Wellington Management Group LLP Acquires 24,686 Shares of Viridian Therapeutics, Inc. $VRDN

Key Points

• Wellington Management Group LLP increased its stake in Viridian Therapeutics by 11.0%, now owning 249,170 shares valued at approximately $3.36 million.
• Viridian Therapeutics reported a quarterly earnings per share of ($1.00), aligning with analysts' expectations, while revenue increased by 4.2% year-over-year.
• Analysts have mixed ratings for Viridian Therapeutics, with a consensus price target of $37.78 and an average rating of "Moderate Buy."

Wellington Management Group LLP boosted its position in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 11.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 249,170 shares of the company's stock after buying an additional 24,686 shares during the quarter. Wellington Management Group LLP owned 0.31% of Viridian Therapeutics worth $3,359,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in VRDN. 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 during the last quarter. GAMMA Investing LLC lifted its holdings in Viridian Therapeutics by 3,892.9% during the 1st quarter. GAMMA Investing LLC now owns 8,425 shares of the company's stock worth $114,000 after buying an additional 8,214 shares during the last quarter. Brevan Howard Capital Management LP acquired a new position in shares of Viridian Therapeutics in the 4th quarter worth approximately $258,000. ProShare Advisors LLC increased its holdings in shares of Viridian Therapeutics by 74.1% in the 4th quarter. ProShare Advisors LLC now owns 20,584 shares of the company's stock valued at $395,000 after acquiring an additional 8,761 shares during the last quarter. Finally, Voya Investment Management LLC lifted its stake in Viridian Therapeutics by 5.1% during the fourth quarter. Voya Investment Management LLC now owns 21,397 shares of the company's stock worth $410,000 after purchasing an additional 1,038 shares during the last quarter.

Viridian Therapeutics Price Performance

VRDN traded up $0.11 during trading on Wednesday, reaching $19.25. The stock had a trading volume of 830,914 shares, compared to its average volume of 896,562. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of -5.02 and a beta of 0.53. 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, Inc. has a 1-year low of $9.90 and a 1-year high of $27.20. The stock has a 50 day moving average of $17.10 and a two-hundred day moving average of $15.17.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($1.00) EPS for the quarter, hitting analysts' consensus estimates 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 the consensus estimate of $0.05 million. During the same period in the previous year, the firm earned ($0.81) EPS. The business's revenue for the quarter was up 4.2% on a year-over-year basis. As a group, equities analysts anticipate that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Needham & Company LLC cut 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. Jefferies Financial Group assumed coverage on Viridian Therapeutics in a report on Monday, August 25th. They issued a "buy" rating and a $44.00 price target on the stock. The Goldman Sachs Group upped their price objective on Viridian Therapeutics from $27.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. JMP Securities lowered their price target on shares of Viridian Therapeutics from $42.00 to $38.00 and set a "market outperform" rating for the company in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company cut their price objective on shares of 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. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Viridian Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $37.78.

Viridian Therapeutics 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.