GSA Capital Partners LLP Invests $903,000 in Viridian Therapeutics, Inc. $VRDN

Key Points

• GSA Capital Partners acquired 49,177 shares of Viridian Therapeutics during the second quarter, worth approximately $903,000. Several other institutional investors also initiated or increased positions.
• Analyst sentiment is broadly positive: 13 analysts rate VRDN a Buy and one rates it a Sell, resulting in a “Moderate Buy” consensus and an average price target of $38.93.
• Viridian reported a quarterly loss of $1.05 per share, slightly worse than expectations, while revenue of $0.28 million exceeded estimates. The clinical-stage biotech is developing antibody therapies for rare diseases, including thyroid eye disease.

GSA Capital Partners LLP acquired a new position in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 49,177 shares of the company's stock, valued at approximately $903,000.

A number of other hedge funds have also added to or reduced their stakes in the business. KBC Group NV bought a new stake in Viridian Therapeutics during the 1st quarter worth about $34,000. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Viridian Therapeutics in the fourth quarter valued at about $36,000. Larson Financial Group LLC bought a new stake in Viridian Therapeutics during the third quarter worth about $52,000. US Bancorp DE boosted its position in Viridian Therapeutics by 23.2% during the third quarter. US Bancorp DE now owns 2,457 shares of the company's stock valued at $53,000 after purchasing an additional 463 shares during the last quarter. Finally, State of Wyoming bought a new position in Viridian Therapeutics in the first quarter valued at approximately $93,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on VRDN shares. Evercore set a $26.00 price objective on Viridian Therapeutics in a research note on Friday, May 15th. The Goldman Sachs Group reissued a "buy" rating and issued a $39.00 target price on shares of Viridian Therapeutics in a research note on Tuesday, June 30th. Truist Financial boosted their target price on shares of Viridian Therapeutics from $38.00 to $39.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Needham & Company LLC reaffirmed a "buy" rating and set a $32.00 price target on shares of Viridian Therapeutics in a research report on Monday, June 29th. Finally, Wells Fargo & Company upgraded shares of Viridian Therapeutics from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $20.00 to $31.00 in a research note on Monday, June 29th. Thirteen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $38.93.

Viridian Therapeutics Stock Performance

Shares of VRDN stock opened at $23.93 on Wednesday. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of -7.10 and a beta of 0.91. The company has a debt-to-equity ratio of 0.43, a quick ratio of 16.95 and a current ratio of 16.95. The company has a 50-day simple moving average of $19.31 and a 200 day simple moving average of $21.09. Viridian Therapeutics, Inc. has a 52 week low of $13.18 and a 52 week high of $34.29.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.02). The company had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.06 million. Viridian Therapeutics had a negative net margin of 505.86% and a negative return on equity of 72.97%. On average, sell-side analysts predict that Viridian Therapeutics, Inc. will post -4.07 earnings per share 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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