Rhumbline Advisers Raises Position in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Rhumbline Advisers lifted its position in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 34.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 90,826 shares of the company’s stock after purchasing an additional 23,305 shares during the period. Rhumbline Advisers’ holdings in Viridian Therapeutics were worth $1,182,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in VRDN. Ameritas Investment Partners Inc. increased its holdings in Viridian Therapeutics by 19.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock valued at $87,000 after purchasing an additional 799 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Viridian Therapeutics by 24.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock worth $156,000 after purchasing an additional 2,359 shares during the last quarter. AlphaCentric Advisors LLC lifted its holdings in Viridian Therapeutics by 108.3% in the second quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock worth $163,000 after acquiring an additional 6,500 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Viridian Therapeutics by 9.7% in the first quarter. Principal Financial Group Inc. now owns 11,915 shares of the company’s stock worth $209,000 after acquiring an additional 1,058 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in Viridian Therapeutics in the fourth quarter worth about $424,000.

Insider Buying and Selling at Viridian Therapeutics

In other news, Director Fairmount Funds Management Llc bought 1,600,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were bought at an average cost of $18.75 per share, for a total transaction of $30,000,000.00. Following the completion of the acquisition, the director now owns 3,445,813 shares in the company, valued at approximately $64,608,993.75. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.65% of the company’s stock.

Viridian Therapeutics Stock Performance

NASDAQ VRDN opened at $22.30 on Monday. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -4.96 and a beta of 1.03. The company has a 50 day moving average of $16.29 and a 200-day moving average of $15.11. The company has a current ratio of 15.82, a quick ratio of 15.82 and a debt-to-equity ratio of 0.05. Viridian Therapeutics, Inc. has a 1-year low of $10.93 and a 1-year high of $24.18.

Viridian Therapeutics (NASDAQ:VRDN) last released 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 net margin of 79,185.77% and a negative return on equity of 83.18%. The company had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.09 million. On average, equities analysts forecast that Viridian Therapeutics, Inc. will post -3.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

VRDN has been the topic of a number of research analyst reports. Wolfe Research initiated coverage on shares of Viridian Therapeutics in a research note on Tuesday, June 11th. They set an “outperform” rating and a $29.00 price objective on the stock. BTIG Research boosted their target price on shares of Viridian Therapeutics from $46.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Oppenheimer reissued an “outperform” rating and set a $28.00 target price (down from $31.00) on shares of Viridian Therapeutics in a research note on Monday, August 12th. The Goldman Sachs Group boosted their price target on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $44.00 price target on shares of Viridian Therapeutics in a report on Thursday. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $35.30.

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.