Geode Capital Management LLC Has $33.98 Million Stock Holdings in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Geode Capital Management LLC raised its stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 5.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,493,311 shares of the company’s stock after purchasing an additional 81,951 shares during the period. Geode Capital Management LLC owned 1.89% of Viridian Therapeutics worth $33,979,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in Viridian Therapeutics by 37.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 208,676 shares of the company’s stock worth $2,715,000 after buying an additional 56,814 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Viridian Therapeutics by 24.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock worth $156,000 after purchasing an additional 2,359 shares during the period. Rhumbline Advisers lifted its holdings in shares of Viridian Therapeutics by 34.5% in the 2nd quarter. Rhumbline Advisers now owns 90,826 shares of the company’s stock worth $1,182,000 after purchasing an additional 23,305 shares in the last quarter. Arizona State Retirement System grew its position in Viridian Therapeutics by 14.7% in the 2nd quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock valued at $171,000 after purchasing an additional 1,688 shares during the period. Finally, Candriam S.C.A. increased its stake in Viridian Therapeutics by 167.8% during the 2nd quarter. Candriam S.C.A. now owns 749,804 shares of the company’s stock valued at $9,754,000 after purchasing an additional 469,804 shares in the last quarter.

Insider Activity at Viridian Therapeutics

In related news, COO Thomas W. Beetham acquired 5,000 shares of the stock in a transaction dated Friday, September 27th. The shares were purchased at an average price of $23.41 per share, for a total transaction of $117,050.00. Following the transaction, the chief operating officer now owns 6,000 shares in the company, valued at $140,460. This represents a 500.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Stephen F. Mahoney bought 21,400 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was bought at an average price of $23.33 per share, with a total value of $499,262.00. Following the completion of the transaction, the chief executive officer now directly 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. 0.65% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on VRDN shares. TD Cowen initiated coverage on shares of Viridian Therapeutics in a report on Monday, November 25th. They set a “buy” rating for 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 report on Thursday, September 12th. Needham & Company LLC restated a “buy” rating and issued a $38.00 target price on shares of Viridian Therapeutics in a report on Monday, November 25th. Royal Bank of Canada increased their price target on Viridian Therapeutics from $44.00 to $47.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $27.00 price objective (down from $37.00) on shares of Viridian Therapeutics in a report on Thursday, December 19th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.70.

Viridian Therapeutics Price Performance

NASDAQ VRDN opened at $19.31 on Thursday. 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 has a market cap of $1.53 billion, a PE ratio of -4.48 and a beta of 1.04. Viridian Therapeutics, Inc. has a 52 week low of $11.40 and a 52 week high of $27.20. The firm’s 50-day simple moving average is $21.45 and its two-hundred day simple moving average is $18.30.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) 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 during the quarter, compared to the consensus estimate of $0.08 million. Research analysts predict that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current year.

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.