Candriam S.C.A. Raises Holdings in Viridian Therapeutics, Inc. $VRDN

Key Points

• Candriam S.C.A. increased its holdings in Viridian Therapeutics by 20.4%, owning approximately 880,430 shares worth $11.87 million after acquiring 149,209 shares in the first quarter.
• Analysts predict Viridian Therapeutics will post -4.03 EPS for the current year, with some recent reports adjusting target prices down to as low as $26.00.
• Viridian's stock has a market capitalization of $1.47 billion and has seen significant fluctuations, with a fifty-two week range between $9.90 and $27.20.

Candriam S.C.A. boosted its stake in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 20.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 880,430 shares of the company's stock after acquiring an additional 149,209 shares during the quarter. Candriam S.C.A. owned 1.08% of Viridian Therapeutics worth $11,868,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of VRDN. Price T Rowe Associates Inc. MD raised its position in Viridian Therapeutics by 2,847.7% during 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 acquiring an additional 1,281,799 shares in the last quarter. Deep Track Capital LP raised its position in 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 acquiring an additional 771,796 shares in the last quarter. Parkman Healthcare Partners LLC raised its position in Viridian Therapeutics by 155.9% during the fourth quarter. Parkman Healthcare Partners LLC now owns 1,087,634 shares of the company's stock valued at $20,850,000 after acquiring an additional 662,634 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in 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 acquiring an additional 465,000 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its position in Viridian Therapeutics by 198.2% during the fourth quarter. Nuveen Asset Management LLC now owns 681,012 shares of the company's stock valued at $13,055,000 after acquiring an additional 452,627 shares in the last quarter.

Viridian Therapeutics Trading Up 6.7%

Shares of Viridian Therapeutics stock traded up $1.21 during trading hours on Friday, hitting $19.23. The company's stock had a trading volume of 1,399,439 shares, compared to its average volume of 881,306. Viridian Therapeutics, Inc. has a twelve month low of $9.90 and a twelve month high of $27.20. The firm has a fifty day moving average of $16.60 and a 200-day moving average of $15.09. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -5.02 and a beta of 0.42. The company has a debt-to-equity ratio of 0.04, a quick ratio of 11.01 and a current ratio of 11.01.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($1.00) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($1.00). Viridian Therapeutics had a negative return on equity of 78.95% and a negative net margin of 112,806.88%.The firm had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.05 million. During the same quarter in the prior year, the company earned ($0.81) EPS. Viridian Therapeutics's revenue was up 4.2% on a year-over-year basis. Research analysts forecast that Viridian Therapeutics, Inc. will post -4.03 EPS for the current year.

Wall Street Analysts Forecast Growth

VRDN has been the subject of several recent research reports. The Goldman Sachs Group lifted their price target on Viridian Therapeutics from $27.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Wells Fargo & Company cut their price objective on Viridian Therapeutics from $27.00 to $26.00 and set an "equal weight" rating for the company in a research report on Thursday, August 7th. JMP Securities lowered their price target on Viridian Therapeutics from $42.00 to $38.00 and set a "market outperform" rating on the stock in a research note on Wednesday, May 7th. Royal Bank Of Canada lowered their price target on Viridian Therapeutics from $45.00 to $41.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Finally, Needham & Company LLC lowered their price target on Viridian Therapeutics from $36.00 to $34.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Viridian Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.00.

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.