180,892 Viridian Therapeutics, Inc. $VRDN Shares Sold by Candriam S.C.A.

Candriam S.C.A. lessened its holdings in Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 10.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,526,806 shares of the company’s stock after selling 180,892 shares during the quarter. Candriam S.C.A.’s holdings in Viridian Therapeutics were worth $31,552,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in VRDN. Bank of New York Mellon Corp boosted its position in Viridian Therapeutics by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 216,525 shares of the company’s stock worth $4,235,000 after buying an additional 659 shares during the period. ProShare Advisors LLC increased its position in Viridian Therapeutics by 6.6% in the 3rd quarter. ProShare Advisors LLC now owns 12,609 shares of the company’s stock valued at $260,000 after acquiring an additional 784 shares during the period. Pictet Asset Management Holding SA increased its position in Viridian Therapeutics by 13.5% in the 3rd quarter. Pictet Asset Management Holding SA now owns 12,741 shares of the company’s stock valued at $262,000 after acquiring an additional 1,516 shares during the period. KBC Group NV bought a new position in shares of Viridian Therapeutics during the first quarter valued at $34,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Viridian Therapeutics during the second quarter valued at $33,000.

Insider Activity

In related news, insider Jennifer Tousignant sold 14,212 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $24.50, for a total transaction of $348,194.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.40% of the stock is owned by corporate insiders.

Viridian Therapeutics Price Performance

VRDN stock opened at $28.49 on Monday. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of -7.42 and a beta of 1.07. The company has a quick ratio of 14.46, a current ratio of 14.46 and a debt-to-equity ratio of 0.50. Viridian Therapeutics, Inc. has a 12-month low of $13.18 and a 12-month high of $34.29. The company’s fifty day simple moving average is $21.97 and its 200 day simple moving average is $21.81.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings results on Wednesday, November 4th. The company reported ($0.81) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.21. Viridian Therapeutics had a negative return on equity of 79.67% and a negative net margin of 1,620.79%. The firm had revenue of $25.75 million during the quarter, compared to the consensus estimate of $4.72 million. On average, analysts expect that Viridian Therapeutics, Inc. will post -3.64 earnings per share for the current year.

Viridian Therapeutics News Roundup

Here are the key news stories impacting Viridian Therapeutics this week:

• Positive Sentiment: Viridian reported a third-quarter loss of $0.81 per share, narrower than analysts’ roughly $1.02-per-share estimate. The earnings beat, alongside optimism around the Lumvoa launch, has supported investor interest. Viridian Therapeutics Stock Rises 5% Despite Wider Q3 Loss
• Positive Sentiment: Analysts raised targets and maintained bullish ratings. Recent increases include Leerink Partners to $54, RBC to $41, Truist to $42, Wells Fargo to $34, Wedbush to $42 and HC Wainwright to $40. Zacks also noted a positive trend in earnings estimate revisions, though price targets are not guarantees. Zacks analyst outlook
• Neutral Sentiment: The company will present Phase 1 results for VRDN-008 and outline plans for its FcRn portfolio on November 9. The data and development plans could provide meaningful signals about the pipeline, but the outcome is not yet known. VRDN-008 conference call announcement

Analysts Set New Price Targets

A number of brokerages have recently commented on VRDN. Wells Fargo & Company lifted their price target on shares of Viridian Therapeutics from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday. Leerink Partners increased their price objective on Viridian Therapeutics from $50.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday. Weiss Ratings raised Viridian Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 14th. Royal Bank Of Canada lifted their target price on Viridian Therapeutics from $38.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Needham & Company LLC upped their price target on Viridian Therapeutics from $34.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, November 4th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Viridian Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for serious autoimmune diseases. The company’s lead research area is thyroid eye disease (TED), a debilitating condition that can cause eye inflammation, swelling, pain and vision-related complications.

Viridian’s pipeline is centered on antibodies designed to inhibit the insulin-like growth factor-1 receptor (IGF-1R), a target associated with TED. Its investigational therapies include veligrotug (VRDN-001), an intravenous treatment candidate, and VRDN-003, a subcutaneous formulation being developed to provide a more convenient administration option.