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

Perceptive Advisors LLC lowered its stake in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 55.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,631,828 shares of the company’s stock after selling 2,025,271 shares during the quarter. Perceptive Advisors LLC owned about 2.56% of Viridian Therapeutics worth $21,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Ameritas Investment Partners Inc. raised its stake in Viridian Therapeutics by 19.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock valued at $87,000 after purchasing an additional 799 shares during the last quarter. Quest Partners LLC boosted its stake 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 valued at $79,000 after buying an additional 4,692 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Viridian Therapeutics by 9.7% in the 1st quarter. Principal Financial Group Inc. now owns 11,915 shares of the company’s stock valued at $209,000 after purchasing an additional 1,058 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Viridian Therapeutics by 24.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock valued at $156,000 after buying an additional 2,359 shares during the last quarter. Finally, AlphaCentric Advisors LLC grew its position in Viridian Therapeutics by 108.3% during the 2nd quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock worth $163,000 after purchasing an additional 6,500 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently commented on VRDN shares. HC Wainwright reiterated a “buy” rating and issued a $27.00 price objective on shares of Viridian Therapeutics in a research note on Tuesday, September 10th. Royal Bank of Canada restated an “outperform” rating and issued a $44.00 target price on shares of Viridian Therapeutics in a report on Thursday, September 19th. Wedbush restated an “outperform” rating and issued a $42.00 target price on shares of Viridian Therapeutics in a report on Monday, July 29th. Wolfe Research began coverage on shares of Viridian Therapeutics in a report on Tuesday, June 11th. They issued an “outperform” rating and a $29.00 target price for the company. Finally, BTIG Research boosted their price objective on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.80.

Insiders Place Their Bets

In other news, Director Fairmount Funds Management Llc acquired 1,600,000 shares of the stock in a transaction on Friday, September 13th. The shares were purchased at an average price of $18.75 per share, for a total transaction of $30,000,000.00. Following the transaction, the director now directly owns 3,445,813 shares of the company’s stock, valued at $64,608,993.75. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.65% of the company’s stock.

Viridian Therapeutics Stock Up 1.2 %

Shares of VRDN stock opened at $23.33 on Monday. The stock has a market cap of $1.49 billion, a P/E ratio of -5.18 and a beta of 1.03. Viridian Therapeutics, Inc. has a one year low of $10.93 and a one year high of $24.18. The stock has a fifty day moving average price of $16.99 and a 200 day moving average price of $15.20. The company has a debt-to-equity ratio of 0.05, a current ratio of 15.82 and a quick ratio of 15.82.

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

Viridian Therapeutics 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.