Perceptive Advisors LLC Buys 1,580,303 Shares of Viridian Therapeutics, Inc. $VRDN

Key Points

• Perceptive Advisors LLC more than doubled its stake in Viridian Therapeutics in the fourth quarter, buying 1,580,303 additional shares and lifting its holdings to 3,042,703 shares, or about 3.19% of the company.
• Viridian also saw continued institutional activity from firms including Goldman Sachs, UBS, and new buyers such as Envestnet Asset Management and Creative Planning, indicating broader investor interest in the stock.
• The company recently reported a smaller-than-expected quarterly loss of ($0.90) per share and modest revenue growth, while analysts currently view the stock as a Moderate Buy with a consensus target price of $36.14.

Perceptive Advisors LLC boosted its stake in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 108.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,042,703 shares of the company's stock after purchasing an additional 1,580,303 shares during the quarter. Viridian Therapeutics comprises 1.7% of Perceptive Advisors LLC's holdings, making the stock its 17th largest holding. Perceptive Advisors LLC owned 3.19% of Viridian Therapeutics worth $94,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in VRDN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Viridian Therapeutics by 1.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company's stock valued at $669,000 after purchasing an additional 876 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Viridian Therapeutics by 33.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,231,092 shares of the company's stock valued at $16,595,000 after purchasing an additional 310,998 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Viridian Therapeutics by 12.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 130,570 shares of the company's stock valued at $1,760,000 after purchasing an additional 14,788 shares in the last quarter. Envestnet Asset Management Inc. bought a new stake in Viridian Therapeutics during the second quarter valued at about $187,000. Finally, Creative Planning bought a new stake in Viridian Therapeutics during the second quarter valued at about $179,000.

Viridian Therapeutics Price Performance

Shares of NASDAQ VRDN opened at $16.71 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 15.15 and a current ratio of 15.15. Viridian Therapeutics, Inc. has a fifty-two week low of $13.18 and a fifty-two week high of $34.29. The company has a market cap of $1.72 billion, a PE ratio of -5.03 and a beta of 0.90. The business has a 50-day simple moving average of $15.91 and a two-hundred day simple moving average of $24.92.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported ($0.90) EPS for the quarter, topping analysts' consensus estimates of ($1.06) by $0.16. Viridian Therapeutics had a negative return on equity of 80.19% and a negative net margin of 490.31%.The firm had revenue of $0.14 million during the quarter, compared to the consensus estimate of $0.04 million. During the same quarter in the previous year, the company posted ($0.87) earnings per share. The company's revenue was up 95.8% compared to the same quarter last year. As a group, equities analysts expect that Viridian Therapeutics, Inc. will post -3.87 EPS for the current fiscal year.

Insider Activity at Viridian Therapeutics

In other news, Director Fairmount Funds Management Llc bought 1,176,470 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average price of $17.00 per share, with a total value of $19,999,990.00. Following the completion of the acquisition, the director directly owned 5,090,928 shares of the company's stock, valued at $86,545,776. This trade represents a 30.05% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on VRDN shares. Wall Street Zen raised Viridian Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Sunday. HC Wainwright lowered their price target on Viridian Therapeutics from $34.00 to $22.00 and set a "buy" rating for the company in a report on Tuesday, March 31st. Stifel Nicolaus set a $39.00 price target on Viridian Therapeutics in a report on Wednesday, May 13th. Evercore set a $26.00 price target on Viridian Therapeutics in a report on Friday, May 15th. Finally, Truist Financial lowered their price target on Viridian Therapeutics from $36.00 to $33.00 and set a "buy" rating for the company in a report on Tuesday, April 21st. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Viridian Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $36.14.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.