Velan Capital Investment Management LP Makes New $1.21 Million Investment in Viridian Therapeutics, Inc. $VRDN

Velan Capital Investment Management LP purchased a new stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 86,500 shares of the company’s stock, valued at approximately $1,209,000. Viridian Therapeutics accounts for approximately 1.2% of Velan Capital Investment Management LP’s holdings, making the stock its 22nd largest position. Velan Capital Investment Management LP owned 0.11% of Viridian Therapeutics as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in VRDN. Y Intercept Hong Kong Ltd purchased a new stake in shares of Viridian Therapeutics during the 2nd quarter valued at approximately $170,000. Creative Planning acquired a new stake in Viridian Therapeutics during the second quarter worth $179,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Viridian Therapeutics during the second quarter worth $180,000. Envestnet Asset Management Inc. purchased a new stake in Viridian Therapeutics in the second quarter valued at $187,000. Finally, EntryPoint Capital LLC purchased a new stake in Viridian Therapeutics in the first quarter valued at $185,000.

Viridian Therapeutics Trading Down 0.3%

Shares of VRDN stock opened at $31.80 on Wednesday. Viridian Therapeutics, Inc. has a fifty-two week low of $9.90 and a fifty-two week high of $33.34. The company has a 50 day moving average price of $26.11 and a 200 day moving average price of $20.24. The stock has a market capitalization of $3.04 billion, a P/E ratio of -10.53 and a beta of 0.86. The company has a debt-to-equity ratio of 0.07, a quick ratio of 11.28 and a current ratio of 11.28.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Wednesday, November 5th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.48. The company had revenue of $70.57 million for the quarter, compared to analyst estimates of $16.21 million. Viridian Therapeutics had a negative net margin of 426.58% and a negative return on equity of 78.50%. The firm’s revenue for the quarter was up 81993.0% on a year-over-year basis. Equities research analysts predict that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

VRDN has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Viridian Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viridian Therapeutics in a research report on Wednesday, October 8th. Oppenheimer boosted their price target on shares of Viridian Therapeutics from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $40.00 price objective on shares of Viridian Therapeutics in a research report on Thursday, November 6th. Finally, William Blair started coverage on Viridian Therapeutics in a research report on Wednesday, December 3rd. They issued an “outperform” rating on the stock. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $41.08.

Insider Transactions at Viridian Therapeutics

In related news, Director Fairmount Funds Management Llc bought 454,545 shares of the firm’s stock in a transaction that occurred on Thursday, October 23rd. The stock was purchased at an average cost of $22.00 per share, for a total transaction of $9,999,990.00. Following the completion of the acquisition, the director owned 3,914,458 shares in the company, valued at approximately $86,118,076. This trade represents a 13.14% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.65% of the company’s stock.

About Viridian Therapeutics

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.