First Trust Advisors LP Grows Stock Holdings in Viridian Therapeutics, Inc. $VRDN

First Trust Advisors LP boosted its stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 151.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 301,529 shares of the company's stock after acquiring an additional 181,637 shares during the period. First Trust Advisors LP owned 0.29% of Viridian Therapeutics worth $5,898,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VRDN. KBC Group NV acquired a new stake in Viridian Therapeutics during the 1st quarter worth approximately $34,000. ANTIPODES PARTNERS Ltd acquired a new position in shares of Viridian Therapeutics in the fourth quarter valued at approximately $36,000. Larson Financial Group LLC purchased a new stake in shares of Viridian Therapeutics during the third quarter worth approximately $52,000. US Bancorp DE raised its stake in shares of Viridian Therapeutics by 23.2% during the third quarter. US Bancorp DE now owns 2,457 shares of the company's stock worth $53,000 after purchasing an additional 463 shares during the last quarter. Finally, Sei Investments Co. purchased a new stake in shares of Viridian Therapeutics during the second quarter worth approximately $147,000.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on VRDN. Wall Street Zen lowered shares of Viridian Therapeutics from a "sell" rating to a "strong sell" rating in a research report on Saturday. Truist Financial upped their price objective on shares of Viridian Therapeutics from $35.00 to $38.00 and gave the stock a "buy" rating in a research report on Tuesday, June 30th. Evercore set a $26.00 target price on shares of Viridian Therapeutics in a research note on Friday, May 15th. Stifel Nicolaus set a $39.00 target price on shares of Viridian Therapeutics in a report on Wednesday, May 13th. Finally, Wedbush boosted their price target on shares of Viridian Therapeutics from $32.00 to $43.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 30th. Thirteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $38.79.

Insider Buying and Selling

In other news, Director Fairmount Funds Management Llc bought 1,176,470 shares of the 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 completion of the acquisition, the director owned 5,090,928 shares of the company's stock, valued at approximately $86,545,776. This trade represents a 30.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.40% of the company's stock.

Viridian Therapeutics Price Performance

VRDN stock opened at $18.92 on Monday. The firm has a 50 day moving average of $17.97 and a 200-day moving average of $21.99. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -5.70 and a beta of 0.91. The company has a current ratio of 15.15, a quick ratio of 15.15 and a debt-to-equity ratio of 0.10. Viridian Therapeutics, Inc. has a 12-month low of $13.18 and a 12-month high of $34.29.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.90) earnings per share for the quarter, topping analysts' consensus estimates of ($1.06) by $0.16. Viridian Therapeutics had a negative return on equity of 80.19% and a negative net margin of 490.31%.The business had revenue of $0.14 million for the quarter, compared to analysts' expectations of $0.04 million. During the same quarter in the prior year, the firm posted ($0.87) EPS. The company's revenue was up 95.8% compared to the same quarter last year. As a group, equities analysts expect that Viridian Therapeutics, Inc. will post -3.87 EPS for the current fiscal 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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