Viridian Therapeutics, Inc. $VRDN Shares Sold by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. reduced its stake in Viridian Therapeutics by 11.6%, selling 265,375 shares in the first quarter, now holding approximately 2.48% of the company valued at $27.25 million.
• Several institutions significantly increased their holdings in Viridian, with notable growth from Northern Trust Corp and Bank of America Corp DE, highlighting increasing institutional interest in the company.
• Analysts have optimistic views on Viridian's stock, with Oppenheimer raising its price target from $28.00 to $32.00, contributing to an average target price of $37.78 across nine buy ratings.

Alliancebernstein L.P. reduced its stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 11.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,021,619 shares of the company's stock after selling 265,375 shares during the quarter. Alliancebernstein L.P. owned about 2.48% of Viridian Therapeutics worth $27,251,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. ADAR1 Capital Management LLC lifted its position in shares of Viridian Therapeutics by 203.8% in the first quarter. ADAR1 Capital Management LLC now owns 79,000 shares of the company's stock valued at $1,065,000 after acquiring an additional 53,000 shares in the last quarter. Maverick Capital Ltd. lifted its position in shares of Viridian Therapeutics by 0.4% in the first quarter. Maverick Capital Ltd. now owns 2,061,274 shares of the company's stock valued at $27,786,000 after acquiring an additional 7,368 shares in the last quarter. Paradigm Biocapital Advisors LP lifted its position in shares of Viridian Therapeutics by 15.1% in the first quarter. Paradigm Biocapital Advisors LP now owns 2,095,079 shares of the company's stock valued at $28,242,000 after acquiring an additional 275,000 shares in the last quarter. Panagora Asset Management Inc. lifted its position in shares of Viridian Therapeutics by 40.2% in the first quarter. Panagora Asset Management Inc. now owns 354,739 shares of the company's stock valued at $4,782,000 after acquiring an additional 101,717 shares in the last quarter. Finally, Affinity Asset Advisors LLC lifted its position in shares of Viridian Therapeutics by 144.3% in the first quarter. Affinity Asset Advisors LLC now owns 390,000 shares of the company's stock valued at $5,257,000 after acquiring an additional 230,386 shares in the last quarter.

Analysts Set New Price Targets

VRDN has been the topic of several recent research reports. Wells Fargo & Company reduced their price objective on Viridian Therapeutics from $27.00 to $26.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 7th. Jefferies Financial Group started coverage on Viridian Therapeutics in a research report on Monday, August 25th. They issued a "buy" rating and a $44.00 price objective on the stock. Oppenheimer increased their target price on Viridian Therapeutics from $28.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Needham & Company LLC reduced their target price on Viridian Therapeutics from $36.00 to $34.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Finally, The Goldman Sachs Group increased their target price on Viridian Therapeutics from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Viridian Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $37.78.

Viridian Therapeutics Trading Down 4.6%

NASDAQ:VRDN traded down $0.86 on Monday, hitting $18.01. 842,415 shares of the stock were exchanged, compared to its average volume of 833,731. The stock has a market cap of $1.47 billion, a PE ratio of -4.70 and a beta of 0.53. The company has a current ratio of 11.01, a quick ratio of 11.01 and a debt-to-equity ratio of 0.04. The stock has a fifty day moving average of $17.88 and a 200-day moving average of $15.37. Viridian Therapeutics, Inc. has a fifty-two week low of $9.90 and a fifty-two week high of $27.20.

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

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.