Viridian Therapeutics, Inc. (NASDAQ:VRDN) Shares Sold by State Street Corp

State Street Corp reduced its holdings in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 14.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,379,774 shares of the company’s stock after selling 392,605 shares during the quarter. State Street Corp owned approximately 3.00% of Viridian Therapeutics worth $54,140,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Quest Partners LLC grew its position in shares of Viridian Therapeutics by 344.0% in the second quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock valued at $79,000 after purchasing an additional 4,692 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Viridian Therapeutics during the third quarter worth $149,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Viridian Therapeutics in the third quarter worth $208,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Viridian Therapeutics by 24.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock valued at $156,000 after acquiring an additional 2,359 shares in the last quarter. Finally, AlphaCentric Advisors LLC boosted its stake in shares of Viridian Therapeutics by 108.3% during 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 during the last quarter.

Viridian Therapeutics Stock Performance

NASDAQ VRDN opened at $18.93 on Thursday. The business’s 50-day simple moving average is $21.87 and its 200-day simple moving average is $18.05. The firm has a market capitalization of $1.50 billion, a P/E ratio of -4.39 and a beta of 1.04. Viridian Therapeutics, Inc. has a 1-year low of $11.40 and a 1-year high of $27.20. The company has a debt-to-equity ratio of 0.04, a current ratio of 18.55 and a quick ratio of 18.55.

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

Insider Buying and Selling at Viridian Therapeutics

In other news, CEO Stephen F. Mahoney acquired 21,400 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 21,400 shares in the company, valued at approximately $499,262. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Thomas W. Beetham bought 5,000 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were acquired at an average cost of $23.41 per share, for a total transaction of $117,050.00. Following the completion of the transaction, the chief operating officer now owns 6,000 shares of the company’s stock, valued at approximately $140,460. The trade was a 500.00 % increase in their position. The disclosure for this purchase can be found here. 0.65% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. 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. BTIG Research raised their target price on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. HC Wainwright reiterated a “buy” rating and issued a $34.00 price target on shares of Viridian Therapeutics in a report on Monday. Royal Bank of Canada raised their price objective on Viridian Therapeutics from $44.00 to $47.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $38.00 target price on shares of Viridian Therapeutics in a research note on Monday, November 25th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.67.

Viridian Therapeutics Company 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.