JPMorgan Chase & Co. Purchases 274,641 Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN)

JPMorgan Chase & Co. boosted its position in Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 218.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 400,351 shares of the company’s stock after purchasing an additional 274,641 shares during the period. JPMorgan Chase & Co. owned approximately 0.51% of Viridian Therapeutics worth $9,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in VRDN. Quest Partners LLC raised its stake in shares of Viridian Therapeutics by 344.0% during the second quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock valued at $79,000 after acquiring an additional 4,692 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Viridian Therapeutics during the third quarter valued at approximately $149,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Viridian Therapeutics during the third quarter valued at approximately $208,000. Arizona State Retirement System raised its stake in shares of Viridian Therapeutics by 14.7% during the second quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock valued at $171,000 after acquiring an additional 1,688 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Viridian Therapeutics by 17.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,997 shares of the company’s stock valued at $318,000 after acquiring an additional 2,036 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages recently commented on VRDN. Royal Bank of Canada boosted their price objective on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Wells Fargo & Company reissued an “equal weight” rating and issued a $27.00 price objective (down previously from $37.00) on shares of Viridian Therapeutics in a research note on Thursday, December 19th. BTIG Research boosted their price objective on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. HC Wainwright reissued a “buy” rating and issued a $34.00 price objective on shares of Viridian Therapeutics in a research note on Monday, December 16th. Finally, TD Cowen began coverage on shares of Viridian Therapeutics in a research note on Monday, November 25th. They issued a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.70.

Viridian Therapeutics Price Performance

Shares of VRDN opened at $17.77 on Tuesday. The firm has a market capitalization of $1.41 billion, a PE ratio of -4.12 and a beta of 1.13. 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, Inc. has a 1-year low of $11.40 and a 1-year high of $27.20. The company’s fifty day moving average price is $20.44 and its 200-day moving average price is $18.97.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) earnings per share 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 analysts’ expectations of $0.08 million. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. On average, equities research analysts predict that Viridian Therapeutics, Inc. will post -4.03 EPS for the current year.

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.