Profund Advisors LLC Trims Stock Holdings in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Profund Advisors LLC reduced its stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 57.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,990 shares of the company’s stock after selling 36,021 shares during the period. Profund Advisors LLC’s holdings in Viridian Therapeutics were worth $351,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Viridian Therapeutics by 7.8% during the 1st quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company’s stock worth $56,632,000 after purchasing an additional 233,331 shares in the last quarter. Perceptive Advisors LLC lifted its holdings in shares of Viridian Therapeutics by 71.1% in the fourth quarter. Perceptive Advisors LLC now owns 1,730,212 shares of the company’s stock worth $37,684,000 after buying an additional 719,007 shares in the last quarter. Vestal Point Capital LP bought a new position in shares of Viridian Therapeutics in the fourth quarter valued at approximately $21,780,000. Candriam S.C.A. grew its stake in Viridian Therapeutics by 167.8% during the second quarter. Candriam S.C.A. now owns 749,804 shares of the company’s stock valued at $9,754,000 after acquiring an additional 469,804 shares in the last quarter. Finally, RTW Investments LP bought a new stake in Viridian Therapeutics during the 4th quarter worth approximately $13,195,000.

Analysts Set New Price Targets

A number of research analysts have recently commented on VRDN shares. 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 research report on Thursday, September 12th. HC Wainwright restated a “buy” rating and issued a $27.00 target price on shares of Viridian Therapeutics in a research note on Tuesday, September 10th. Oppenheimer reiterated an “outperform” rating and set a $28.00 price target (down previously from $31.00) on shares of Viridian Therapeutics in a research report on Monday, August 12th. Wolfe Research started coverage on shares of Viridian Therapeutics in a research report on Tuesday, June 11th. They issued an “outperform” rating and a $29.00 price objective on the stock. Finally, BTIG Research lifted their target price on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Viridian Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $35.80.

Viridian Therapeutics Price Performance

VRDN stock opened at $23.06 on Friday. The firm has a market cap of $1.47 billion, a P/E ratio of -5.12 and a beta of 1.03. The firm’s fifty day moving average is $16.82 and its 200 day moving average is $15.21. Viridian Therapeutics, Inc. has a 52 week low of $10.93 and a 52 week high of $24.18. The company has a debt-to-equity ratio of 0.05, a quick ratio of 15.82 and a current ratio of 15.82.

Viridian Therapeutics (NASDAQ:VRDN) last issued its earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.15). The company had revenue of $0.07 million for the quarter, compared to analysts’ expectations of $0.09 million. Viridian Therapeutics had a negative net margin of 79,185.77% and a negative return on equity of 83.18%. Research analysts predict that Viridian Therapeutics, Inc. will post -3.94 earnings per share for the current year.

Insider Transactions at Viridian Therapeutics

In other news, Director Fairmount Funds Management Llc purchased 1,600,000 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was bought at an average cost of $18.75 per share, for a total transaction of $30,000,000.00. Following the acquisition, the director now directly owns 3,445,813 shares of the company’s stock, valued at approximately $64,608,993.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.65% of the company’s stock.

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.