Octagon Capital Advisors LP Has $6.07 Million Holdings in Viridian Therapeutics, Inc. $VRDN

Key Points

• Octagon Capital Advisors LP reduced its stake in Viridian Therapeutics by 48.3%, now holding 450,000 shares, making it the firm's 27th largest position.
• Shares opened at $19.81, with a market cap of $1.62 billion and a PE ratio of -5.17.
• Analysts have varying price targets for VRDN, with Oppenheimer raising theirs to $32.00 and Jefferies initially setting a target at $44.00, while the consensus target stands at $37.78.

Octagon Capital Advisors LP reduced its holdings in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 48.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 450,000 shares of the company's stock after selling 420,000 shares during the quarter. Viridian Therapeutics makes up approximately 0.6% of Octagon Capital Advisors LP's holdings, making the stock its 27th biggest position. Octagon Capital Advisors LP owned approximately 0.55% of Viridian Therapeutics worth $6,066,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in VRDN. Amalgamated Bank boosted its holdings in 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 during the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Viridian Therapeutics by 198.2% during the 4th quarter. Nuveen Asset Management LLC now owns 681,012 shares of the company's stock worth $13,055,000 after buying an additional 452,627 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Viridian Therapeutics by 17.0% during the 1st quarter. Principal Financial Group Inc. now owns 208,836 shares of the company's stock worth $2,815,000 after buying an additional 30,392 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Viridian Therapeutics by 4.6% in the 1st quarter. Rhumbline Advisers now owns 104,559 shares of the company's stock valued at $1,409,000 after acquiring an additional 4,621 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Viridian Therapeutics by 29.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 115,782 shares of the company's stock valued at $2,220,000 after acquiring an additional 26,286 shares during the last quarter.

Analyst Ratings Changes

VRDN has been the subject of several recent research reports. Jefferies Financial Group initiated coverage on Viridian Therapeutics in a research report on Monday, August 25th. They set a "buy" rating and a $44.00 price target for the company. Wells Fargo & Company dropped their price objective on Viridian Therapeutics from $27.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 7th. Oppenheimer raised their target price on shares of Viridian Therapeutics from $28.00 to $32.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. Needham & Company LLC lowered their target price on shares of Viridian Therapeutics from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Finally, The Goldman Sachs Group upped their price target on shares of Viridian Therapeutics from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $37.78.

Viridian Therapeutics Stock Performance

Shares of VRDN traded down $0.78 during trading hours on Friday, hitting $18.87. The company had a trading volume of 448,146 shares, compared to its average volume of 855,908. The business has a fifty day moving average of $17.84 and a 200-day moving average of $15.35. The company has a quick ratio of 11.01, a current ratio of 11.01 and a debt-to-equity ratio of 0.04. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of -4.93 and a beta of 0.53. Viridian Therapeutics, Inc. has a 12 month low of $9.90 and a 12 month high of $27.20.

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