Teacher Retirement System of Texas Boosts Stock Position in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Teacher Retirement System of Texas increased its stake in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 21.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,015 shares of the company’s stock after buying an additional 3,028 shares during the quarter. Teacher Retirement System of Texas’ holdings in Viridian Therapeutics were worth $326,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swiss National Bank raised its holdings in shares of Viridian Therapeutics by 4.2% during the 4th quarter. Swiss National Bank now owns 112,600 shares of the company’s stock worth $2,159,000 after acquiring an additional 4,500 shares during the period. AlphaQuest LLC grew its holdings in shares of Viridian Therapeutics by 119.0% in the fourth quarter. AlphaQuest LLC now owns 2,795 shares of the company’s stock valued at $54,000 after purchasing an additional 1,519 shares during the period. E Fund Management Co. Ltd. acquired a new stake in Viridian Therapeutics during the fourth quarter worth about $235,000. Raymond James Financial Inc. purchased a new position in Viridian Therapeutics during the fourth quarter worth about $6,015,000. Finally, Arizona State Retirement System boosted its holdings in Viridian Therapeutics by 19.5% in the 4th quarter. Arizona State Retirement System now owns 16,596 shares of the company’s stock valued at $318,000 after purchasing an additional 2,708 shares during the last quarter.

Wall Street Analysts Forecast Growth

VRDN has been the topic of a number of research analyst reports. Royal Bank of Canada lifted their target price on Viridian Therapeutics from $44.00 to $47.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. HC Wainwright restated a “buy” rating and issued a $34.00 price objective on shares of Viridian Therapeutics in a report on Monday, December 16th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $27.00 target price (down previously from $37.00) on shares of Viridian Therapeutics in a research note on Thursday, December 19th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $38.00 price target on shares of Viridian Therapeutics in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.70.

Viridian Therapeutics Stock Down 6.8 %

Shares of Viridian Therapeutics stock opened at $12.56 on Wednesday. Viridian Therapeutics, Inc. has a 52-week low of $11.40 and a 52-week high of $27.20. The company has a 50 day moving average of $16.54 and a 200 day moving average of $19.59. 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 capitalization of $1.02 billion, a P/E ratio of -2.91 and a beta of 1.05.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.81) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.05) by $0.24. 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 $0.07 million during the quarter, compared to analysts’ expectations of $0.05 million. As a group, research analysts forecast that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal 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.