Viridian Therapeutics, Inc. $VRDN is Yiheng Capital Management L.P.'s 10th Largest Position

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. lessened its position in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 33.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 500,261 shares of the company's stock after selling 250,000 shares during the period. Viridian Therapeutics makes up about 0.6% of Yiheng Capital Management L.P.'s holdings, making the stock its 10th largest position. Yiheng Capital Management L.P. owned 0.61% of Viridian Therapeutics worth $6,744,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Voya Investment Management LLC lifted its holdings in shares of Viridian Therapeutics by 5.1% in the 4th 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 in the last quarter. The Manufacturers Life Insurance Company increased its stake in Viridian Therapeutics by 101.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 49,720 shares of the company's stock valued at $953,000 after purchasing an additional 24,988 shares in the last quarter. Northern Trust Corp raised its holdings 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 buying an additional 112,534 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Viridian Therapeutics by 16.2% in the fourth quarter. Ameriprise Financial Inc. now owns 48,793 shares of the company's stock valued at $935,000 after buying an additional 6,806 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new position in shares of Viridian Therapeutics in the fourth quarter valued at $3,908,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on VRDN shares. Oppenheimer upped their target price on shares of Viridian Therapeutics from $28.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Wells Fargo & Company dropped their target price on Viridian Therapeutics from $27.00 to $26.00 and set an "equal weight" rating on the stock in a report on Thursday, August 7th. The Goldman Sachs Group lifted their target price on Viridian Therapeutics from $27.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Needham & Company LLC lowered their price target 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. Finally, Royal Bank Of Canada dropped 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. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $37.78.

Viridian Therapeutics Stock Performance

Viridian Therapeutics stock traded up $0.40 during mid-day trading on Tuesday, reaching $20.21. 1,175,086 shares of the company's stock were exchanged, compared to its average volume of 851,003. The business's fifty day simple moving average is $17.60 and its 200 day simple moving average is $15.27. 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 one year low of $9.90 and a one year high of $27.20. The firm has a market capitalization of $1.65 billion, a PE ratio of -5.28 and a beta of 0.53.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($1.00) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($1.00). The firm had revenue of $0.08 million during 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 business's revenue was up 4.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.81) EPS. On average, sell-side analysts expect that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current year.

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.