SEB Asset Management AB Makes New Investment in Viridian Therapeutics, Inc. $VRDN

Key Points

• SEB Asset Management AB opened a new position in Viridian Therapeutics during Q1, buying 156,957 shares worth about $3.07 million and owning roughly 0.15% of the company.
• Other institutions also increased exposure, including Vanguard, Commodore Capital, State Street, Price T Rowe, and Perceptive Advisors, signaling broad institutional interest in VRDN.
• Analysts remain positive on Viridian Therapeutics, with 13 Buy ratings, a consensus Moderate Buy, and an average price target of $38.79 versus the stock’s recent price of $19.26.

SEB Asset Management AB acquired a new stake in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 156,957 shares of the company's stock, valued at approximately $3,070,000. SEB Asset Management AB owned approximately 0.15% of Viridian Therapeutics as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Viridian Therapeutics by 29.6% during the 4th quarter. Vanguard Group Inc. now owns 5,612,144 shares of the company's stock worth $174,650,000 after purchasing an additional 1,280,161 shares during the last quarter. Commodore Capital LP lifted its stake in Viridian Therapeutics by 35.4% in the 2nd quarter. Commodore Capital LP now owns 4,875,000 shares of the company's stock valued at $68,152,000 after buying an additional 1,275,000 shares in the last quarter. State Street Corp boosted its holdings in Viridian Therapeutics by 35.7% in the 4th quarter. State Street Corp now owns 3,466,560 shares of the company's stock worth $107,879,000 after buying an additional 912,394 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Viridian Therapeutics by 42.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,439,414 shares of the company's stock worth $107,036,000 after buying an additional 1,021,310 shares during the last quarter. Finally, Perceptive Advisors LLC increased its stake in Viridian Therapeutics by 108.1% during the 4th quarter. Perceptive Advisors LLC now owns 3,042,703 shares of the company's stock worth $94,689,000 after buying an additional 1,580,303 shares in the last quarter.

Insider Buying and Selling at Viridian Therapeutics

In other news, Director Fairmount Funds Management Llc acquired 1,176,470 shares of the company'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 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.40% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on VRDN shares. Truist Financial increased their target price on Viridian Therapeutics from $35.00 to $38.00 and gave the company a "buy" rating in a report on Tuesday, June 30th. Needham & Company LLC reaffirmed a "buy" rating and issued a $32.00 price target on shares of Viridian Therapeutics in a research note on Monday, June 29th. Royal Bank Of Canada boosted their price target on Viridian Therapeutics from $34.00 to $35.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 30th. Wedbush increased their price objective on Viridian Therapeutics from $32.00 to $43.00 and gave the company an "outperform" rating in a research note on Tuesday, June 30th. Finally, Evercore set a $26.00 price objective on Viridian Therapeutics in a report on Friday, May 15th. Thirteen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.79.

Viridian Therapeutics Stock Performance

Shares of Viridian Therapeutics stock opened at $19.26 on Friday. Viridian Therapeutics, Inc. has a one year low of $13.18 and a one year high of $34.29. The company has a market cap of $1.99 billion, a price-to-earnings ratio of -5.80 and a beta of 0.90. The company has a debt-to-equity ratio of 0.10, a quick ratio of 15.15 and a current ratio of 15.15. The business's 50 day moving average price is $17.65 and its 200 day moving average price is $22.48.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported ($0.90) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $0.14 million during the quarter, compared to analysts' expectations of $0.04 million. During the same period in the prior year, the business earned ($0.87) EPS. The firm's quarterly revenue was up 95.8% on a year-over-year basis. On average, research analysts predict that Viridian Therapeutics, Inc. will post -3.87 EPS for the current year.

Viridian Therapeutics 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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