TD Asset Management Inc Trims Stock Position in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

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 lessened its position in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 36.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm 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 hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Amalgamated Bank grew its position in shares of Viridian Therapeutics by 49.7% in the first quarter. Amalgamated Bank now owns 2,531 shares of the company's stock valued at $34,000 after purchasing an additional 840 shares during the period. SG Americas Securities LLC raised its stake in shares of Viridian Therapeutics by 2.9% in the 1st quarter. SG Americas Securities LLC now owns 31,972 shares of the company's stock valued at $431,000 after acquiring an additional 887 shares during the period. Voya Investment Management LLC grew its holdings in shares of Viridian Therapeutics by 5.1% in the fourth quarter. Voya Investment Management LLC now owns 21,397 shares of the company's stock valued at $410,000 after purchasing an additional 1,038 shares in the last quarter. Tudor Investment Corp ET AL grew its holdings in shares of Viridian Therapeutics by 3.0% in the fourth quarter. Tudor Investment Corp ET AL now owns 38,367 shares of the company's stock valued at $735,000 after purchasing an additional 1,106 shares in the last quarter. Finally, Summit Investment Advisors Inc. grew its holdings in shares of Viridian Therapeutics by 24.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,646 shares of the company's stock valued at $147,000 after purchasing an additional 1,516 shares in the last quarter.

Viridian Therapeutics Price Performance

VRDN opened at $16.86 on Tuesday. Viridian Therapeutics, Inc. has a 1 year low of $9.90 and a 1 year high of $27.20. The company's 50 day simple moving average is $15.70 and its 200 day simple moving average is $15.21. 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 $1.38 billion, a PE ratio of -4.38 and a beta of 0.42.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.87) EPS for the quarter, beating the consensus estimate of ($0.95) by $0.08. Viridian Therapeutics had a negative net margin of 102,092.39% and a negative return on equity of 70.61%. The firm had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.16 million. The company's revenue was up .0% compared to the same quarter last year. As a group, sell-side analysts expect that Viridian Therapeutics, Inc. will post -4.03 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on VRDN shares. Royal Bank Of Canada lowered their price target on shares of Viridian Therapeutics from $46.00 to $45.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. HC Wainwright restated a "buy" rating and set a $34.00 price objective on shares of Viridian Therapeutics in a research report on Wednesday, April 23rd. The Goldman Sachs Group cut their price target on shares of Viridian Therapeutics from $31.00 to $27.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. JMP Securities dropped their target price on shares of Viridian Therapeutics from $42.00 to $38.00 and set a "market outperform" rating for the company in a report on Wednesday, May 7th. Finally, Needham & Company LLC restated a "buy" rating and set a $36.00 target price on shares of Viridian Therapeutics in a report on Tuesday, May 20th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Viridian Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $37.00.

About Viridian Therapeutics

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.

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