First Turn Management LLC Makes New Investment in Viridian Therapeutics, Inc. $VRDN

First Turn Management LLC acquired a new position in Viridian Therapeutics, Inc. (NASDAQ:VRDN) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 690,528 shares of the company’s stock, valued at approximately $21,489,000. Viridian Therapeutics accounts for about 2.5% of First Turn Management LLC’s portfolio, making the stock its 19th largest holding.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Viridian Therapeutics by 29.6% in the fourth quarter. Vanguard Group Inc. now owns 5,612,144 shares of the company’s stock worth $174,650,000 after acquiring an additional 1,280,161 shares during the period. Commodore Capital LP raised its position in shares of Viridian Therapeutics by 35.4% in the second quarter. Commodore Capital LP now owns 4,875,000 shares of the company’s stock worth $68,152,000 after acquiring an additional 1,275,000 shares during the period. State Street Corp raised its position in shares of Viridian Therapeutics by 35.7% in the fourth quarter. State Street Corp now owns 3,466,560 shares of the company’s stock worth $107,879,000 after acquiring an additional 912,394 shares during the period. Geode Capital Management LLC raised its position in shares of Viridian Therapeutics by 12.8% in the fourth quarter. Geode Capital Management LLC now owns 1,992,174 shares of the company’s stock worth $62,007,000 after acquiring an additional 225,987 shares during the period. Finally, Fisher Asset Management LLC raised its position in shares of Viridian Therapeutics by 48.2% in the fourth quarter. Fisher Asset Management LLC now owns 1,780,284 shares of the company’s stock worth $55,402,000 after acquiring an additional 579,058 shares during the period.

Analysts Set New Price Targets

A number of brokerages have weighed in on VRDN. Stifel Nicolaus set a $39.00 price objective on shares of Viridian Therapeutics in a research report on Wednesday, May 13th. Needham & Company LLC reiterated a “buy” rating and issued a $32.00 price objective on shares of Viridian Therapeutics in a research report on Tuesday, May 5th. HC Wainwright decreased their price objective on shares of Viridian Therapeutics from $34.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday, March 31st. Truist Financial decreased their price objective on shares of Viridian Therapeutics from $36.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Finally, Wall Street Zen upgraded shares of Viridian Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday. Twelve analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.14.

Viridian Therapeutics Stock Up 1.3%

VRDN opened at $16.35 on Friday. Viridian Therapeutics, Inc. has a twelve month low of $13.18 and a twelve month high of $34.29. The company has a quick ratio of 15.15, a current ratio of 15.15 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average price of $15.96 and a 200 day moving average price of $25.29. The company has a market cap of $1.69 billion, a PE ratio of -4.92 and a beta of 0.90.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.90) earnings per share for the quarter, topping the consensus estimate of ($1.06) by $0.16. Viridian Therapeutics had a negative net margin of 490.31% and a negative return on equity of 80.19%. The firm had revenue of $0.14 million during the quarter, compared to the consensus estimate of $0.04 million. During the same quarter in the prior year, the firm earned ($0.87) EPS. The company’s revenue for the quarter was up 95.8% on a year-over-year basis. Sell-side analysts expect that Viridian Therapeutics, Inc. will post -3.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Viridian Therapeutics

In related news, Director Fairmount Funds Management Llc purchased 1,176,470 shares of Viridian Therapeutics stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average price of $17.00 per share, for a total transaction of $19,999,990.00. Following the transaction, the director directly owned 5,090,928 shares in the company, valued at approximately $86,545,776. This trade represents a 30.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 2.40% of the stock is currently owned by company 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.