Parkman Healthcare Partners LLC Makes New $25.31 Million Investment in Viridian Therapeutics, Inc. $VRDN

Key Points

• Parkman Healthcare Partners purchased 1.38 million Viridian Therapeutics shares valued at approximately $25.31 million, making VRDN its eighth-largest portfolio holding and representing about 1.22% of the company.
• Analyst sentiment remains broadly positive, with 12 Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $38.54, despite some firms recently downgrading the stock.
• Viridian reported a quarterly loss of $1.05 per share, slightly worse than estimates, while shares opened at $24.02. The clinical-stage biotech continues developing antibody therapies for thyroid eye disease and other autoimmune conditions.

Parkman Healthcare Partners LLC purchased a new position in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,377,576 shares of the company's stock, valued at approximately $25,306,000. Viridian Therapeutics makes up approximately 2.6% of Parkman Healthcare Partners LLC's investment portfolio, making the stock its 8th biggest position. Parkman Healthcare Partners LLC owned about 1.22% of Viridian Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in VRDN. ANTIPODES PARTNERS Ltd purchased a new stake in Viridian Therapeutics during the 4th quarter worth approximately $36,000. KBC Group NV acquired a new stake in Viridian Therapeutics during the 1st quarter worth approximately $34,000. State of Wyoming purchased a new position in Viridian Therapeutics in the 2nd quarter valued at approximately $43,000. Larson Financial Group LLC purchased a new position in Viridian Therapeutics in the 3rd quarter valued at approximately $52,000. Finally, US Bancorp DE grew its stake in shares of Viridian Therapeutics by 23.2% in the third quarter. US Bancorp DE now owns 2,457 shares of the company's stock worth $53,000 after acquiring an additional 463 shares in the last quarter.

Analysts Set New Price Targets

VRDN has been the topic of a number of recent research reports. Weiss Ratings lowered Viridian Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, June 30th. Wall Street Zen lowered Viridian Therapeutics from a "sell" rating to a "strong sell" rating in a report on Saturday, August 1st. Royal Bank Of Canada boosted their target price on Viridian Therapeutics from $35.00 to $36.00 and gave the stock an "outperform" rating in a research note on Friday, August 7th. Stifel Nicolaus set a $39.00 price target on Viridian Therapeutics in a report on Wednesday, May 13th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $39.00 price target on shares of Viridian Therapeutics in a report on Tuesday, June 30th. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Viridian Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.54.

Insider Activity at Viridian Therapeutics

In related news, insider Jennifer Tousignant sold 14,212 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $24.50, for a total value of $348,194.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.40% of the company's stock.

Viridian Therapeutics Stock Down 1.1%

Shares of Viridian Therapeutics stock opened at $24.02 on Tuesday. The company has a quick ratio of 16.95, a current ratio of 16.95 and a debt-to-equity ratio of 0.43. Viridian Therapeutics, Inc. has a 52-week low of $13.18 and a 52-week high of $34.29. The company has a market capitalization of $2.72 billion, a P/E ratio of -7.13 and a beta of 0.91. The company has a 50 day moving average of $19.97 and a 200 day moving average of $20.85.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($1.05) EPS for the quarter, missing analysts' consensus estimates of ($1.03) by ($0.02). Viridian Therapeutics had a negative net margin of 505.86% and a negative return on equity of 72.97%. The firm had revenue of $0.28 million during the quarter, compared to analysts' expectations of $0.06 million. As a group, research analysts forecast that Viridian Therapeutics, Inc. will post -4.07 EPS for the current fiscal year.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc NASDAQ: VRDN is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted antibody therapeutics for patients suffering from rare and serious diseases. The company's lead program, VRDN-001, is a fully human monoclonal antibody that antagonizes the insulin-like growth factor-1 receptor (IGF-1R), with an initial focus on thyroid eye disease (TED). By selectively inhibiting IGF-1R signaling, VRDN-001 aims to reduce inflammation and tissue remodeling associated with TED and related disorders.

In addition to VRDN-001, Viridian is advancing a second antibody program, VRDN-002, which targets complement-mediated pathways implicated in autoimmune and inflammatory diseases.

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