Yiheng Capital Management L.P. Has $7.36 Million Holdings in Viridian Therapeutics, Inc. $VRDN

Key Points

• Yiheng Capital Management increased its Viridian Therapeutics stake by 91.9% in the second quarter, holding 400,464 shares worth approximately $7.36 million, or 0.35% of the company.
• Viridian reported a quarterly loss of $1.05 per share, slightly worse than the $1.03 consensus estimate, while revenue of $0.28 million exceeded expectations. Analysts project a full-year loss of $4.07 per share.
• Analysts maintain a generally positive view, with 12 Buy ratings and one Sell rating, producing a “Moderate Buy” consensus and an average price target of $38.54 versus the stock’s reported $23.08 price.

Yiheng Capital Management L.P. boosted its stake in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 91.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 400,464 shares of the company's stock after buying an additional 191,729 shares during the period. Viridian Therapeutics makes up approximately 2.5% of Yiheng Capital Management L.P.'s holdings, making the stock its 10th biggest holding. Yiheng Capital Management L.P. owned 0.35% of Viridian Therapeutics worth $7,357,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. MetLife Investment Management LLC increased its holdings in Viridian Therapeutics by 0.8% during the 4th quarter. MetLife Investment Management LLC now owns 43,985 shares of the company's stock worth $1,369,000 after purchasing an additional 356 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Viridian Therapeutics by 0.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,360 shares of the company's stock valued at $4,337,000 after buying an additional 380 shares during the last quarter. US Bancorp DE raised its position in Viridian Therapeutics by 23.2% in the 3rd quarter. US Bancorp DE now owns 2,457 shares of the company's stock valued at $53,000 after buying an additional 463 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Viridian Therapeutics by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 216,525 shares of the company's stock valued at $4,235,000 after acquiring an additional 659 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Viridian Therapeutics by 1.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company's stock valued at $669,000 after acquiring an additional 876 shares in the last quarter.

Viridian Therapeutics Price Performance

NASDAQ:VRDN opened at $23.08 on Monday. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of -6.85 and a beta of 0.91. Viridian Therapeutics, Inc. has a twelve month low of $13.18 and a twelve month high of $34.29. The stock's 50 day moving average price is $20.56 and its two-hundred day moving average price is $20.69. The company has a quick ratio of 16.95, a current ratio of 16.95 and a debt-to-equity ratio of 0.43.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on VRDN shares. Weiss Ratings cut shares of Viridian Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, June 30th. Wedbush increased their target price on shares of Viridian Therapeutics from $32.00 to $43.00 and gave the stock an "outperform" rating in a report on Tuesday, June 30th. Needham & Company LLC reaffirmed a "buy" rating and issued a $32.00 target price on shares of Viridian Therapeutics in a research report on Monday, June 29th. The Goldman Sachs Group reiterated a "buy" rating and issued a $39.00 price target on shares of Viridian Therapeutics in a research note on Tuesday, June 30th. Finally, Stifel Nicolaus set a $39.00 price target on shares of Viridian Therapeutics in a research report on Wednesday, May 13th. Twelve research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.54.

Insider Transactions at Viridian Therapeutics

In other Viridian Therapeutics news, insider Jennifer Tousignant sold 14,212 shares of the company's stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $24.50, for a total value of $348,194.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.40% of the stock is owned by corporate insiders.

Viridian Therapeutics 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.

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