Paradigm Biocapital Advisors LP Has $28.24 Million Stock Holdings in Viridian Therapeutics, Inc. $VRDN

Key Points

• Paradigm Biocapital Advisors LP increased its stake in Viridian Therapeutics by 15.1%, owning over 2 million shares valued at approximately $28 million.
• Viridian Therapeutics reported a quarterly earnings per share of (1.00), matching analyst estimates, with a revenue of $0.08 million for the quarter.
• Analysts have set a consensus rating of "Moderate Buy" for Viridian, with price targets ranging from $26.00 to $41.00, indicating optimism about the company's future performance.

Paradigm Biocapital Advisors LP lifted its stake in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 15.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,095,079 shares of the company's stock after buying an additional 275,000 shares during the quarter. Viridian Therapeutics makes up approximately 1.3% of Paradigm Biocapital Advisors LP's portfolio, making the stock its 20th biggest position. Paradigm Biocapital Advisors LP owned 2.57% of Viridian Therapeutics worth $28,242,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Deep Track Capital LP grew its holdings in Viridian Therapeutics by 20.6% during the 4th quarter. Deep Track Capital LP now owns 4,522,741 shares of the company's stock valued at $86,701,000 after buying an additional 771,796 shares during the last quarter. Tang Capital Management LLC boosted its holdings in shares of Viridian Therapeutics by 11.1% in the fourth quarter. Tang Capital Management LLC now owns 2,492,925 shares of the company's stock valued at $47,789,000 after acquiring an additional 250,000 shares in the last quarter. Parkman Healthcare Partners LLC lifted 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 valued at $20,850,000 after buying an additional 662,634 shares in the last quarter. Candriam S.C.A. raised its holdings in shares of Viridian Therapeutics by 20.4% during the first quarter. Candriam S.C.A. now owns 880,430 shares of the company's stock worth $11,868,000 after acquiring an additional 149,209 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Viridian Therapeutics by 1.2% in the 1st quarter. Northern Trust Corp now owns 702,517 shares of the company's stock worth $9,470,000 after acquiring an additional 8,375 shares during the period.

Analysts Set New Price Targets

A number of research firms have recently weighed in on VRDN. The Goldman Sachs Group increased their price target on Viridian Therapeutics from $27.00 to $30.00 and gave the company a "buy" rating in a research note 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 for the company in a research note on Wednesday, August 6th. Royal Bank Of Canada lowered their price objective 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. Jefferies Financial Group began coverage on shares of Viridian Therapeutics in a research report on Monday, August 25th. They set a "buy" rating and a $44.00 price target for the company. Finally, Oppenheimer upped their price objective on Viridian Therapeutics from $28.00 to $32.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.78.

Viridian Therapeutics Trading Up 1.7%

Shares of NASDAQ:VRDN traded up $0.33 during trading on Wednesday, hitting $19.47. 1,095,915 shares of the stock were exchanged, compared to its average volume of 834,472. The company has a fifty day moving average price of $17.10 and a two-hundred day moving average price of $15.17. The company has a debt-to-equity ratio of 0.04, a current ratio of 11.01 and a quick ratio of 11.01. 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 released 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 net margin of 112,806.88% and a negative return on equity of 78.95%. The business had revenue of $0.08 million for the quarter, compared to analysts' expectations of $0.05 million. During the same period last year, the company earned ($0.81) earnings per share. The company's quarterly revenue was up 4.2% on a year-over-year basis. On average, research analysts expect 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.