Arizona State Retirement System Boosts Stock Position in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Arizona State Retirement System increased its position in Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 14.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 13,178 shares of the company’s stock after buying an additional 1,688 shares during the quarter. Arizona State Retirement System’s holdings in Viridian Therapeutics were worth $171,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in VRDN. Swiss National Bank grew its position in Viridian Therapeutics by 1.2% in the fourth quarter. Swiss National Bank now owns 67,200 shares of the company’s stock worth $1,464,000 after acquiring an additional 800 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Viridian Therapeutics by 18.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 371,311 shares of the company’s stock valued at $8,087,000 after acquiring an additional 58,094 shares during the last quarter. Affinity Asset Advisors LLC acquired a new position in Viridian Therapeutics during the 4th quarter valued at about $1,089,000. RTW Investments LP acquired a new stake in Viridian Therapeutics in the 4th quarter worth approximately $13,195,000. Finally, Vestal Point Capital LP purchased a new stake in shares of Viridian Therapeutics during the fourth quarter valued at $21,780,000.

Analyst Ratings Changes

VRDN has been the topic of several analyst reports. Wolfe Research assumed coverage on Viridian Therapeutics in a research report on Tuesday, June 11th. They set an “outperform” rating and a $29.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $27.00 price target on shares of Viridian Therapeutics in a report on Tuesday, September 10th. Royal Bank of Canada lifted their price objective on shares of Viridian Therapeutics from $35.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, September 13th. BTIG Research upped their price objective on shares of Viridian Therapeutics from $46.00 to $56.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, The Goldman Sachs Group raised their target price on Viridian Therapeutics from $25.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.30.

Viridian Therapeutics Trading Down 0.6 %

VRDN opened at $21.06 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 15.82 and a current ratio of 15.82. Viridian Therapeutics, Inc. has a one year low of $10.93 and a one year high of $24.18. The company has a market cap of $1.35 billion, a P/E ratio of -4.68 and a beta of 1.03. The business’s 50-day simple moving average is $15.93 and its 200-day simple moving average is $15.05.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.15). Viridian Therapeutics had a negative return on equity of 83.18% and a negative net margin of 79,185.77%. The company had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.09 million. As a group, equities research analysts expect that Viridian Therapeutics, Inc. will post -3.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc bought 1,600,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were bought at an average price of $18.75 per share, for a total transaction of $30,000,000.00. Following the transaction, the director now owns 3,445,813 shares of the company’s stock, valued at approximately $64,608,993.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.65% of the stock is owned by insiders.

Viridian Therapeutics 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.