Lord Abbett & CO. LLC Grows Stock Position in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Lord Abbett & CO. LLC boosted its position in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 17.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 459,588 shares of the company's stock after buying an additional 67,630 shares during the period. Lord Abbett & CO. LLC owned 0.58% of Viridian Therapeutics worth $8,810,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Voya Investment Management LLC increased 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 valued at $410,000 after acquiring an additional 1,038 shares during the period. Adage Capital Partners GP L.L.C. increased its stake in Viridian Therapeutics by 38.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,670,000 shares of the company's stock valued at $32,014,000 after purchasing an additional 465,000 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Viridian Therapeutics by 2,847.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,326,811 shares of the company's stock valued at $25,436,000 after buying an additional 1,281,799 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of Viridian Therapeutics during the fourth quarter worth about $255,000. Finally, Silverarc Capital Management LLC purchased a new position in shares of Viridian Therapeutics during the fourth quarter worth about $1,917,000.

Analyst Upgrades and Downgrades

VRDN has been the subject of a number of recent research reports. Needham & Company LLC reaffirmed a "buy" rating and set a $38.00 price objective on shares of Viridian Therapeutics in a research report on Tuesday, January 7th. HC Wainwright reiterated a "buy" rating and issued a $34.00 price objective on shares of Viridian Therapeutics in a research report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $35.70.

Viridian Therapeutics Price Performance

Viridian Therapeutics stock traded down $0.12 during midday trading on Friday, reaching $13.62. The company's stock had a trading volume of 1,086,013 shares, compared to its average volume of 1,198,369. The firm has a market capitalization of $1.11 billion, a PE ratio of -3.16 and a beta of 0.81. Viridian Therapeutics, Inc. has a fifty-two week low of $9.90 and a fifty-two week high of $27.20. The stock's 50 day simple moving average is $13.97 and its 200 day simple moving average is $17.89. The company has a debt-to-equity ratio of 0.04, a quick ratio of 18.55 and a current ratio of 18.55.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.81) EPS for the quarter, topping analysts' consensus estimates of ($1.05) by $0.24. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. The firm had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.05 million. On average, equities research analysts forecast that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current year.

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.