Zurcher Kantonalbank Zurich Cantonalbank Acquires 2,036 Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 17.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,997 shares of the company’s stock after acquiring an additional 2,036 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Viridian Therapeutics were worth $318,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Quest Partners LLC boosted its holdings in Viridian Therapeutics by 344.0% during the second quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock worth $79,000 after purchasing an additional 4,692 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Viridian Therapeutics during the third quarter worth about $208,000. AlphaCentric Advisors LLC boosted its holdings in Viridian Therapeutics by 108.3% during the second 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. Arizona State Retirement System boosted its holdings in Viridian Therapeutics by 14.7% during the second quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock worth $171,000 after purchasing an additional 1,688 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. purchased a new position in Viridian Therapeutics during the third quarter worth about $372,000.

Viridian Therapeutics Price Performance

Shares of Viridian Therapeutics stock opened at $19.72 on Monday. Viridian Therapeutics, Inc. has a 52-week low of $11.40 and a 52-week high of $27.20. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of -4.58 and a beta of 1.04. The company has a fifty day moving average of $22.53 and a 200-day moving average of $17.65. 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 announced its quarterly earnings data 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). Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. The business had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.08 million. Equities research analysts expect that Viridian Therapeutics, Inc. will post -4.03 EPS for the current year.

Analyst Upgrades and Downgrades

VRDN has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their target price on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Oppenheimer reiterated an “outperform” rating and issued a $28.00 target price (down from $31.00) on shares of Viridian Therapeutics in a research note on Monday, August 12th. BTIG Research boosted their target price on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. TD Cowen initiated coverage on shares of Viridian Therapeutics in a research note on Monday, November 25th. They issued a “buy” rating on the stock. Finally, HC Wainwright boosted their target price on shares of Viridian Therapeutics from $27.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $36.33.

Insider Buying and Selling at Viridian Therapeutics

In related news, Director Fairmount Funds Management Llc bought 1,600,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was purchased at an average cost of $18.75 per share, with a total value of $30,000,000.00. Following the transaction, the director now owns 3,445,813 shares in the company, valued at approximately $64,608,993.75. This trade represents a 86.68 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen F. Mahoney bought 21,400 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was bought at an average cost of $23.33 per share, with a total value of $499,262.00. Following the completion of the transaction, the chief executive officer now owns 21,400 shares in the company, valued at approximately $499,262. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders bought 1,626,400 shares of company stock valued at $30,616,312 in the last quarter. Company 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.