Parkman Healthcare Partners LLC Lowers Stake in Viridian Therapeutics, Inc. $VRDN

Key Points

• Parkman Healthcare Partners LLC has reduced its stake in Viridian Therapeutics by 2.1%, now holding approximately 1.3% of the company's shares, which amounts to $14.35 million.
• Other investors like Amalgamated Bank and GAMMA Investing LLC have significantly increased their stakes in Viridian Therapeutics by 49.7% and 3,892.9%, respectively.
• Viridian Therapeutics reported a quarterly EPS of ($1.00), matching analyst expectations, with a slight year-over-year revenue increase of 4.2% to $0.08 million.

Parkman Healthcare Partners LLC trimmed its holdings in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 2.1% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,064,506 shares of the company's stock after selling 23,128 shares during the quarter. Viridian Therapeutics comprises approximately 1.7% of Parkman Healthcare Partners LLC's portfolio, making the stock its 24th biggest position. Parkman Healthcare Partners LLC owned about 1.30% of Viridian Therapeutics worth $14,350,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in VRDN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Viridian Therapeutics by 1.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company's stock worth $669,000 after purchasing an additional 876 shares during the last quarter. ADAR1 Capital Management LLC lifted its stake in shares of Viridian Therapeutics by 203.8% in the 1st quarter. ADAR1 Capital Management LLC now owns 79,000 shares of the company's stock worth $1,065,000 after purchasing an additional 53,000 shares during the period. Maverick Capital Ltd. lifted its stake in shares of Viridian Therapeutics by 0.4% in the 1st quarter. Maverick Capital Ltd. now owns 2,061,274 shares of the company's stock worth $27,786,000 after purchasing an additional 7,368 shares during the period. Paradigm Biocapital Advisors LP boosted its holdings in shares of Viridian Therapeutics by 15.1% in the first quarter. Paradigm Biocapital Advisors LP now owns 2,095,079 shares of the company's stock worth $28,242,000 after buying an additional 275,000 shares during the last quarter. Finally, Panagora Asset Management Inc. grew its position in Viridian Therapeutics by 40.2% during the first quarter. Panagora Asset Management Inc. now owns 354,739 shares of the company's stock valued at $4,782,000 after buying an additional 101,717 shares during the period.

Viridian Therapeutics Price Performance

Shares of NASDAQ:VRDN traded down $0.16 on Thursday, reaching $19.66. The company's stock had a trading volume of 448,682 shares, compared to its average volume of 896,680. The company has a 50-day simple moving average of $17.69 and a 200 day simple moving average of $15.30. 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 has a market cap of $1.61 billion, a P/E ratio of -5.13 and a beta of 0.53. Viridian Therapeutics, Inc. has a 52-week low of $9.90 and a 52-week high of $27.20.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($1.00) earnings per share for the quarter, meeting the consensus estimate 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 return on equity of 78.95% and a negative net margin of 112,806.88%.The company's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.81) EPS. As a group, equities research analysts anticipate that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on VRDN. Royal Bank Of Canada cut 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. The Goldman Sachs Group boosted their price target on Viridian Therapeutics from $27.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Needham & Company LLC decreased their price objective on Viridian Therapeutics from $36.00 to $34.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Jefferies Financial Group assumed coverage on Viridian Therapeutics in a research note on Monday, August 25th. They set a "buy" rating and a $44.00 price objective for the company. Finally, Wells Fargo & Company decreased their target price on shares of Viridian Therapeutics from $27.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 7th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.