Hsbc Holdings PLC Makes New Investment in Viridian Therapeutics, Inc. $VRDN

Hsbc Holdings PLC purchased a new stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 39,452 shares of the company's stock, valued at approximately $526,000.

Several other hedge funds have also added to or reduced their stakes in the business. Deep Track Capital LP boosted its position in Viridian Therapeutics by 20.6% during the 4th quarter. Deep Track Capital LP now owns 4,522,741 shares of the company's stock worth $86,701,000 after buying an additional 771,796 shares during the period. Tang Capital Management LLC raised its stake in shares of Viridian Therapeutics by 11.1% during the fourth quarter. Tang Capital Management LLC now owns 2,492,925 shares of the company's stock valued at $47,789,000 after acquiring an additional 250,000 shares during the last quarter. Parkman Healthcare Partners LLC raised its stake in shares of Viridian Therapeutics by 155.9% during the fourth quarter. Parkman Healthcare Partners LLC now owns 1,087,634 shares of the company's stock valued at $20,850,000 after acquiring an additional 662,634 shares during the last quarter. Northern Trust Corp raised its stake in shares of Viridian Therapeutics by 1.2% during the first quarter. Northern Trust Corp now owns 702,517 shares of the company's stock valued at $9,470,000 after acquiring an additional 8,375 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of Viridian Therapeutics by 198.2% during the fourth quarter. Nuveen Asset Management LLC now owns 681,012 shares of the company's stock valued at $13,055,000 after acquiring an additional 452,627 shares during the last quarter.

Viridian Therapeutics Trading Up 0.4%

Shares of NASDAQ VRDN traded up $0.08 during midday trading on Friday, reaching $18.72. The stock had a trading volume of 799,775 shares, compared to its average volume of 854,916. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of -4.89 and a beta of 0.53. Viridian Therapeutics, Inc. has a twelve month low of $9.90 and a twelve month high of $27.20. The company has a debt-to-equity ratio of 0.04, a quick ratio of 11.01 and a current ratio of 11.01. The company's 50 day moving average price is $17.37 and its 200 day moving average price is $15.22.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($1.00) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($1.00). The firm had revenue of $0.08 million for the quarter, compared to the consensus estimate of $0.05 million. Viridian Therapeutics had a negative net margin of 112,806.88% and a negative return on equity of 78.95%. The company's revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.81) EPS. As a group, sell-side analysts expect that Viridian Therapeutics, Inc. will post -4.03 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on VRDN shares. Jefferies Financial Group started coverage on shares of Viridian Therapeutics in a research note on Monday, August 25th. They set a "buy" rating and a $44.00 price target for the company. The Goldman Sachs Group raised their price target on shares of Viridian Therapeutics from $27.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Wells Fargo & Company dropped 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 research note on Thursday, August 7th. Royal Bank Of Canada dropped their price target on shares of Viridian Therapeutics from $45.00 to $41.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Finally, Oppenheimer raised their price target on shares of Viridian Therapeutics from $28.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Nine equities research analysts have rated the stock with a Buy rating and one has given 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.