Viridian Therapeutics, Inc. (NASDAQ:VRDN) Shares Bought by Rhumbline Advisers

Rhumbline Advisers grew its position in Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 34.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 90,826 shares of the company’s stock after purchasing an additional 23,305 shares during the period. Rhumbline Advisers owned approximately 0.14% of Viridian Therapeutics worth $1,182,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Ameritas Investment Partners Inc. grew its holdings in Viridian Therapeutics by 19.2% during the first quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock worth $87,000 after acquiring an additional 799 shares during the period. Swiss National Bank boosted its position in Viridian Therapeutics by 1.2% during the fourth quarter. Swiss National Bank now owns 67,200 shares of the company’s stock worth $1,464,000 after purchasing an additional 800 shares in the last quarter. Principal Financial Group Inc. boosted its position in Viridian Therapeutics by 9.7% during the first quarter. Principal Financial Group Inc. now owns 11,915 shares of the company’s stock worth $209,000 after purchasing an additional 1,058 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Viridian Therapeutics by 4.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,822 shares of the company’s stock worth $505,000 after purchasing an additional 1,135 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Viridian Therapeutics by 24.6% during 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.

Insider Buying and Selling

In related news, Director Fairmount Funds Management Llc bought 1,600,000 shares of Viridian Therapeutics stock in a transaction that occurred on Friday, September 13th. The shares were purchased at an average price of $18.75 per share, with a total value of $30,000,000.00. Following the purchase, the director now owns 3,445,813 shares in the company, valued at $64,608,993.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.65% of the company’s stock.

Viridian Therapeutics Stock Performance

Shares of VRDN stock opened at $22.30 on Monday. The stock has a market capitalization of $1.42 billion, a PE ratio of -4.96 and a beta of 1.03. Viridian Therapeutics, Inc. has a 52-week low of $10.93 and a 52-week high of $24.18. The stock’s 50-day moving average price is $16.29 and its 200 day moving average price is $15.11. The company has a quick ratio of 15.82, a current ratio of 15.82 and a debt-to-equity ratio of 0.05.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($0.15). Viridian Therapeutics had a negative return on equity of 83.18% and a negative net margin of 79,185.77%. The business had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.09 million. As a group, equities research analysts forecast that Viridian Therapeutics, Inc. will post -3.93 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on VRDN. The Goldman Sachs Group increased their price target on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Needham & Company LLC increased their price target on Viridian Therapeutics from $30.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. BTIG Research raised their target price on Viridian Therapeutics from $46.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. HC Wainwright restated a “buy” rating and issued a $27.00 target price on shares of Viridian Therapeutics in a research report on Tuesday, September 10th. Finally, Wolfe Research initiated coverage on Viridian Therapeutics in a research report on Tuesday, June 11th. They issued an “outperform” rating and a $29.00 target price on the stock. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Viridian Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $35.30.

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.