Viridian Therapeutics, Inc. (NASDAQ:VRDN) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its position in Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 21.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,732 shares of the company’s stock after selling 6,955 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Viridian Therapeutics were worth $563,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of VRDN. SG Americas Securities LLC acquired a new position in shares of Viridian Therapeutics in the second quarter valued at approximately $599,000. Hennion & Walsh Asset Management Inc. increased 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 worth $2,327,000 after acquiring an additional 69,035 shares during the period. AlphaCentric Advisors LLC raised its stake in shares of Viridian Therapeutics by 108.3% in the second quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock valued at $163,000 after acquiring an additional 6,500 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Viridian Therapeutics by 37.4% in the second quarter. Bank of New York Mellon Corp now owns 208,676 shares of the company’s stock valued at $2,715,000 after purchasing an additional 56,814 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Viridian Therapeutics by 24.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock valued at $156,000 after purchasing an additional 2,359 shares in the last quarter.

Viridian Therapeutics Trading Down 0.8 %

VRDN opened at $17.85 on Friday. The company has a quick ratio of 18.55, a current ratio of 18.55 and a debt-to-equity ratio of 0.04. Viridian Therapeutics, Inc. has a 52 week low of $11.40 and a 52 week high of $27.20. The business’s 50 day moving average is $22.04 and its two-hundred day moving average is $17.88. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -4.14 and a beta of 1.04.

Viridian Therapeutics (NASDAQ:VRDN) last announced its earnings results on Tuesday, November 12th. The company reported ($1.15) 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 analyst estimates of $0.08 million. On average, research analysts predict that Viridian Therapeutics, Inc. will post -4.03 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. The Goldman Sachs Group boosted their price objective on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $44.00 price objective on shares of Viridian Therapeutics in a research report on Thursday, December 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 price objective on shares of Viridian Therapeutics in a research report on Monday, November 25th. BTIG Research raised their price target on Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, TD Cowen started coverage on Viridian Therapeutics in a research report 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 issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $36.33.

Insider Activity

In related news, CEO Stephen F. Mahoney bought 21,400 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were acquired at an average price of $23.33 per share, with a total value of $499,262.00. Following the completion of the acquisition, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Thomas W. Beetham purchased 5,000 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were bought at an average price of $23.41 per share, with a total value of $117,050.00. Following the purchase, the chief operating officer now directly owns 6,000 shares of the company’s stock, valued at approximately $140,460. The trade was a 500.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.65% of the company’s stock.

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.