Simplify Asset Management Inc. Purchases Shares of 50,000 Viridian Therapeutics, Inc. $VRDN

Simplify Asset Management Inc. acquired a new position in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 50,000 shares of the company’s stock, valued at approximately $1,079,000. Simplify Asset Management Inc. owned approximately 0.06% of Viridian Therapeutics at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Commodore Capital LP boosted its holdings in Viridian Therapeutics by 35.4% in the second quarter. Commodore Capital LP now owns 4,875,000 shares of the company’s stock worth $68,152,000 after acquiring an additional 1,275,000 shares in the last quarter. Maverick Capital Ltd. raised its position in shares of Viridian Therapeutics by 9.5% during the second quarter. Maverick Capital Ltd. now owns 2,257,010 shares of the company’s stock worth $31,553,000 after purchasing an additional 195,736 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Viridian Therapeutics by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,740,614 shares of the company’s stock worth $24,337,000 after purchasing an additional 20,089 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Viridian Therapeutics by 33.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,231,092 shares of the company’s stock worth $16,595,000 after purchasing an additional 310,998 shares in the last quarter. Finally, Marshall Wace LLP grew its position in Viridian Therapeutics by 11.4% in the 2nd quarter. Marshall Wace LLP now owns 1,207,871 shares of the company’s stock valued at $16,886,000 after purchasing an additional 123,831 shares during the period.

Wall Street Analysts Forecast Growth

VRDN has been the topic of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Viridian Therapeutics in a report on Wednesday, October 8th. Wedbush boosted their target price on shares of Viridian Therapeutics from $42.00 to $47.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 10th. Wall Street Zen upgraded Viridian Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. BTIG Research reissued a “buy” rating and set a $61.00 price objective on shares of Viridian Therapeutics in a report on Tuesday, November 4th. Finally, William Blair began coverage on Viridian Therapeutics in a report on Wednesday, December 3rd. They issued an “outperform” rating on the stock. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Viridian Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $41.75.

Viridian Therapeutics Trading Down 1.1%

NASDAQ:VRDN opened at $31.54 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 11.28 and a current ratio of 11.28. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of -10.44 and a beta of 0.86. Viridian Therapeutics, Inc. has a 52 week low of $9.90 and a 52 week high of $34.04. The firm has a 50-day moving average price of $29.06 and a two-hundred day moving average price of $22.01.

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

Insiders Place Their Bets

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc acquired 454,545 shares of Viridian Therapeutics stock in a transaction on Thursday, October 23rd. The stock was purchased at an average price of $22.00 per share, for a total transaction of $9,999,990.00. Following the purchase, the director directly owned 3,914,458 shares of the company’s stock, valued at $86,118,076. This trade represents a 13.14% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.65% of the company’s stock.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc (NASDAQ: VRDN) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted antibody therapeutics for patients suffering from rare and serious diseases. The company’s lead program, VRDN-001, is a fully human monoclonal antibody that antagonizes the insulin-like growth factor-1 receptor (IGF-1R), with an initial focus on thyroid eye disease (TED). By selectively inhibiting IGF-1R signaling, VRDN-001 aims to reduce inflammation and tissue remodeling associated with TED and related disorders.

In addition to VRDN-001, Viridian is advancing a second antibody program, VRDN-002, which targets complement-mediated pathways implicated in autoimmune and inflammatory diseases.