Viridian Therapeutics, Inc. $VRDN Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. has reduced its stake in Viridian Therapeutics by 0.7%, now holding approximately 4.56 million shares valued at about $61.5 million.
• Several institutional investors have increased their positions in Viridian, with Amalgamated Bank raising its stake by 49.7% in the first quarter.
• Analysts have mixed outlooks on Viridian Therapeutics, with target prices ranging from $26 to $38, and a consensus rating of "Moderate Buy" from nine analysts.

Vanguard Group Inc. lowered its stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 0.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,563,100 shares of the company's stock after selling 31,949 shares during the quarter. Vanguard Group Inc. owned about 5.59% of Viridian Therapeutics worth $61,511,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Deep Track Capital LP increased its stake 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 worth $86,701,000 after purchasing an additional 771,796 shares during the period. Tang Capital Management LLC increased its stake in Viridian Therapeutics by 11.1% during the fourth quarter. Tang Capital Management LLC now owns 2,492,925 shares of the company's stock worth $47,789,000 after purchasing an additional 250,000 shares during the period. Price T Rowe Associates Inc. MD increased its stake 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 worth $25,436,000 after purchasing an additional 1,281,799 shares during the period. Parkman Healthcare Partners LLC increased its stake 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 worth $20,850,000 after purchasing an additional 662,634 shares during the period. Finally, Northern Trust Corp increased its stake in Viridian Therapeutics by 19.3% during the fourth quarter. Northern Trust Corp now owns 694,142 shares of the company's stock worth $13,307,000 after purchasing an additional 112,534 shares during the period.

Analysts Set New Price Targets

A number of brokerages have issued reports on VRDN. JMP Securities cut their price target on shares of 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. Needham & Company LLC lowered their price objective on Viridian Therapeutics from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Oppenheimer boosted their price objective on Viridian Therapeutics from $28.00 to $32.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Jefferies Financial Group started coverage on Viridian Therapeutics in a research report on Monday. They set a "buy" rating and a $44.00 price objective for the company. Finally, The Goldman Sachs Group boosted their target price on Viridian Therapeutics from $27.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.78.

Viridian Therapeutics Stock Performance

VRDN traded down $0.10 during trading on Wednesday, hitting $18.56. 522,453 shares of the stock were exchanged, compared to its average volume of 897,671. The firm has a market capitalization of $1.52 billion, a P/E ratio of -4.85 and a beta of 0.42. Viridian Therapeutics, Inc. has a 1-year low of $9.90 and a 1-year high of $27.20. The stock has a fifty day moving average price of $16.73 and a two-hundred day moving average price of $15.12. The company has a quick ratio of 11.01, a current ratio of 11.01 and a debt-to-equity ratio of 0.04.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last released 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 for 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.81) earnings per share. As a group, sell-side analysts predict that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current 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.