Key Points
- Viridian Therapeutics director Fairmount Funds Management bought 1,176,470 shares at $17.00 each, a nearly $20 million transaction that increased its stake by 30.05% to 5,090,928 shares.
- VRDN shares were up 1.1% and opened at $17.04, well below the stock’s 50-day average of $20.56 and 200-day average of $26.77.
- The company beat earnings expectations for the quarter with EPS of -$0.90 versus -$1.06 expected, while analysts still see a consensus Moderate Buy rating and average price target of $37.43.
Viridian Therapeutics, Inc. (NASDAQ:VRDN - Get Free Report) Director Fairmount Funds Management Llc acquired 1,176,470 shares of the firm's stock in a transaction on Monday, May 11th. The stock was bought at an average price of $17.00 per share, for a total transaction of $19,999,990.00. Following the completion of the acquisition, the director owned 5,090,928 shares of the company's stock, valued at approximately $86,545,776. The trade was a 30.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.
Viridian Therapeutics Trading Up 1.1%
VRDN stock opened at $17.04 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 15.15 and a current ratio of 15.15. The company's 50-day simple moving average is $20.56 and its 200 day simple moving average is $26.77. Viridian Therapeutics, Inc. has a 52 week low of $12.07 and a 52 week high of $34.29. The company has a market capitalization of $1.76 billion, a PE ratio of -5.13 and a beta of 0.82.
Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.16. Viridian Therapeutics had a negative net margin of 490.31% and a negative return on equity of 80.19%. The business had revenue of $0.14 million for the quarter, compared to the consensus estimate of $0.04 million. During the same period in the prior year, the company posted ($0.87) earnings per share. Viridian Therapeutics's revenue was up 95.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Viridian Therapeutics, Inc. will post -3.62 earnings per share for the current year.
Institutional Trading of Viridian Therapeutics
Several large investors have recently modified their holdings of the stock. MetLife Investment Management LLC grew its position in shares of Viridian Therapeutics by 0.8% during the 4th quarter. MetLife Investment Management LLC now owns 43,985 shares of the company's stock worth $1,369,000 after buying an additional 356 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Viridian Therapeutics by 0.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,360 shares of the company's stock valued at $4,337,000 after purchasing an additional 380 shares during the period. US Bancorp DE grew its position in Viridian Therapeutics by 23.2% in the 3rd quarter. US Bancorp DE now owns 2,457 shares of the company's stock valued at $53,000 after purchasing an additional 463 shares during the period. Bank of New York Mellon Corp lifted its stake in Viridian Therapeutics by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 216,525 shares of the company's stock valued at $4,235,000 after acquiring an additional 659 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Viridian Therapeutics by 1.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company's stock valued at $669,000 after acquiring an additional 876 shares in the last quarter.
Analysts Set New Price Targets
A number of research analysts have recently commented on VRDN shares. The Goldman Sachs Group dropped their target price on shares of Viridian Therapeutics from $36.00 to $31.00 and set a "buy" rating for the company in a report on Tuesday, April 7th. Evercore reissued an "outperform" rating and issued a $44.00 target price on shares of Viridian Therapeutics in a report on Tuesday, January 20th. Royal Bank Of Canada raised their price objective on shares of Viridian Therapeutics from $30.00 to $34.00 and gave the company an "outperform" rating in a report on Wednesday, May 6th. Needham & Company LLC reiterated a "buy" rating and issued a $32.00 price objective on shares of Viridian Therapeutics in a report on Tuesday, May 5th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Viridian Therapeutics in a report on Monday, April 20th. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Viridian Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $37.43.
Read Our Latest Report on Viridian Therapeutics
Viridian Therapeutics Company Profile
(
Get Free Report)
Viridian Therapeutics, Inc (NASDAQ: VRDN) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted antibody therapeutics for patients suffering from rare and serious diseases. The company's lead program, VRDN-001, is a fully human monoclonal antibody that antagonizes the insulin-like growth factor-1 receptor (IGF-1R), with an initial focus on thyroid eye disease (TED). By selectively inhibiting IGF-1R signaling, VRDN-001 aims to reduce inflammation and tissue remodeling associated with TED and related disorders.
In addition to VRDN-001, Viridian is advancing a second antibody program, VRDN-002, which targets complement-mediated pathways implicated in autoimmune and inflammatory diseases.
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