The Manufacturers Life Insurance Company Raises Holdings in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

The Manufacturers Life Insurance Company grew its position in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 101.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 49,720 shares of the company’s stock after buying an additional 24,988 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Viridian Therapeutics were worth $953,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. R Squared Ltd purchased a new position in shares of Viridian Therapeutics during the fourth quarter worth about $26,000. AlphaQuest LLC grew its holdings in shares of Viridian Therapeutics by 119.0% during the fourth quarter. AlphaQuest LLC now owns 2,795 shares of the company’s stock worth $54,000 after purchasing an additional 1,519 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of Viridian Therapeutics by 24.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,646 shares of the company’s stock worth $147,000 after purchasing an additional 1,516 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Viridian Therapeutics during the fourth quarter worth about $164,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Viridian Therapeutics during the fourth quarter worth about $219,000.

Viridian Therapeutics Trading Down 3.4%

Shares of VRDN opened at $12.38 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 18.55 and a quick ratio of 18.55. The firm has a 50 day simple moving average of $13.53 and a 200-day simple moving average of $17.31. Viridian Therapeutics, Inc. has a 1-year low of $9.90 and a 1-year high of $27.20. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -2.87 and a beta of 0.57.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.87) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.08. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. The business had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $0.16 million. The firm’s revenue for the quarter was up .0% on a year-over-year basis. Equities analysts forecast that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada decreased their target price on shares of Viridian Therapeutics from $46.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. HC Wainwright reiterated a “buy” rating and set a $34.00 target price on shares of Viridian Therapeutics in a research note on Wednesday, April 23rd. The Goldman Sachs Group decreased their target price on shares of Viridian Therapeutics from $31.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. JMP Securities decreased their target price on shares of Viridian Therapeutics from $42.00 to $38.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 7th. Finally, Needham & Company LLC decreased their target price on shares of Viridian Therapeutics from $38.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.70.

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.