JPMorgan Chase & Co. Boosts Holdings in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

JPMorgan Chase & Co. raised its holdings in Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 218.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 400,351 shares of the company’s stock after purchasing an additional 274,641 shares during the quarter. JPMorgan Chase & Co.’s holdings in Viridian Therapeutics were worth $9,108,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its position in shares of Viridian Therapeutics by 1,603.4% in the third quarter. Principal Financial Group Inc. now owns 172,810 shares of the company’s stock worth $3,931,000 after acquiring an additional 162,665 shares during the period. Lord Abbett & CO. LLC acquired a new position in shares of Viridian Therapeutics in the third quarter worth about $8,917,000. Exome Asset Management LLC acquired a new position in shares of Viridian Therapeutics in the third quarter worth about $3,968,000. Geode Capital Management LLC raised its position in shares of Viridian Therapeutics by 5.8% in the third quarter. Geode Capital Management LLC now owns 1,493,311 shares of the company’s stock worth $33,979,000 after acquiring an additional 81,951 shares during the period. Finally, Barclays PLC raised its position in shares of Viridian Therapeutics by 113.1% in the third quarter. Barclays PLC now owns 125,397 shares of the company’s stock worth $2,851,000 after acquiring an additional 66,550 shares during the period.

Viridian Therapeutics Stock Down 2.4 %

Shares of NASDAQ VRDN opened at $17.77 on Tuesday. Viridian Therapeutics, Inc. has a 12-month low of $11.40 and a 12-month high of $27.20. The stock has a market cap of $1.41 billion, a PE ratio of -4.12 and a beta of 1.13. The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average of $20.44 and a 200 day moving average of $18.97.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. TD Cowen assumed coverage on shares of Viridian Therapeutics in a research report on Monday, November 25th. They issued a “buy” rating for the company. BTIG Research upped their price target on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. HC Wainwright restated a “buy” rating and set a $34.00 price target on shares of Viridian Therapeutics in a research report on Monday, December 16th. Needham & Company LLC restated a “buy” rating and set a $38.00 price target on shares of Viridian Therapeutics in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada upped their price target on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Viridian Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $35.70.

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.