Rhumbline Advisers Boosts Stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Rhumbline Advisers increased its stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 13.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 99,938 shares of the company’s stock after acquiring an additional 11,594 shares during the period. Rhumbline Advisers’ holdings in Viridian Therapeutics were worth $1,916,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in VRDN. R Squared Ltd purchased a new position in shares of Viridian Therapeutics in the 4th quarter worth about $26,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Viridian Therapeutics during the 3rd quarter valued at about $149,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Viridian Therapeutics in the third quarter worth approximately $208,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Viridian Therapeutics by 17.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,997 shares of the company’s stock worth $318,000 after buying an additional 2,036 shares in the last quarter. Finally, AlphaCentric Advisors LLC boosted its stake in Viridian Therapeutics by 20.0% in the third quarter. AlphaCentric Advisors LLC now owns 15,000 shares of the company’s stock worth $341,000 after buying an additional 2,500 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company reissued an “equal weight” rating and set a $27.00 price target (down from $37.00) on shares of Viridian Therapeutics in a research note on Thursday, December 19th. Needham & Company LLC reissued a “buy” rating and issued a $38.00 price target on shares of Viridian Therapeutics in a research note on Tuesday, January 7th. HC Wainwright reissued a “buy” rating and issued a $34.00 price target on shares of Viridian Therapeutics in a research note on Monday, December 16th. Royal Bank of Canada raised their price objective on Viridian Therapeutics from $44.00 to $47.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Finally, TD Cowen initiated coverage on Viridian Therapeutics in a report on Monday, November 25th. They issued a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.70.

Viridian Therapeutics Trading Down 7.2 %

NASDAQ VRDN opened at $14.41 on Tuesday. The stock has a market cap of $1.14 billion, a P/E ratio of -3.34 and a beta of 1.32. Viridian Therapeutics, Inc. has a fifty-two week low of $11.40 and a fifty-two week high of $27.20. The stock has a 50 day simple moving average of $18.10 and a two-hundred day simple moving average of $19.70. The company has a debt-to-equity ratio of 0.04, a quick ratio of 18.55 and a current ratio of 18.55.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.81) EPS for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.24. The company had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.05 million. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. On average, analysts forecast that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current year.

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.