Silverarc Capital Management LLC Takes $1.92 Million Position in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Silverarc Capital Management LLC purchased a new position in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 100,000 shares of the company's stock, valued at approximately $1,917,000. Silverarc Capital Management LLC owned about 0.13% of Viridian Therapeutics at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in VRDN. Barclays PLC lifted its position in Viridian Therapeutics by 113.1% during the 3rd quarter. Barclays PLC now owns 125,397 shares of the company's stock worth $2,851,000 after acquiring an additional 66,550 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Viridian Therapeutics by 5.8% during the third quarter. Geode Capital Management LLC now owns 1,493,311 shares of the company's stock worth $33,979,000 after purchasing an additional 81,951 shares during the period. Exome Asset Management LLC purchased a new stake in Viridian Therapeutics in the third quarter valued at approximately $3,968,000. Lord Abbett & CO. LLC acquired a new stake in shares of Viridian Therapeutics in the third quarter worth $8,917,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Viridian Therapeutics by 1,603.4% in the third quarter. Principal Financial Group Inc. now owns 172,810 shares of the company's stock worth $3,931,000 after buying an additional 162,665 shares during the last quarter.

Viridian Therapeutics Price Performance

Shares of NASDAQ VRDN traded down $0.06 during mid-day trading on Friday, reaching $13.50. The company's stock had a trading volume of 524,676 shares, compared to its average volume of 1,203,124. The stock has a 50-day moving average of $14.24 and a two-hundred day moving average of $18.24. The company has a debt-to-equity ratio of 0.04, a quick ratio of 18.55 and a current ratio of 18.55. The stock has a market capitalization of $1.10 billion, a P/E ratio of -3.13 and a beta of 0.81. Viridian Therapeutics, Inc. has a 1-year low of $9.90 and a 1-year high of $27.20.

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, beating analysts' consensus estimates of ($1.05) by $0.24. The company had revenue of $0.07 million during the quarter, compared to the consensus estimate of $0.05 million. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. On average, equities research analysts anticipate that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

VRDN has been the subject of a number of analyst reports. HC Wainwright reiterated a "buy" rating and issued a $34.00 price objective on shares of Viridian Therapeutics in a research report on Wednesday. Needham & Company LLC reissued a "buy" rating and issued a $38.00 price objective on shares of Viridian Therapeutics in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.70.

Viridian Therapeutics Company 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.