Alliancebernstein L.P. Lowers Stock Position in Viridian Therapeutics, Inc. $VRDN

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. trimmed its position in shares of 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 and Exchange Commission. The fund owned 2,021,619 shares of the company's stock after selling 265,375 shares during the quarter. Alliancebernstein L.P. owned approximately 2.48% of Viridian Therapeutics worth $27,251,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Amalgamated Bank lifted its position in shares of Viridian Therapeutics by 49.7% during the first quarter. Amalgamated Bank now owns 2,531 shares of the company's stock worth $34,000 after purchasing an additional 840 shares in the last quarter. GAMMA Investing LLC raised its holdings in Viridian Therapeutics by 3,892.9% in the first quarter. GAMMA Investing LLC now owns 8,425 shares of the company's stock worth $114,000 after purchasing an additional 8,214 shares during the period. EntryPoint Capital LLC bought a new stake in shares of Viridian Therapeutics during the first quarter worth $185,000. ProShare Advisors LLC raised its holdings in shares of Viridian Therapeutics by 74.1% during the fourth quarter. ProShare Advisors LLC now owns 20,584 shares of the company's stock worth $395,000 after acquiring an additional 8,761 shares during the period. Finally, Quantbot Technologies LP raised its holdings in shares of Viridian Therapeutics by 146.4% during the first quarter. Quantbot Technologies LP now owns 21,131 shares of the company's stock worth $285,000 after acquiring an additional 12,556 shares during the period.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on VRDN. Jefferies Financial Group started coverage on shares of Viridian Therapeutics in a research report on Monday, August 25th. They issued a "buy" rating and a $44.00 target price for the company. Royal Bank Of Canada dropped their price objective on shares of Viridian Therapeutics from $45.00 to $41.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. The Goldman Sachs Group boosted their target price on shares of 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 decreased their price target on shares of Viridian Therapeutics from $27.00 to $26.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. Finally, Oppenheimer lifted their price target on shares of Viridian Therapeutics from $28.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Viridian Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.78.

Viridian Therapeutics Stock Down 4.0%

Shares of Viridian Therapeutics stock traded down $0.78 during trading on Friday, reaching $18.87. 448,146 shares of the company traded hands, compared to its average volume of 855,908. The company has a debt-to-equity ratio of 0.04, a current ratio of 11.01 and a quick ratio of 11.01. The company has a 50 day moving average price of $17.84 and a 200-day moving average price of $15.35. Viridian Therapeutics, Inc. has a 1-year low of $9.90 and a 1-year high of $27.20. The firm has a market capitalization of $1.54 billion, a PE ratio of -4.93 and a beta of 0.53.

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

About Viridian Therapeutics

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.