J. Safra Sarasin Holding AG Boosts Stock Position in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

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 grew its position in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 99.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,672 shares of the company's stock after acquiring 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.

A number of other large investors have also recently made changes to their positions in VRDN. Foresite Capital Management VI LLC purchased a new position in Viridian Therapeutics during the 4th quarter worth $38,000. Amalgamated Bank increased its holdings in shares of Viridian Therapeutics by 49.7% in the 1st quarter. Amalgamated Bank now owns 2,531 shares of the company's stock valued at $34,000 after acquiring an additional 840 shares during the period. Summit Investment Advisors Inc. grew its stake in Viridian Therapeutics by 24.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,646 shares of the company's stock valued at $147,000 after purchasing an additional 1,516 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Viridian Therapeutics by 3,892.9% in the 1st quarter. GAMMA Investing LLC now owns 8,425 shares of the company's stock valued at $114,000 after buying an additional 8,214 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Viridian Therapeutics during the fourth quarter valued at approximately $219,000.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on VRDN shares. 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 note on Wednesday. The Goldman Sachs Group reduced their price objective on Viridian Therapeutics from $31.00 to $27.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Royal Bank Of Canada cut their price objective on shares of Viridian Therapeutics from $46.00 to $45.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. HC Wainwright reissued a "buy" rating and issued a $34.00 price target on shares of Viridian Therapeutics in a report on Wednesday, April 23rd. Finally, JMP Securities cut their price objective on shares of Viridian Therapeutics from $42.00 to $38.00 and set a "market outperform" rating for the company in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $36.75.

Viridian Therapeutics Trading Down 1.4%

Shares of NASDAQ VRDN traded down $0.24 during mid-day trading on Wednesday, hitting $17.20. The company had a trading volume of 1,298,177 shares, compared to its average volume of 666,840. The business's 50-day simple moving average is $15.77 and its 200 day simple moving average is $15.22. The company has a quick ratio of 19.49, a current ratio of 19.49 and a debt-to-equity ratio of 0.05. 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 released its quarterly earnings data on Wednesday, August 6th. The company reported ($1.00) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($1.00). Viridian Therapeutics had a negative return on equity of 70.61% and a negative net margin of 102,092.39%. The business had revenue of $0.08 million during the quarter, compared to analysts' expectations of $0.05 million. During the same period in the prior year, the firm posted ($0.81) EPS. The business's quarterly revenue was up 4.2% compared to the same quarter last year. Equities analysts anticipate 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.