Millennium Management LLC Reduces Stock Position in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Millennium Management LLC cut its holdings in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 45.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 365,972 shares of the company's stock after selling 302,064 shares during the period. Millennium Management LLC owned approximately 0.46% of Viridian Therapeutics worth $7,016,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in VRDN. Loomis Sayles & Co. L P bought a new position in shares of Viridian Therapeutics in the 4th quarter worth about $26,845,000. Price T Rowe Associates Inc. MD increased its stake in Viridian Therapeutics by 2,847.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,326,811 shares of the company's stock valued at $25,436,000 after purchasing an additional 1,281,799 shares in the last quarter. Deep Track Capital LP grew its holdings 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 valued at $86,701,000 after buying an additional 771,796 shares during the last quarter. FMR LLC grew its holdings 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 buying an additional 698,434 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its holdings in shares of Viridian Therapeutics by 38.6% during 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 buying an additional 465,000 shares during the last quarter.

Viridian Therapeutics Stock Down 0.6%

NASDAQ:VRDN traded down $0.09 on Friday, reaching $13.89. 301,426 shares of the stock traded hands, compared to its average volume of 1,188,539. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -3.22 and a beta of 0.57. The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04. Viridian Therapeutics, Inc. has a 12 month low of $9.90 and a 12 month high of $27.20. The company's fifty day simple moving average is $13.04 and its 200 day simple moving average is $16.55.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.87) earnings per share for the quarter, beating analysts' consensus estimates of ($0.95) by $0.08. The business had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.16 million. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. The firm's quarterly 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 fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. HC Wainwright reiterated a "buy" rating and issued a $34.00 target price on shares of Viridian Therapeutics in a research note on Wednesday, April 23rd. The Goldman Sachs Group decreased their price target on shares of Viridian Therapeutics from $31.00 to $27.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Royal Bank of Canada decreased their price objective on shares of Viridian Therapeutics from $46.00 to $45.00 and set an "outperform" rating on the stock in a research 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 research report on Wednesday, May 7th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $36.00 target price on shares of Viridian Therapeutics in a research report on Tuesday, May 20th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $36.70.

Viridian Therapeutics 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.