a beta of 0.53. Viridian Therapeutics, Inc. has a one year low of $9.90 and a one year 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, meeting the consensus estimate of ($1.00). The firm had revenue of $0.08 million during the quarter, compared to analysts' expectations of $0.05 million. Viridian Therapeutics had a negative return on equity of 78.95% and a negative net margin of 112,806.88%.The business's quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.81) earnings per share. On average, equities analysts expect that Viridian Therapeutics, Inc. will post -4.03 EPS for the current year.

Analyst Upgrades and Downgrades

VRDN has been the subject of several research analyst reports. Royal Bank Of Canada reduced their price target on shares of Viridian Therapeutics from $45.00 to $41.00 and set an "outperform" rating for the company in a report on Thursday, August 7th. Wells Fargo & Company reduced 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, August 7th. Needham & Company LLC reduced their price target on shares of Viridian Therapeutics from $36.00 to $34.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. The Goldman Sachs Group upped their price objective on Viridian Therapeutics from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Finally, Jefferies Financial Group initiated coverage on Viridian Therapeutics in a research report on Monday, August 25th. They issued a "buy" rating and a $44.00 target price on the stock. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Viridian Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $37.78.

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.