Principal Financial Group Inc. Decreases Stock Position in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Principal Financial Group Inc. lowered its stake in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 14.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,145 shares of the company’s stock after selling 1,770 shares during the quarter. Principal Financial Group Inc.’s holdings in Viridian Therapeutics were worth $132,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in VRDN. Ameritas Investment Partners Inc. lifted its holdings in Viridian Therapeutics by 19.2% in the first quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company’s stock valued at $87,000 after acquiring an additional 799 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Viridian Therapeutics by 24.6% during the 2nd 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 in the last quarter. AlphaCentric Advisors LLC grew 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 buying an additional 6,500 shares in the last quarter. Virtu Financial LLC purchased a new stake in Viridian Therapeutics during the 4th quarter worth $424,000. Finally, American International Group Inc. boosted its stake in shares of Viridian Therapeutics by 15.4% during the 1st quarter. American International Group Inc. now owns 24,515 shares of the company’s stock valued at $429,000 after buying an additional 3,266 shares during the last quarter.

Viridian Therapeutics Price Performance

Shares of Viridian Therapeutics stock opened at $22.06 on Monday. The firm’s 50-day moving average price is $15.39 and its two-hundred day moving average price is $14.98. The company has a current ratio of 15.82, a quick ratio of 15.82 and a debt-to-equity ratio of 0.05. Viridian Therapeutics, Inc. has a 1-year low of $10.93 and a 1-year high of $24.18. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of -4.90 and a beta of 1.03.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.15). The company had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.09 million. Viridian Therapeutics had a negative net margin of 79,185.77% and a negative return on equity of 83.18%. On average, equities analysts predict that Viridian Therapeutics, Inc. will post -3.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. BTIG Research lifted their price target on shares of Viridian Therapeutics from $46.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Wedbush reiterated an “outperform” rating and issued a $42.00 price target on shares of Viridian Therapeutics in a research report on Monday, July 29th. Wolfe Research assumed coverage on shares of Viridian Therapeutics in a report on Tuesday, June 11th. They set an “outperform” rating and a $29.00 price target on the stock. The Goldman Sachs Group boosted their target price on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Royal Bank of Canada increased their price objective on Viridian Therapeutics from $35.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.30.

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.