Vivo Capital LLC Cuts Position in Viridian Therapeutics, Inc. $VRDN

Vivo Capital LLC trimmed its position in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 83.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 166,288 shares of the company’s stock after selling 816,288 shares during the period. Vivo Capital LLC owned approximately 0.16% of Viridian Therapeutics worth $3,253,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. ANTIPODES PARTNERS Ltd purchased a new stake in shares of Viridian Therapeutics in the 4th quarter valued at $36,000. KBC Group NV purchased a new position in Viridian Therapeutics during the 1st quarter valued at about $34,000. Larson Financial Group LLC purchased a new position in Viridian Therapeutics during the 3rd quarter valued at about $52,000. US Bancorp DE grew 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 acquiring an additional 463 shares in the last quarter. Finally, State of Wyoming acquired a new position in Viridian Therapeutics in the 1st quarter valued at about $93,000.

Insiders Place Their Bets

In other news, Director Fairmount Funds Management Llc purchased 1,176,470 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average price of $17.00 per share, for a total transaction of $19,999,990.00. Following the completion of the purchase, the director directly owned 5,090,928 shares of the company’s stock, valued at $86,545,776. The trade was a 30.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Evercore set a $26.00 price target on shares of Viridian Therapeutics in a research report on Friday, May 15th. Wedbush lifted their price objective on shares of Viridian Therapeutics from $32.00 to $43.00 and gave the company an “outperform” rating in a report on Tuesday, June 30th. Weiss Ratings downgraded shares of Viridian Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 30th. Stifel Nicolaus set a $39.00 target price on shares of Viridian Therapeutics in a research note on Wednesday, May 13th. Finally, Truist Financial increased their target price on shares of Viridian Therapeutics from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.79.

Viridian Therapeutics Price Performance

VRDN stock opened at $19.90 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 15.15 and a quick ratio of 15.15. The firm has a market capitalization of $2.05 billion, a P/E ratio of -5.99 and a beta of 0.90. The business’s 50-day moving average is $17.93 and its two-hundred day moving average is $22.09. Viridian Therapeutics, Inc. has a 1 year low of $13.18 and a 1 year high of $34.29.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.90) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.06) by $0.16. Viridian Therapeutics had a negative return on equity of 80.19% and a negative net margin of 490.31%.The business had revenue of $0.14 million during the quarter, compared to analysts’ expectations of $0.04 million. During the same quarter last year, the business posted ($0.87) EPS. The business’s quarterly revenue was up 95.8% compared to the same quarter last year. Analysts anticipate that Viridian Therapeutics, Inc. will post -3.87 earnings per share for the current fiscal year.

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.