Wellington Management Group LLP Trims Holdings in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Wellington Management Group LLP reduced its stake in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 16.9% in the third quarter, Holdings Channel reports. The firm owned 235,987 shares of the company’s stock after selling 48,057 shares during the period. Wellington Management Group LLP’s holdings in Viridian Therapeutics were worth $5,369,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Quest Partners LLC lifted its holdings in Viridian Therapeutics by 344.0% during the 2nd quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock valued at $79,000 after buying an additional 4,692 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Viridian Therapeutics during the third quarter worth approximately $149,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Viridian Therapeutics by 24.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock valued at $156,000 after acquiring an additional 2,359 shares in the last quarter. AlphaCentric Advisors LLC raised its stake 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 acquiring an additional 6,500 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in shares of Viridian Therapeutics by 14.7% in the second quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock valued at $171,000 after purchasing an additional 1,688 shares during the period.

Viridian Therapeutics Trading Up 20.7 %

NASDAQ VRDN opened at $21.54 on Tuesday. Viridian Therapeutics, Inc. has a 52 week low of $11.40 and a 52 week high of $27.20. The company has a 50 day moving average price of $22.00 and a 200 day moving average price of $17.99. The company has a quick ratio of 18.55, a current ratio of 18.55 and a debt-to-equity ratio of 0.04. The firm has a market cap of $1.71 billion, a PE ratio of -5.00 and a beta of 1.04.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). The business had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.08 million. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. As a group, sell-side analysts forecast that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Insider Buying and Selling at Viridian Therapeutics

In other news, CEO Stephen F. Mahoney bought 21,400 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were purchased at an average cost of $23.33 per share, with a total value of $499,262.00. Following the transaction, the chief executive officer now directly owns 21,400 shares in the company, valued at approximately $499,262. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Thomas W. Beetham bought 5,000 shares of Viridian Therapeutics stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average price of $23.41 per share, with a total value of $117,050.00. Following the purchase, the chief operating officer now directly owns 6,000 shares in the company, valued at $140,460. The trade was a 500.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.65% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on VRDN. BTIG Research raised their price objective on Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Needham & Company LLC restated a “buy” rating and issued a $38.00 price objective on shares of Viridian Therapeutics in a report on Monday, November 25th. HC Wainwright reiterated a “buy” rating and set a $34.00 target price on shares of Viridian Therapeutics in a report on Monday. 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 report on Thursday, September 12th. Finally, TD Cowen started coverage on shares of Viridian Therapeutics in a research report on Monday, November 25th. They issued a “buy” rating for the company. Two investment 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.com, Viridian Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $36.33.

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.