The Manufacturers Life Insurance Company Purchases 7,450 Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN)

The Manufacturers Life Insurance Company lifted its position in Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 30.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,687 shares of the company’s stock after acquiring an additional 7,450 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Viridian Therapeutics were worth $412,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Maverick Capital Ltd. raised its holdings in Viridian Therapeutics by 22.9% in the second quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company’s stock worth $43,036,000 after purchasing an additional 615,531 shares in the last quarter. Vanguard Group Inc. boosted its position in Viridian Therapeutics by 7.8% in the first quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company’s stock valued at $56,632,000 after buying an additional 233,331 shares during the last quarter. Candriam S.C.A. boosted its position in Viridian Therapeutics by 167.8% in the 2nd quarter. Candriam S.C.A. now owns 749,804 shares of the company’s stock worth $9,754,000 after purchasing an additional 469,804 shares in the last quarter. Millennium Management LLC boosted its position in Viridian Therapeutics by 1,014.7% in the 2nd quarter. Millennium Management LLC now owns 228,182 shares of the company’s stock worth $2,969,000 after purchasing an additional 207,711 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Viridian Therapeutics by 37.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 208,676 shares of the company’s stock worth $2,715,000 after purchasing an additional 56,814 shares in the last quarter.

Viridian Therapeutics Trading Down 1.0 %

NASDAQ:VRDN opened at $23.79 on Thursday. The firm has a market cap of $1.52 billion, a P/E ratio of -5.29 and a beta of 1.08. The company has a current ratio of 15.82, a quick ratio of 15.82 and a debt-to-equity ratio of 0.05. The stock’s 50 day simple moving average is $18.95 and its 200-day simple moving average is $15.75. Viridian Therapeutics, Inc. has a 12-month low of $10.93 and a 12-month high of $24.75.

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $44.00 target price on shares of Viridian Therapeutics in a research report on Thursday, September 19th. HC Wainwright reissued a “buy” rating and issued a $27.00 price objective on shares of Viridian Therapeutics in a research note on Tuesday, September 10th. The Goldman Sachs Group raised their target price on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. BTIG Research increased their price target on Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Wedbush reiterated an “outperform” rating and set a $42.00 price target on shares of Viridian Therapeutics in a report on Monday, July 29th. 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, Viridian Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $35.80.

Insider Activity at Viridian Therapeutics

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc purchased 1,600,000 shares of Viridian Therapeutics stock in a transaction that occurred on Friday, September 13th. The stock was purchased at an average price of $18.75 per share, with a total value of $30,000,000.00. Following the completion of the acquisition, the director now owns 3,445,813 shares of the company’s stock, valued at approximately $64,608,993.75. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Viridian Therapeutics news, COO Thomas W. Beetham bought 5,000 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were purchased at an average cost of $23.41 per share, for a total transaction of $117,050.00. Following the transaction, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Fairmount Funds Management Llc bought 1,600,000 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was acquired at an average price of $18.75 per share, for a total transaction of $30,000,000.00. Following the completion of the transaction, the director now owns 3,445,813 shares in the company, valued at $64,608,993.75. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 1,626,400 shares of company stock valued at $30,616,312. Insiders own 0.65% of the company’s stock.

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.