Yiheng Capital Management L.P. Cuts Stock Position in Viridian Therapeutics, Inc. $VRDN

Key Points

• Yiheng Capital Management L.P. decreased its holdings in Viridian Therapeutics by 33.3%, selling 250,000 shares and now owning 500,261 shares valued at approximately $6.74 million.
• Analysts have updated their price targets for Viridian, with Goldman Sachs increasing their target from $27.00 to $30.00 and Needham & Company lowering theirs from $36.00 to $34.00, reflecting varying opinions on the stock's potential.
• Viridian Therapeutics reported (-$1.00) earnings per share for the last quarter, aligning with analyst expectations, while revenue was slightly up (4.2%) year-over-year.

Yiheng Capital Management L.P. cut its position in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 33.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 500,261 shares of the company's stock after selling 250,000 shares during the quarter. Viridian Therapeutics accounts for about 0.6% of Yiheng Capital Management L.P.'s portfolio, making the stock its 10th largest holding. Yiheng Capital Management L.P. owned about 0.61% of Viridian Therapeutics worth $6,744,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Amalgamated Bank raised its position in shares of Viridian Therapeutics by 49.7% in the 1st quarter. Amalgamated Bank now owns 2,531 shares of the company's stock valued at $34,000 after buying an additional 840 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of Viridian Therapeutics by 198.2% in the 4th quarter. Nuveen Asset Management LLC now owns 681,012 shares of the company's stock valued at $13,055,000 after buying an additional 452,627 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Viridian Therapeutics by 17.0% in the 1st quarter. Principal Financial Group Inc. now owns 208,836 shares of the company's stock valued at $2,815,000 after buying an additional 30,392 shares in the last quarter. Rhumbline Advisers raised its position 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 buying an additional 4,621 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Viridian Therapeutics by 29.4% in the 4th 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 buying an additional 26,286 shares in the last quarter.

Viridian Therapeutics Trading Down 3.0%

NASDAQ VRDN traded down $0.58 on Friday, hitting $19.07. The company's stock had a trading volume of 171,341 shares, compared to its average volume of 892,536. The company's 50-day moving average is $17.77 and its 200 day moving average is $15.33. 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 firm has a market cap of $1.56 billion, a PE ratio of -4.98 and a beta of 0.53.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($1.00) EPS for the quarter, meeting 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 company had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.05 million. During the same period in the prior year, the firm posted ($0.81) EPS. The company's quarterly revenue was up 4.2% on a year-over-year basis. As a group, analysts predict that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on VRDN shares. Wells Fargo & Company lowered their price objective on shares of Viridian Therapeutics from $27.00 to $26.00 and set an "equal weight" rating for the company in a research report on Thursday, August 7th. Needham & Company LLC lowered their price objective on shares of Viridian Therapeutics from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. The Goldman Sachs Group upped their price objective 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. Jefferies Financial Group started coverage on shares of Viridian Therapeutics in a research report on Monday, August 25th. They set a "buy" rating and a $44.00 price objective for the company. Finally, Royal Bank Of Canada lowered their price objective on shares of Viridian Therapeutics from $45.00 to $41.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $37.78.

About Viridian Therapeutics

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.