Point72 Asset Management L.P. Invests $788,000 in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Point72 Asset Management L.P. purchased a new position in Viridian Therapeutics, Inc. (NASDAQ:VRDN) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 34,627 shares of the company’s stock, valued at approximately $788,000.

A number of other hedge funds also recently bought and sold shares of the company. Polar Asset Management Partners Inc. raised its holdings in Viridian Therapeutics by 48.3% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 163,000 shares of the company’s stock worth $3,708,000 after acquiring an additional 53,100 shares during the last quarter. Parkman Healthcare Partners LLC purchased a new position in shares of Viridian Therapeutics in the third quarter worth $9,669,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Viridian Therapeutics during the third quarter valued at $149,000. PDT Partners LLC purchased a new stake in shares of Viridian Therapeutics during the third quarter valued at $762,000. Finally, Walleye Capital LLC increased its holdings in Viridian Therapeutics by 30.1% in the 3rd quarter. Walleye Capital LLC now owns 560,007 shares of the company’s stock worth $12,740,000 after buying an additional 129,411 shares in the last quarter.

Insider Activity

In related news, Director Fairmount Funds Management Llc bought 1,600,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was bought at an average cost of $18.75 per share, with a total value of $30,000,000.00. Following the completion of the purchase, the director now owns 3,445,813 shares of the company’s stock, valued at approximately $64,608,993.75. The trade was a 86.68 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Thomas W. Beetham purchased 5,000 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was bought at an average price of $23.41 per share, for a total transaction of $117,050.00. Following the purchase, the chief operating officer now owns 6,000 shares in the company, valued at approximately $140,460. This represents a 500.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 1,626,400 shares of company stock worth $30,616,312 in the last three months. Company insiders own 0.65% of the company’s stock.

Viridian Therapeutics Stock Performance

NASDAQ:VRDN opened at $18.98 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 18.55 and a current ratio of 18.55. The stock has a 50-day simple moving average of $22.27 and a two-hundred day simple moving average of $17.80. The firm has a market capitalization of $1.50 billion, a PE ratio of -4.40 and a beta of 1.04. Viridian Therapeutics, Inc. has a 52-week low of $11.40 and a 52-week high of $27.20.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.04). Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. The firm had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.08 million. Analysts forecast that Viridian Therapeutics, Inc. will post -4.03 EPS for the current year.

Wall Street Analysts Forecast Growth

VRDN has been the topic of a number of recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $44.00 price target on shares of Viridian Therapeutics in a report on Thursday, December 5th. HC Wainwright raised their target price on shares of Viridian Therapeutics from $27.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. The Goldman Sachs Group boosted their target price on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. TD Cowen started coverage on Viridian Therapeutics in a research note on Monday, November 25th. They issued a “buy” rating on the stock. Finally, BTIG Research lifted their price objective on Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Viridian Therapeutics has an average rating of “Moderate Buy” and an average target price of $36.33.

About Viridian Therapeutics

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.