Viridian Therapeutics, Inc. (NASDAQ:VRDN) Shares Purchased by J. Safra Sarasin Holding AG

Key Points

• J. Safra Sarasin Holding AG increased its stake in Viridian Therapeutics by 99.4%, owning 72,672 shares valued at approximately $980,000.
• Wall Street analysts show optimism with an average rating of "Moderate Buy" for Viridian Therapeutics, forecasting a price target of $37.00 despite recent adjustments from firms like Goldman Sachs and JMP Securities.
• Shares of Viridian Therapeutics have increased by 3.4%, trading at $17.44, with a market capitalization of about $1.42 billion.

J. Safra Sarasin Holding AG raised its stake in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 99.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,672 shares of the company's stock after purchasing an additional 36,219 shares during the quarter. J. Safra Sarasin Holding AG owned about 0.09% of Viridian Therapeutics worth $980,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in VRDN. FMR LLC grew its position in Viridian Therapeutics by 6.2% during the 4th quarter. FMR LLC now owns 11,881,912 shares of the company's stock worth $227,776,000 after purchasing an additional 698,434 shares during the period. Vanguard Group Inc. grew its holdings in Viridian Therapeutics by 4.0% during the fourth quarter. Vanguard Group Inc. now owns 4,595,049 shares of the company's stock worth $88,087,000 after acquiring an additional 174,952 shares during the period. Deep Track Capital LP raised its position in Viridian Therapeutics by 20.6% during the fourth quarter. Deep Track Capital LP now owns 4,522,741 shares of the company's stock valued at $86,701,000 after acquiring an additional 771,796 shares in the last quarter. Tang Capital Management LLC lifted its holdings in Viridian Therapeutics by 11.1% in 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 period. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in Viridian Therapeutics by 38.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,670,000 shares of the company's stock valued at $32,014,000 after acquiring an additional 465,000 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on VRDN shares. Wells Fargo & Company cut their price target on Viridian Therapeutics from $27.00 to $26.00 and set an "equal weight" rating for the company in a research note on Thursday. JMP Securities decreased their target price on Viridian Therapeutics from $42.00 to $38.00 and set a "market outperform" rating on the stock in a research report on Wednesday, May 7th. Needham & Company LLC cut their price target on shares of Viridian Therapeutics from $36.00 to $34.00 and set a "buy" rating for the company in a report on Wednesday. Royal Bank Of Canada reduced 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. Finally, Oppenheimer upped their price target on shares of Viridian Therapeutics from $28.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $37.00.

Viridian Therapeutics Stock Performance

NASDAQ:VRDN traded down $0.40 during midday trading on Friday, reaching $16.13. The stock had a trading volume of 456,489 shares, compared to its average volume of 895,711. The company has a quick ratio of 19.49, a current ratio of 19.49 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.32 billion, a P/E ratio of -4.21 and a beta of 0.42. Viridian Therapeutics, Inc. has a 12-month low of $9.90 and a 12-month high of $27.20. The firm has a fifty day simple moving average of $15.89 and a two-hundred day simple moving average of $15.23.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($1.00) EPS for the quarter, hitting analysts' consensus estimates of ($1.00). Viridian Therapeutics had a negative return on equity of 72.85% and a negative net margin of 112,806.88%. The company had revenue of $0.08 million for the quarter, compared to the consensus estimate of $0.05 million. During the same period in the previous year, the business earned ($0.81) earnings per share. Viridian Therapeutics's quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities analysts expect that Viridian Therapeutics, Inc. will post -4.03 EPS for the current year.

Viridian Therapeutics 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.