1,500,000 Shares in Viridian Therapeutics, Inc. $VRDN Purchased by Avoro Capital Advisors LLC

Avoro Capital Advisors LLC acquired a new position in Viridian Therapeutics, Inc. (NASDAQ:VRDN) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,500,000 shares of the company’s stock, valued at approximately $46,680,000. Viridian Therapeutics accounts for approximately 0.5% of Avoro Capital Advisors LLC’s portfolio, making the stock its 24th largest holding. Avoro Capital Advisors LLC owned approximately 1.57% of Viridian Therapeutics at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Viridian Therapeutics by 29.6% in the 4th quarter. Vanguard Group Inc. now owns 5,612,144 shares of the company’s stock worth $174,650,000 after acquiring an additional 1,280,161 shares during the period. Commodore Capital LP increased its holdings in shares of Viridian Therapeutics by 35.4% in the 2nd 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 during the period. State Street Corp increased its holdings in shares of Viridian Therapeutics by 35.7% in the 4th quarter. State Street Corp now owns 3,466,560 shares of the company’s stock worth $107,879,000 after acquiring an additional 912,394 shares during the period. Geode Capital Management LLC increased its holdings in shares of Viridian Therapeutics by 12.8% in the 4th quarter. Geode Capital Management LLC now owns 1,992,174 shares of the company’s stock worth $62,007,000 after acquiring an additional 225,987 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in shares of Viridian Therapeutics by 48.2% in the 4th quarter. Fisher Asset Management LLC now owns 1,780,284 shares of the company’s stock worth $55,402,000 after acquiring an additional 579,058 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on VRDN. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viridian Therapeutics in a report on Monday, April 20th. Wells Fargo & Company lowered their target price on shares of Viridian Therapeutics from $29.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 31st. Royal Bank Of Canada raised their target price on shares of Viridian Therapeutics from $30.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Needham & Company LLC reissued a “buy” rating and set a $32.00 target price on shares of Viridian Therapeutics in a research note on Tuesday, May 5th. Finally, Wall Street Zen raised shares of Viridian Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Sunday. Twelve 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.com, the company has a consensus rating of “Moderate Buy” and an average target price of $36.14.

Viridian Therapeutics Stock Down 2.0%

Viridian Therapeutics stock opened at $15.98 on Wednesday. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of -4.81 and a beta of 0.90. The company has a current ratio of 15.15, a quick ratio of 15.15 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average price is $15.85 and its two-hundred day moving average price is $25.03. Viridian Therapeutics, Inc. has a 52 week low of $13.18 and a 52 week high of $34.29.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Tuesday, May 5th. The company reported ($0.90) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.16. The firm had revenue of $0.14 million for the quarter, compared to analysts’ expectations of $0.04 million. Viridian Therapeutics had a negative net margin of 490.31% and a negative return on equity of 80.19%. Viridian Therapeutics’s quarterly revenue was up 95.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.87) EPS. On average, analysts expect that Viridian Therapeutics, Inc. will post -3.87 EPS for the current fiscal year.

Insider Activity

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc acquired 1,176,470 shares of the stock in a transaction dated Monday, May 11th. The shares were bought at an average price of $17.00 per share, with a total value of $19,999,990.00. Following the purchase, the director directly owned 5,090,928 shares of the company’s stock, valued at approximately $86,545,776. This trade represents a 30.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.40% of the stock is owned by corporate insiders.

About Viridian Therapeutics

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.