Great Point Partners LLC Purchases 250,000 Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Great Point Partners LLC grew its holdings in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 50.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 750,000 shares of the company’s stock after acquiring an additional 250,000 shares during the period. Viridian Therapeutics comprises about 5.0% of Great Point Partners LLC’s investment portfolio, making the stock its 5th biggest holding. Great Point Partners LLC’s holdings in Viridian Therapeutics were worth $17,062,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Quest Partners LLC grew its stake in 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 purchasing an additional 4,692 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Viridian Therapeutics during the third quarter worth approximately $208,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Viridian Therapeutics by 24.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock worth $156,000 after buying an additional 2,359 shares during the last quarter. AlphaCentric Advisors LLC raised 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 valued at $163,000 after acquiring an additional 6,500 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in Viridian Therapeutics by 14.7% during the 2nd 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 during the last quarter.

Viridian Therapeutics Price Performance

Shares of VRDN opened at $21.91 on Wednesday. Viridian Therapeutics, Inc. has a one year low of $11.40 and a one year high of $27.20. The stock’s fifty day moving average is $22.72 and its 200-day moving average is $17.24. The company has a debt-to-equity ratio of 0.04, a quick ratio of 18.55 and a current ratio of 18.55. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of -5.08 and a beta of 1.10.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.04). Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. The company had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.08 million. Equities analysts anticipate that Viridian Therapeutics, Inc. will post -4.04 EPS for the current year.

Insider Activity at Viridian Therapeutics

In other news, Director Fairmount Funds Management Llc bought 1,600,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were purchased at an average cost of $18.75 per share, with a total value of $30,000,000.00. Following the completion of the acquisition, the director now directly owns 3,445,813 shares in the company, valued at approximately $64,608,993.75. The trade was a 86.68 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen F. Mahoney bought 21,400 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was acquired at an average price of $23.33 per share, for a total transaction of $499,262.00. Following the completion of the acquisition, the chief executive officer now directly owns 21,400 shares in the company, valued at approximately $499,262. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 1,626,400 shares of company stock worth $30,616,312 over the last quarter. 0.65% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $44.00 target price on shares of Viridian Therapeutics in a research note on Thursday, September 19th. BTIG Research upped their price objective on Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price target on shares of Viridian Therapeutics in a report on Monday. The Goldman Sachs Group upped their price target on Viridian Therapeutics from $25.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Finally, HC Wainwright lifted their price objective on shares of Viridian Therapeutics from $27.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.33.

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.