Viridian Therapeutics, Inc. (NASDAQ:VRDN) Director Fairmount Funds Management Llc Purchases 1,600,000 Shares

Viridian Therapeutics, Inc. (NASDAQ:VRDN) Director Fairmount Funds Management Llc bought 1,600,000 shares of Viridian Therapeutics stock in a transaction that occurred on Friday, September 13th. The stock was bought at an average price of $18.75 per share, for a total transaction of $30,000,000.00. Following the completion of the acquisition, the director now directly owns 3,445,813 shares of the company’s stock, valued at $64,608,993.75. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Viridian Therapeutics Price Performance

VRDN opened at $21.18 on Wednesday. The firm’s fifty day moving average price is $15.75 and its two-hundred day moving average price is $15.01. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of -4.71 and a beta of 1.03. The company has a debt-to-equity ratio of 0.05, a current ratio of 15.82 and a quick ratio of 15.82. Viridian Therapeutics, Inc. has a 1 year low of $10.93 and a 1 year high of $24.18.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings results on Thursday, August 8th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.15). The firm had revenue of $0.07 million for the quarter, compared to analysts’ expectations 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, analysts anticipate that Viridian Therapeutics, Inc. will post -3.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

VRDN has been the topic of a number of research analyst reports. Wolfe Research initiated coverage on Viridian Therapeutics in a report on Tuesday, June 11th. They set an “outperform” rating and a $29.00 price target on the stock. Royal Bank of Canada increased their price target on Viridian Therapeutics from $35.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, September 13th. Wedbush restated an “outperform” rating and set a $42.00 price target on shares of Viridian Therapeutics in a report on Monday, July 29th. BTIG Research increased their price target on Viridian Therapeutics from $46.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, HC Wainwright restated a “buy” rating and set a $27.00 price target on shares of Viridian Therapeutics in a report on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Viridian Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $35.30.

Hedge Funds Weigh In On Viridian Therapeutics

Institutional investors have recently modified their holdings of the business. RTW Investments LP bought a new stake in Viridian Therapeutics during the fourth quarter worth $13,195,000. Perceptive Advisors LLC raised its stake in shares of Viridian Therapeutics by 71.1% during the 4th quarter. Perceptive Advisors LLC now owns 1,730,212 shares of the company’s stock worth $37,684,000 after purchasing an additional 719,007 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Viridian Therapeutics by 62.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 178,855 shares of the company’s stock worth $2,327,000 after buying an additional 69,035 shares during the last quarter. Vanguard Group Inc. grew its position in Viridian Therapeutics by 7.8% during the first quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company’s stock valued at $56,632,000 after buying an additional 233,331 shares during the period. Finally, Candriam S.C.A. grew its position in Viridian Therapeutics by 167.8% during the second quarter. Candriam S.C.A. now owns 749,804 shares of the company’s stock valued at $9,754,000 after buying an additional 469,804 shares during the period.

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.