AlphaQuest LLC Raises Stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

AlphaQuest LLC increased its stake in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 119.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,795 shares of the company’s stock after buying an additional 1,519 shares during the period. AlphaQuest LLC’s holdings in Viridian Therapeutics were worth $54,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. E Fund Management Co. Ltd. purchased a new stake in Viridian Therapeutics during the 4th quarter worth about $235,000. Raymond James Financial Inc. bought a new position in Viridian Therapeutics in the 4th quarter worth about $6,015,000. Arizona State Retirement System increased its position in shares of Viridian Therapeutics by 19.5% during the 4th quarter. Arizona State Retirement System now owns 16,596 shares of the company’s stock valued at $318,000 after purchasing an additional 2,708 shares during the last quarter. Victory Capital Management Inc. bought a new position in shares of Viridian Therapeutics during the 4th quarter valued at about $7,868,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Viridian Therapeutics by 11.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 575,070 shares of the company’s stock valued at $11,024,000 after purchasing an additional 58,857 shares during the last quarter.

Analysts Set New Price Targets

Several research firms recently issued reports on VRDN. TD Cowen started coverage on Viridian Therapeutics in a research report on Monday, November 25th. They set a “buy” rating on the stock. Royal Bank of Canada raised their target price on Viridian Therapeutics from $44.00 to $47.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $27.00 price objective (down previously from $37.00) on shares of Viridian Therapeutics in a research report on Thursday, December 19th. HC Wainwright reissued a “buy” rating and issued a $34.00 target price on shares of Viridian Therapeutics in a report on Monday, December 16th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $38.00 target price on shares of Viridian Therapeutics in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Viridian Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $35.70.

Viridian Therapeutics Stock Performance

Shares of VRDN opened at $15.32 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 18.55 and a quick ratio of 18.55. Viridian Therapeutics, Inc. has a one year low of $11.40 and a one year high of $27.20. The firm has a market capitalization of $1.25 billion, a P/E ratio of -3.55 and a beta of 1.05. The business has a fifty day moving average of $17.08 and a 200 day moving average of $19.68.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.81) EPS for the quarter, topping the consensus estimate of ($1.05) by $0.24. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. The company had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.05 million. As a group, sell-side analysts anticipate that Viridian Therapeutics, Inc. will post -4.03 EPS for the current year.

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.