Viridian Therapeutics, Inc. $VRDN is Propel Bio Management LLC’s 4th Largest Position

Propel Bio Management LLC raised its holdings in Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 213.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 282,531 shares of the company’s stock after purchasing an additional 192,531 shares during the period. Viridian Therapeutics comprises 7.5% of Propel Bio Management LLC’s holdings, making the stock its 4th largest position. Propel Bio Management LLC owned about 0.30% of Viridian Therapeutics worth $8,792,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of VRDN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Viridian Therapeutics by 1.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company’s stock valued at $669,000 after purchasing an additional 876 shares during the period. Goldman Sachs Group Inc. grew its holdings in Viridian Therapeutics by 33.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,231,092 shares of the company’s stock valued at $16,595,000 after purchasing an additional 310,998 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Viridian Therapeutics by 12.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 130,570 shares of the company’s stock valued at $1,760,000 after purchasing an additional 14,788 shares during the period. Envestnet Asset Management Inc. acquired a new stake in Viridian Therapeutics in the second quarter valued at approximately $187,000. Finally, Creative Planning acquired a new stake in Viridian Therapeutics in the second quarter valued at approximately $179,000.

Wall Street Analysts Forecast Growth

Several brokerages have commented on VRDN. Needham & Company LLC reissued a “buy” rating and issued a $32.00 price objective on shares of Viridian Therapeutics in a report on Tuesday, May 5th. The Goldman Sachs Group dropped their price objective on Viridian Therapeutics from $36.00 to $31.00 and set a “buy” rating on the stock in a report on Tuesday, April 7th. Wells Fargo & Company dropped their price objective on Viridian Therapeutics from $29.00 to $20.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. Wedbush dropped their price objective on Viridian Therapeutics from $37.00 to $31.00 and set an “outperform” rating on the stock in a report on Wednesday, April 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Viridian Therapeutics in a report on Monday, April 20th. Twelve equities 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $36.14.

Insiders Place Their Bets

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc acquired 1,176,470 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average cost of $17.00 per share, for a total transaction of $19,999,990.00. Following the completion of the transaction, the director owned 5,090,928 shares of the company’s stock, valued at approximately $86,545,776. The trade was a 30.05% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.40% of the company’s stock.

Viridian Therapeutics Price Performance

NASDAQ:VRDN opened at $15.78 on Friday. Viridian Therapeutics, Inc. has a one year low of $13.18 and a one year high of $34.29. The company has a debt-to-equity ratio of 0.10, a quick ratio of 15.15 and a current ratio of 15.15. The stock has a market cap of $1.63 billion, a PE ratio of -4.75 and a beta of 0.90. The stock has a 50 day moving average price of $16.61 and a 200 day moving average price of $25.75.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly 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. Viridian Therapeutics had a negative return on equity of 80.19% and a negative net margin of 490.31%.The firm had revenue of $0.14 million during the quarter, compared to analysts’ expectations of $0.04 million. During the same quarter last year, the firm earned ($0.87) earnings per share. The business’s revenue for the quarter was up 95.8% on a year-over-year basis. Equities research analysts expect that Viridian Therapeutics, Inc. will post -3.87 EPS for the current fiscal year.

Viridian Therapeutics 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.