Eagle Asset Management Inc. Cuts Holdings in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Eagle Asset Management Inc. decreased its holdings in Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 16.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 313,130 shares of the company’s stock after selling 60,332 shares during the period. Eagle Asset Management Inc.’s holdings in Viridian Therapeutics were worth $7,894,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Quest Partners LLC raised its position in shares of Viridian Therapeutics by 344.0% in the 2nd quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock worth $79,000 after acquiring an additional 4,692 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Viridian Therapeutics by 24.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock worth $156,000 after purchasing an additional 2,359 shares in the last quarter. AlphaCentric Advisors LLC lifted its position in shares of Viridian Therapeutics by 108.3% during the second quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock valued at $163,000 after buying an additional 6,500 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Viridian Therapeutics by 14.7% in the 2nd quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock valued at $171,000 after buying an additional 1,688 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Viridian Therapeutics in the 3rd quarter worth approximately $208,000.

Insider Buying and Selling at Viridian Therapeutics

In related news, Director Fairmount Funds Management Llc acquired 1,600,000 shares of the stock in a transaction on Friday, September 13th. The shares were acquired at an average price of $18.75 per share, for a total transaction of $30,000,000.00. Following the transaction, the director now owns 3,445,813 shares in the company, valued at approximately $64,608,993.75. This trade represents a 86.68 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Thomas W. Beetham bought 5,000 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were purchased at an average cost of $23.41 per share, with a total value of $117,050.00. Following the completion of the acquisition, 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. Over the last three months, insiders have acquired 1,626,400 shares of company stock valued at $30,616,312. 0.65% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on VRDN. Oppenheimer restated an “outperform” rating and issued a $28.00 target price (down from $31.00) on shares of Viridian Therapeutics in a research note on Monday, August 12th. Wedbush reissued an “outperform” rating and issued a $42.00 price objective on shares of Viridian Therapeutics in a research report on Monday, July 29th. HC Wainwright upped their target price on Viridian Therapeutics from $27.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Needham & Company LLC reissued a “buy” rating and issued a $38.00 price target on shares of Viridian Therapeutics in a report on Wednesday, November 13th. Finally, BTIG Research upped their price objective on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.33.

Viridian Therapeutics Trading Up 3.0 %

Viridian Therapeutics stock opened at $20.20 on Monday. The stock has a 50-day moving average price of $22.73 and a 200 day moving average price of $17.19. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -4.69 and a beta of 1.10. Viridian Therapeutics, Inc. has a 52 week low of $11.40 and a 52 week high of $27.20. The company has a quick ratio of 18.55, a current ratio of 18.55 and a debt-to-equity ratio of 0.04.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The business had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.08 million. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. Sell-side analysts anticipate that Viridian Therapeutics, Inc. will post -4.04 EPS for the current year.

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.