Connor Clark & Lunn Investment Management Ltd. Invests $208,000 in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 9,130 shares of the company’s stock, valued at approximately $208,000.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Viridian Therapeutics by 7.8% in the 1st quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company’s stock worth $56,632,000 after purchasing an additional 233,331 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Viridian Therapeutics by 20.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,369 shares of the company’s stock worth $550,000 after purchasing an additional 5,429 shares during the period. California State Teachers Retirement System grew its holdings in Viridian Therapeutics by 13.9% during the 1st quarter. California State Teachers Retirement System now owns 42,596 shares of the company’s stock valued at $746,000 after purchasing an additional 5,202 shares during the last quarter. SG Americas Securities LLC bought a new stake in Viridian Therapeutics in the second quarter worth about $599,000. Finally, Hennion & Walsh Asset Management Inc. boosted its position in shares of Viridian Therapeutics by 62.9% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 178,855 shares of the company’s stock valued at $2,327,000 after buying an additional 69,035 shares during the period.

Viridian Therapeutics Stock Performance

Shares of VRDN stock opened at $21.55 on Monday. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -5.00 and a beta of 1.10. Viridian Therapeutics, Inc. has a 52-week low of $11.40 and a 52-week high of $27.20. The company has a quick ratio of 18.55, a current ratio of 18.55 and a debt-to-equity ratio of 0.04. The company’s 50 day moving average is $22.72 and its 200 day moving average is $17.43.

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

Analysts Set New Price Targets

VRDN has been the subject of a number of research analyst reports. Oppenheimer reissued an “outperform” rating and set a $28.00 price target (down from $31.00) on shares of Viridian Therapeutics in a research note on Monday, August 12th. 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 price target on shares of Viridian Therapeutics in a research note on Monday, November 25th. HC Wainwright upped their target price on shares of Viridian Therapeutics from $27.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, TD Cowen started coverage on shares of Viridian Therapeutics in a research note on Monday, November 25th. They set a “buy” rating for the company. Two research 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 an average price target of $36.33.

Insider Buying and Selling at Viridian Therapeutics

In other news, COO Thomas W. Beetham acquired 5,000 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were purchased at an average price of $23.41 per share, with a total value of $117,050.00. Following the transaction, the chief operating officer now directly owns 6,000 shares in the company, valued at approximately $140,460. This represents a 500.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Fairmount Funds Management Llc acquired 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. This represents a 86.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 1,626,400 shares of company stock worth $30,616,312 over the last quarter. 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.