Vanguard Group Inc. Sells 176,525 Shares of Viridian Therapeutics, Inc. $VRDN

Vanguard Group Inc. lowered its position in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 3.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 4,331,983 shares of the company’s stock after selling 176,525 shares during the quarter. Vanguard Group Inc. owned 0.05% of Viridian Therapeutics worth $93,484,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Simplify Asset Management Inc. purchased a new stake in shares of Viridian Therapeutics during the third quarter valued at approximately $1,079,000. Y Intercept Hong Kong Ltd boosted its position in Viridian Therapeutics by 430.3% in the third quarter. Y Intercept Hong Kong Ltd now owns 64,594 shares of the company’s stock worth $1,394,000 after purchasing an additional 52,414 shares during the last quarter. Rice Hall James & Associates LLC grew its stake in Viridian Therapeutics by 65.2% in the 3rd quarter. Rice Hall James & Associates LLC now owns 851,663 shares of the company’s stock valued at $18,379,000 after purchasing an additional 336,040 shares during the period. SG Americas Securities LLC increased its position in shares of Viridian Therapeutics by 411.8% during the 3rd quarter. SG Americas Securities LLC now owns 62,118 shares of the company’s stock valued at $1,341,000 after purchasing an additional 49,981 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Viridian Therapeutics by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,740,614 shares of the company’s stock worth $24,337,000 after purchasing an additional 20,089 shares during the period.

Insider Activity

In related news, insider Jennifer Tousignant sold 2,272 shares of the stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $31.16, for a total transaction of $70,795.52. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.58% of the company’s stock.

Analyst Upgrades and Downgrades

VRDN has been the subject of several research reports. Needham & Company LLC restated a “buy” rating and set a $42.00 price target on shares of Viridian Therapeutics in a research report on Wednesday, February 4th. Truist Financial dropped their target price on shares of Viridian Therapeutics from $41.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Wedbush raised their price target on shares of Viridian Therapeutics from $42.00 to $47.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 10th. UBS Group began coverage on shares of Viridian Therapeutics in a report on Wednesday, January 7th. They issued a “buy” rating and a $50.00 price target on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Viridian Therapeutics in a research note on Wednesday, January 21st. Thirteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Viridian Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $42.43.

Viridian Therapeutics Stock Performance

NASDAQ VRDN opened at $28.89 on Friday. The firm has a market cap of $2.95 billion, a P/E ratio of -8.78 and a beta of 1.00. The company has a quick ratio of 12.65, a current ratio of 12.65 and a debt-to-equity ratio of 0.08. The company’s 50 day moving average is $30.80 and its 200-day moving average is $26.72. Viridian Therapeutics, Inc. has a 12-month low of $9.90 and a 12-month high of $34.29.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings data on Thursday, February 26th. The company reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.18). Viridian Therapeutics had a negative net margin of 483.57% and a negative return on equity of 83.25%. The business had revenue of $0.13 million during the quarter, compared to analysts’ expectations of $15.75 million. Sell-side analysts predict that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current year.

Viridian Therapeutics Company 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.