Great Point Partners LLC Sells 835,000 Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Great Point Partners LLC lessened its position in Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 62.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 500,000 shares of the company’s stock after selling 835,000 shares during the quarter. Viridian Therapeutics makes up about 1.2% of Great Point Partners LLC’s investment portfolio, making the stock its 25th largest holding. Great Point Partners LLC owned about 0.78% of Viridian Therapeutics worth $6,505,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quest Partners LLC boosted its holdings in shares of Viridian Therapeutics by 344.0% during the 2nd quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock valued at $79,000 after buying an additional 4,692 shares in the last quarter. Ameritas Investment Partners Inc. lifted its position in Viridian Therapeutics by 19.2% during the 1st 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 boosted its stake in 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 acquiring an additional 2,359 shares in the last quarter. AlphaCentric Advisors LLC grew its holdings in Viridian Therapeutics by 108.3% in the second quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock worth $163,000 after purchasing an additional 6,500 shares during the period. Finally, Arizona State Retirement System increased 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 purchasing an additional 1,688 shares in the last quarter.

Viridian Therapeutics Stock Performance

Shares of VRDN stock opened at $21.12 on Tuesday. The company has a quick ratio of 15.82, a current ratio of 15.82 and a debt-to-equity ratio of 0.05. The company has a 50 day moving average price of $16.42 and a 200-day moving average price of $15.09. Viridian Therapeutics, Inc. has a 52 week low of $10.93 and a 52 week high of $24.18. The firm has a market capitalization of $1.35 billion, a PE ratio of -4.69 and a beta of 1.03.

Viridian Therapeutics (NASDAQ:VRDN) last posted its earnings results on Thursday, August 8th. The company reported ($1.02) EPS 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 the consensus estimate of $0.09 million. Viridian Therapeutics had a negative return on equity of 83.18% and a negative net margin of 79,185.77%. As a group, equities research analysts expect that Viridian Therapeutics, Inc. will post -3.93 earnings per share for the current year.

Insider Activity at Viridian Therapeutics

In other news, Director Fairmount Funds Management Llc bought 1,600,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were acquired at an average cost of $18.75 per share, with a total value of $30,000,000.00. Following the completion of the transaction, the director now owns 3,445,813 shares of the company’s stock, valued at approximately $64,608,993.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.65% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wedbush reissued an “outperform” rating and issued a $42.00 price target on shares of Viridian Therapeutics in a research report on Monday, July 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $44.00 target price on shares of Viridian Therapeutics in a research note on Thursday, September 19th. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 price target on shares of Viridian Therapeutics in a research report on Tuesday, September 10th. The Goldman Sachs Group increased their price objective on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Finally, Wolfe Research started coverage on shares of Viridian Therapeutics in a report on Tuesday, June 11th. They issued an “outperform” rating and a $29.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.30.

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.