Intech Investment Management LLC Buys New Position in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Intech Investment Management LLC acquired a new position in Viridian Therapeutics, Inc. (NASDAQ:VRDN) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 18,566 shares of the company’s stock, valued at approximately $422,000.

Several other institutional investors have also added to or reduced their stakes in VRDN. Vanguard Group Inc. lifted its stake in Viridian Therapeutics by 7.8% during the first 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 last quarter. Price T Rowe Associates Inc. MD grew its position in Viridian Therapeutics by 20.9% in 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 raised its stake in shares of Viridian Therapeutics by 13.9% in the first quarter. California State Teachers Retirement System now owns 42,596 shares of the company’s stock worth $746,000 after buying an additional 5,202 shares during the period. SG Americas Securities LLC purchased a new stake in Viridian Therapeutics during the 2nd quarter valued at approximately $599,000. Finally, Hennion & Walsh Asset Management Inc. raised its stake in 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 purchasing an additional 69,035 shares in the last quarter.

Viridian Therapeutics Stock Down 2.6 %

Shares of NASDAQ VRDN opened at $21.00 on Tuesday. Viridian Therapeutics, Inc. has a 52-week low of $11.40 and a 52-week high of $27.20. The firm has a 50 day moving average price of $22.72 and a 200 day moving average price of $17.45. The stock has a market cap of $1.66 billion, a P/E ratio of -4.92 and a beta of 1.10. The company has a debt-to-equity ratio of 0.04, a quick ratio of 18.55 and a current ratio of 18.55.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). The company had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.08 million. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. Analysts expect that Viridian Therapeutics, Inc. will post -4.03 EPS for the current year.

Insider Buying and Selling

In other news, Director Fairmount Funds Management Llc purchased 1,600,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 3,445,813 shares of the company’s stock, valued at approximately $64,608,993.75. This represents a 86.68 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen F. Mahoney acquired 21,400 shares of Viridian Therapeutics stock in a transaction that occurred on Friday, September 27th. The shares were purchased at an average cost of $23.33 per share, with a total value of $499,262.00. Following the purchase, the chief executive officer now owns 21,400 shares of the company’s stock, valued at $499,262. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 1,626,400 shares of company stock valued at $30,616,312 in the last three months. Insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on VRDN. The Goldman Sachs Group boosted their price objective on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. TD Cowen assumed coverage on Viridian Therapeutics in a research note on Monday, November 25th. They set a “buy” rating for the company. BTIG Research upped their price objective on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $44.00 target price on shares of Viridian Therapeutics in a research report on Thursday, September 19th. Finally, HC Wainwright upped their price objective on Viridian Therapeutics from $27.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Viridian Therapeutics has an average rating of “Moderate Buy” and an average target price of $36.33.

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.