Victory Capital Management Inc. Acquires 142,410 Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Key Points

• Victory Capital Management Inc. increased its stake in Viridian Therapeutics, Inc. by 34.7%, owning 552,850 shares worth $7.45 million after purchasing an additional 142,410 shares in the first quarter.
• Several large investors, including Price T Rowe Associates and Deep Track Capital, significantly boosted their positions in Viridian Therapeutics during the fourth quarter, reflecting growing interest in the company.
• Viridian Therapeutics reported a quarterly loss of ($0.87) EPS, surpassing estimates, and had a market cap of $1.41 billion, with analysts expecting a price target average of $37.56.

Victory Capital Management Inc. grew its stake in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 34.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 552,850 shares of the company's stock after buying an additional 142,410 shares during the quarter. Victory Capital Management Inc. owned 0.68% of Viridian Therapeutics worth $7,452,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in VRDN. Foresite Capital Management VI LLC purchased a new position in shares of Viridian Therapeutics in the fourth quarter worth about $38,000. Amalgamated Bank grew its holdings in Viridian Therapeutics by 49.7% in the 1st quarter. Amalgamated Bank now owns 2,531 shares of the company's stock worth $34,000 after acquiring an additional 840 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in Viridian Therapeutics by 24.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,646 shares of the company's stock worth $147,000 after acquiring an additional 1,516 shares during the last quarter. GAMMA Investing LLC grew its holdings in Viridian Therapeutics by 3,892.9% in the 1st quarter. GAMMA Investing LLC now owns 8,425 shares of the company's stock worth $114,000 after acquiring an additional 8,214 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Viridian Therapeutics during the 4th quarter valued at about $164,000.

Viridian Therapeutics Price Performance

Shares of VRDN traded down $0.23 during mid-day trading on Tuesday, reaching $17.04. The stock had a trading volume of 54,685 shares, compared to its average volume of 896,786. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -4.44 and a beta of 0.39. Viridian Therapeutics, Inc. has a 12 month low of $9.90 and a 12 month high of $27.20. The business has a fifty day moving average of $15.34 and a 200 day moving average of $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.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.87) earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.16 million. Viridian Therapeutics's revenue was up .0% on a year-over-year basis. Equities analysts predict that Viridian Therapeutics, Inc. will post -4.03 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on VRDN shares. Royal Bank Of Canada cut their target price on shares of Viridian Therapeutics from $46.00 to $45.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Needham & Company LLC reissued a "buy" rating and set a $36.00 price target on shares of Viridian Therapeutics in a research report on Tuesday, May 20th. HC Wainwright reissued a "buy" rating and set a $34.00 price target on shares of Viridian Therapeutics in a research report on Wednesday, April 23rd. JMP Securities decreased 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, The Goldman Sachs Group decreased their target price 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. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Viridian Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.56.

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.