StoneCrest Wealth Management Inc. Reduces Position in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

StoneCrest Wealth Management Inc. decreased its holdings in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,859 shares of the company’s stock after selling 1,734 shares during the quarter. StoneCrest Wealth Management Inc.’s holdings in Viridian Therapeutics were worth $496,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. boosted its holdings in Viridian Therapeutics by 6.8% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 210,899 shares of the company’s stock valued at $4,043,000 after acquiring an additional 13,498 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Viridian Therapeutics by 218.5% during the third quarter. JPMorgan Chase & Co. now owns 400,351 shares of the company’s stock valued at $9,108,000 after purchasing an additional 274,641 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Viridian Therapeutics by 1,603.4% in the third quarter. Principal Financial Group Inc. now owns 172,810 shares of the company’s stock worth $3,931,000 after purchasing an additional 162,665 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in Viridian Therapeutics in the 3rd quarter worth about $8,917,000. Finally, Exome Asset Management LLC bought a new stake in Viridian Therapeutics during the 3rd quarter valued at about $3,968,000.

Analyst Upgrades and Downgrades

VRDN has been the topic of a number of research analyst reports. Royal Bank of Canada upped their target price on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. BTIG Research boosted their price target on Viridian Therapeutics from $56.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, September 26th. TD Cowen began coverage on Viridian Therapeutics in a report on Monday, November 25th. They set a “buy” rating on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 target price on shares of Viridian Therapeutics in a report on Tuesday, January 7th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $27.00 price target (down previously from $37.00) on shares of Viridian Therapeutics in a research note on Thursday, December 19th. Three 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 has an average rating of “Moderate Buy” and an average price target of $35.70.

Viridian Therapeutics Price Performance

Shares of NASDAQ VRDN opened at $17.06 on Friday. Viridian Therapeutics, Inc. has a fifty-two week low of $11.40 and a fifty-two week high of $27.20. The company has a market cap of $1.35 billion, a PE ratio of -3.96 and a beta of 1.13. 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 business has a 50-day simple moving average of $20.18 and a two-hundred day simple moving average of $18.98.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. The company had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.08 million. As a group, equities analysts expect that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

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.