Viridian Therapeutics, Inc. $VRDN Shares Newly Acquired by AMI Asset Management Corp

Key Points

• AMI Asset Management acquired 49,959 shares of Viridian Therapeutics in the third quarter, valued at approximately $1.03 million. Several other major institutional investors also initiated positions during the second quarter.
• Analyst sentiment remains broadly positive: 11 analysts rate VRDN a Buy and one rates it a Sell, producing a “Moderate Buy” consensus and an average price target of $38.92.
• Viridian’s stock was recently up 7.8% and opened at $22.43, but the clinical-stage biotech continues to report losses, including quarterly EPS of negative $1.05 versus the expected negative $1.03.

AMI Asset Management Corp purchased a new stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 49,959 shares of the company's stock, valued at approximately $1,029,000.

Other large investors have also recently bought and sold shares of the company. Parkman Healthcare Partners LLC acquired a new stake in Viridian Therapeutics during the 2nd quarter worth approximately $25,306,000. Rice Hall James & Associates LLC bought a new position in Viridian Therapeutics during the 2nd quarter worth $21,601,000. Elmind Capital LP acquired a new stake in shares of Viridian Therapeutics during the second quarter worth $18,093,182. Bank of America Corp DE acquired a new stake in shares of Viridian Therapeutics during the second quarter worth $17,348,000. Finally, Deutsche Bank AG bought a new stake in shares of Viridian Therapeutics in the second quarter valued at about $8,870,000.

Insider Activity

In related news, insider Jennifer Tousignant sold 14,212 shares of Viridian Therapeutics 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 2.40% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on VRDN shares. Wall Street Zen downgraded shares of Viridian Therapeutics from a "sell" rating to a "strong sell" rating in a research note on Sunday, October 4th. Wedbush raised their price target on shares of Viridian Therapeutics from $32.00 to $43.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 30th. Weiss Ratings upgraded shares of Viridian Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, September 14th. Truist Financial lifted their price objective on shares of Viridian Therapeutics from $38.00 to $39.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Finally, Royal Bank Of Canada boosted their price objective on shares of Viridian Therapeutics from $36.00 to $38.00 and gave the company an "outperform" rating in a report on Tuesday, September 22nd. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $38.92.

Viridian Therapeutics Stock Up 7.8%

VRDN stock opened at $22.43 on Wednesday. The company has a market cap of $2.54 billion, a PE ratio of -6.66 and a beta of 1.11. The business has a 50-day simple moving average of $21.59 and a 200 day simple moving average of $18.88. Viridian Therapeutics, Inc. has a 52 week low of $13.18 and a 52 week high of $34.29. The company has a quick ratio of 16.95, a current ratio of 16.95 and a debt-to-equity ratio of 0.43.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.02). The firm had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.06 million. Viridian Therapeutics had a negative return on equity of 72.97% and a negative net margin of 505.86%. Sell-side analysts anticipate that Viridian Therapeutics, Inc. will post -4.07 EPS for the current fiscal year.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious autoimmune diseases. The company's lead research area is thyroid eye disease (TED), a debilitating condition that can cause eye inflammation, swelling, pain and vision-related complications.

Viridian's pipeline is centered on antibodies designed to inhibit the insulin-like growth factor-1 receptor (IGF-1R), a target associated with TED. Its investigational therapies include veligrotug (VRDN-001), an intravenous treatment candidate, and VRDN-003, a subcutaneous formulation being developed to provide a more convenient administration option.

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