Wellington Management Group LLP Increases Stock Position in Viridian Therapeutics, Inc. $VRDN

Key Points

• Wellington Management increased its Viridian Therapeutics stake by 1.6% in the second quarter, holding 3.13 million shares valued at approximately $57.5 million, or 2.76% of the company.
• Analyst sentiment is largely positive: 12 analysts rate VRDN a Buy and one rates it a Sell, producing a consensus “Moderate Buy” rating and an average price target of $38.54.
• Viridian shares opened at $22.96, while the company reported a quarterly loss of $1.05 per share—slightly worse than estimates—and continues developing antibody therapies for thyroid eye disease and other serious conditions.

Wellington Management Group LLP lifted its position in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 1.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,128,362 shares of the company's stock after purchasing an additional 49,808 shares during the period. Wellington Management Group LLP owned 2.76% of Viridian Therapeutics worth $57,468,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Viridian Therapeutics by 1.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company's stock valued at $669,000 after purchasing an additional 876 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Viridian Therapeutics by 33.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,231,092 shares of the company's stock worth $16,595,000 after buying an additional 310,998 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Viridian Therapeutics by 12.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 130,570 shares of the company's stock worth $1,760,000 after acquiring an additional 14,788 shares in the last quarter. Envestnet Asset Management Inc. bought a new stake in Viridian Therapeutics in the second quarter worth $187,000. Finally, Creative Planning purchased a new stake in shares of Viridian Therapeutics in the second quarter worth $179,000.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on VRDN shares. Wells Fargo & Company upgraded Viridian Therapeutics from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $20.00 to $31.00 in a report on Monday, June 29th. Wedbush raised their price objective on shares of Viridian Therapeutics from $32.00 to $43.00 and gave the company an "outperform" rating in a research note on Tuesday, June 30th. Wall Street Zen cut shares of Viridian Therapeutics from a "sell" rating to a "strong sell" rating in a report on Saturday, August 1st. The Goldman Sachs Group reiterated a "buy" rating and issued a $39.00 target price on shares of Viridian Therapeutics in a research note on Tuesday, June 30th. Finally, Evercore set a $26.00 price target on shares of Viridian Therapeutics in a report on Friday, May 15th. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $38.54.

Viridian Therapeutics Trading Up 0.8%

Shares of NASDAQ:VRDN opened at $22.96 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 16.95 and a quick ratio of 16.95. Viridian Therapeutics, Inc. has a 1 year low of $13.18 and a 1 year high of $34.29. The company has a market cap of $2.60 billion, a P/E ratio of -6.81 and a beta of 0.97. The stock's fifty day moving average price is $21.01 and its 200-day moving average price is $20.52.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.02). Viridian Therapeutics had a negative return on equity of 72.97% and a negative net margin of 505.86%.The business had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.06 million. Sell-side analysts expect that Viridian Therapeutics, Inc. will post -4.07 earnings per share for the current year.

Insider Activity at Viridian Therapeutics

In other news, insider Jennifer Tousignant sold 14,212 shares of the business's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $24.50, for a total transaction of $348,194.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is owned by corporate insiders.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc NASDAQ: VRDN is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted antibody therapeutics for patients suffering from rare and serious diseases. The company's lead program, VRDN-001, is a fully human monoclonal antibody that antagonizes the insulin-like growth factor-1 receptor (IGF-1R), with an initial focus on thyroid eye disease (TED). By selectively inhibiting IGF-1R signaling, VRDN-001 aims to reduce inflammation and tissue remodeling associated with TED and related disorders.

In addition to VRDN-001, Viridian is advancing a second antibody program, VRDN-002, which targets complement-mediated pathways implicated in autoimmune and inflammatory diseases.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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