Velan Capital Investment Management LP Has $184,000 Stock Holdings in Viridian Therapeutics, Inc. $VRDN

Key Points

• Velan Capital cut its Viridian Therapeutics stake by 89% in the second quarter, selling 81,123 shares and retaining 10,000 shares valued at approximately $184,000.
• Institutional sentiment was mixed: Wellington Management and Yiheng Capital increased their positions, while Bank of America acquired a new $17.3 million stake. Viridian shares opened at $22.78, with a market value of about $2.58 billion.
• Analysts remain broadly optimistic despite Viridian missing its latest earnings estimate, with 12 Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $38.54.

Velan Capital Investment Management LP cut its stake in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 89.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,000 shares of the company's stock after selling 81,123 shares during the period. Velan Capital Investment Management LP's holdings in Viridian Therapeutics were worth $184,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Headlands Technologies LLC increased its stake in Viridian Therapeutics by 40.1% in the 2nd quarter. Headlands Technologies LLC now owns 46,544 shares of the company's stock worth $855,000 after purchasing an additional 13,321 shares in the last quarter. Yiheng Capital Management L.P. lifted its stake in Viridian Therapeutics by 91.9% during the second quarter. Yiheng Capital Management L.P. now owns 400,464 shares of the company's stock valued at $7,357,000 after buying an additional 191,729 shares in the last quarter. Wellington Management Group LLP lifted its stake in Viridian Therapeutics by 1.6% during the second quarter. Wellington Management Group LLP now owns 3,128,362 shares of the company's stock valued at $57,468,000 after buying an additional 49,808 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Viridian Therapeutics in the second quarter worth about $387,000. Finally, Bank of America Corp DE acquired a new position in shares of Viridian Therapeutics in the second quarter worth about $17,348,000.

Viridian Therapeutics Trading Down 1.1%

Shares of NASDAQ VRDN opened at $22.78 on Thursday. The company has a current ratio of 16.95, a quick ratio of 16.95 and a debt-to-equity ratio of 0.43. Viridian Therapeutics, Inc. has a one year low of $13.18 and a one year high of $34.29. The business has a 50-day moving average price of $20.90 and a two-hundred day moving average price of $20.55. The firm has a market capitalization of $2.58 billion, a PE ratio of -6.76 and a beta of 0.97.

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

Insiders Place Their Bets

In other Viridian Therapeutics news, insider Jennifer Tousignant sold 14,212 shares of the company's stock in a transaction that occurred on Wednesday, August 19th. The shares were 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 this link. Corporate insiders own 2.40% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on VRDN. Truist Financial boosted their price target on shares of Viridian Therapeutics from $38.00 to $39.00 and gave the company a "buy" rating in a report on Friday, August 7th. Royal Bank Of Canada raised their price objective on shares of Viridian Therapeutics from $35.00 to $36.00 and gave the stock an "outperform" rating in a research note on Friday, August 7th. Wells Fargo & Company upgraded shares of Viridian Therapeutics from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $20.00 to $31.00 in a research report on Monday, June 29th. Weiss Ratings downgraded shares of Viridian Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, June 30th. Finally, Needham & Company LLC restated a "buy" rating and issued a $32.00 target price on shares of Viridian Therapeutics in a report on Monday, June 29th. Twelve analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.54.

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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