Viridian Therapeutics, Inc. (NASDAQ:VRDN) Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its stock position in Viridian Therapeutics by 36.3%, selling 18,600 shares during the first quarter, leaving it with 32,600 shares valued at approximately $439,000.
• Several other institutional investors, including Amalgamated Bank and SG Americas Securities LLC, have increased their stakes in Viridian Therapeutics, demonstrating varied investor interest in the company.
• Viridian Therapeutics reported a loss of ($0.87) EPS in its latest quarterly earnings, surpassing the consensus estimate of ($0.95), with total revenue reaching $0.07 million against expected figures of $0.16 million.

TD Asset Management Inc trimmed its holdings in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 36.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,600 shares of the company's stock after selling 18,600 shares during the quarter. TD Asset Management Inc's holdings in Viridian Therapeutics were worth $439,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in Viridian Therapeutics by 2,847.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,326,811 shares of the company's stock valued at $25,436,000 after buying an additional 1,281,799 shares in the last quarter. Deep Track Capital LP increased its position in shares of Viridian Therapeutics by 20.6% during the fourth quarter. Deep Track Capital LP now owns 4,522,741 shares of the company's stock worth $86,701,000 after acquiring an additional 771,796 shares during the period. FMR LLC raised its stake in shares of Viridian Therapeutics by 6.2% during the fourth quarter. FMR LLC now owns 11,881,912 shares of the company's stock valued at $227,776,000 after acquiring an additional 698,434 shares in the last quarter. Parkman Healthcare Partners LLC raised its stake in shares of Viridian Therapeutics by 155.9% during the fourth quarter. Parkman Healthcare Partners LLC now owns 1,087,634 shares of the company's stock valued at $20,850,000 after acquiring an additional 662,634 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in shares of Viridian Therapeutics by 38.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,670,000 shares of the company's stock valued at $32,014,000 after purchasing an additional 465,000 shares during the period.

Analysts Set New Price Targets

A number of brokerages have weighed in on VRDN. JMP Securities decreased their target price on Viridian Therapeutics from $42.00 to $38.00 and set a "market outperform" rating for the company in a research report on Wednesday, May 7th. Oppenheimer lifted their price objective on Viridian Therapeutics from $28.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday. Royal Bank Of Canada lowered 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 note on Thursday. The Goldman Sachs Group raised their target price on shares of Viridian Therapeutics from $27.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Wells Fargo & Company reduced their price target on shares of Viridian Therapeutics from $27.00 to $26.00 and set an "equal weight" rating for the company in a report on Thursday. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, Viridian Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $37.00.

Viridian Therapeutics Stock Down 3.4%

VRDN traded down $0.57 on Friday, hitting $15.96. The company had a trading volume of 377,491 shares, compared to its average volume of 895,050. The stock has a fifty day moving average price of $15.89 and a 200-day moving average price of $15.23. Viridian Therapeutics, Inc. has a 12-month low of $9.90 and a 12-month high of $27.20. The company has a debt-to-equity ratio of 0.05, a quick ratio of 19.49 and a current ratio of 19.49. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -4.17 and a beta of 0.42.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($1.00) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 net margin of 112,806.88% and a negative return on equity of 72.85%. The company's quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.81) EPS. Analysts predict that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

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.