Invesco Ltd. Acquires 14,672 Shares of Viridian Therapeutics, Inc. $VRDN

Key Points

• Invesco Ltd. increased its holdings in Viridian Therapeutics by 44.3%, owning 47,771 shares valued at $644,000 as of the recent quarter.
• Research analysts have a consensus rating of "Moderate Buy" for Viridian Therapeutics, with an average target price of $37.78 after several firms revised their price targets upward.
• Viridian Therapeutics reported a revenue of $0.08 million for the last quarter, meeting expectations, and announced earnings of ($1.00) per share.

Invesco Ltd. lifted its position in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 44.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 47,771 shares of the company's stock after acquiring an additional 14,672 shares during the quarter. Invesco Ltd. owned approximately 0.06% of Viridian Therapeutics worth $644,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Amalgamated Bank lifted its holdings in shares of Viridian Therapeutics by 49.7% in the first quarter. Amalgamated Bank now owns 2,531 shares of the company's stock valued at $34,000 after purchasing an additional 840 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in Viridian Therapeutics by 198.2% in the 4th quarter. Nuveen Asset Management LLC now owns 681,012 shares of the company's stock worth $13,055,000 after acquiring an additional 452,627 shares in the last quarter. Principal Financial Group Inc. boosted its position in Viridian Therapeutics by 17.0% during the 1st quarter. Principal Financial Group Inc. now owns 208,836 shares of the company's stock worth $2,815,000 after acquiring an additional 30,392 shares during the period. Rhumbline Advisers boosted its position in Viridian Therapeutics by 4.6% during the 1st quarter. Rhumbline Advisers now owns 104,559 shares of the company's stock worth $1,409,000 after acquiring an additional 4,621 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Viridian Therapeutics by 29.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 115,782 shares of the company's stock valued at $2,220,000 after acquiring an additional 26,286 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on VRDN. 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 research report on Thursday, August 7th. Needham & Company LLC dropped their target price on Viridian Therapeutics from $36.00 to $34.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Oppenheimer lifted their price objective 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. Wells Fargo & Company reduced their target price on Viridian Therapeutics from $27.00 to $26.00 and set an "equal weight" rating for the company in a report on Thursday, August 7th. Finally, Jefferies Financial Group initiated coverage on shares of Viridian Therapeutics in a report on Monday, August 25th. They set a "buy" rating and a $44.00 price target for the company. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.78.

Viridian Therapeutics Price Performance

Shares of Viridian Therapeutics stock traded down $0.39 during trading on Wednesday, hitting $19.82. 924,885 shares of the company's stock traded hands, compared to its average volume of 863,579. Viridian Therapeutics, Inc. has a twelve month low of $9.90 and a twelve month high of $27.20. The company has a market cap of $1.62 billion, a PE ratio of -5.17 and a beta of 0.53. The firm's fifty day moving average price is $17.69 and its 200 day moving average price is $15.30. The company has a debt-to-equity ratio of 0.04, a current ratio of 11.01 and a quick ratio of 11.01.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last announced 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 business had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.05 million. Viridian Therapeutics had a negative return on equity of 78.95% and a negative net margin of 112,806.88%.Viridian Therapeutics's quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.81) EPS. Analysts forecast that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current year.

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.