Viridian Therapeutics, Inc. $VRDN Shares Acquired by Invesco Ltd.

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 stake in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 44.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 47,771 shares of the company's stock after purchasing an additional 14,672 shares during the quarter. Invesco Ltd. owned about 0.06% of Viridian Therapeutics worth $644,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in VRDN. Parkman Healthcare Partners LLC grew its position in shares of 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 purchasing an additional 662,634 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Viridian Therapeutics by 198.2% during 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 during the period. Rice Hall James & Associates LLC lifted its holdings in shares of Viridian Therapeutics by 579.9% during the 1st quarter. Rice Hall James & Associates LLC now owns 362,893 shares of the company's stock worth $4,892,000 after acquiring an additional 309,518 shares during the period. D. E. Shaw & Co. Inc. increased its position in Viridian Therapeutics by 220.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 442,070 shares of the company's stock worth $8,474,000 after purchasing an additional 304,003 shares in the last quarter. Finally, Tang Capital Management LLC increased its position in Viridian Therapeutics by 11.1% during the 4th 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 in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on VRDN. The Goldman Sachs Group increased their price objective on shares of Viridian Therapeutics from $27.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Royal Bank Of Canada lowered their price objective 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. Oppenheimer increased their price objective on shares of Viridian Therapeutics from $28.00 to $32.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Needham & Company LLC lowered their price objective on shares of Viridian Therapeutics from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Finally, 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 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $37.78.

Viridian Therapeutics Stock Performance

Shares of VRDN traded up $0.08 during midday trading on Friday, hitting $18.72. 799,775 shares of the stock traded hands, compared to its average volume of 854,916. The business's 50 day moving average price is $17.37 and its two-hundred day moving average price is $15.22. The firm has a market capitalization of $1.53 billion, a PE ratio of -4.89 and a beta of 0.53. The company has a debt-to-equity ratio of 0.04, a quick ratio of 11.01 and a current ratio of 11.01. Viridian Therapeutics, Inc. has a 1-year low of $9.90 and a 1-year high of $27.20.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($1.00) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($1.00). The firm had revenue of $0.08 million during the quarter, compared to analyst estimates of $0.05 million. Viridian Therapeutics had a negative net margin of 112,806.88% and a negative return on equity of 78.95%. Viridian Therapeutics's revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.81) EPS. Equities research analysts predict that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal 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.