Simplify Asset Management Inc. Purchases 53,531 Shares of Viridian Therapeutics, Inc. $VRDN

Simplify Asset Management Inc. boosted its position in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 107.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 103,531 shares of the company’s stock after purchasing an additional 53,531 shares during the quarter. Simplify Asset Management Inc.’s holdings in Viridian Therapeutics were worth $3,222,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP raised its holdings in Viridian Therapeutics by 46.6% during the 3rd quarter. Hudson Bay Capital Management LP now owns 175,251 shares of the company’s stock worth $3,782,000 after purchasing an additional 55,689 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Viridian Therapeutics by 135.6% during the 3rd quarter. Fisher Asset Management LLC now owns 1,201,226 shares of the company’s stock worth $25,922,000 after purchasing an additional 691,267 shares during the last quarter. Propel Bio Management LLC bought a new stake in Viridian Therapeutics during the 3rd quarter worth about $1,942,000. Y Intercept Hong Kong Ltd raised its holdings in Viridian Therapeutics by 430.3% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 64,594 shares of the company’s stock worth $1,394,000 after purchasing an additional 52,414 shares during the last quarter. Finally, Jennison Associates LLC bought a new stake in Viridian Therapeutics during the 4th quarter worth about $35,915,000.

Viridian Therapeutics Price Performance

Shares of VRDN opened at $17.24 on Monday. 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 50 day simple moving average of $18.85 and a 200 day simple moving average of $26.47. Viridian Therapeutics, Inc. has a 52-week low of $13.18 and a 52-week high of $34.29. The firm has a market capitalization of $1.78 billion, a PE ratio of -5.19 and a beta of 0.82.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.90) earnings per share (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 business had revenue of $0.14 million during the quarter, compared to analyst estimates of $0.04 million. During the same period in the previous year, the firm earned ($0.87) EPS. Viridian Therapeutics’s quarterly revenue was up 95.8% compared to the same quarter last year. Sell-side analysts predict that Viridian Therapeutics, Inc. will post -3.71 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 firm’s stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $19,999,990.00. Following the transaction, the director owned 5,090,928 shares of the company’s stock, valued at $86,545,776. This trade represents a 30.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.40% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on VRDN. Stifel Nicolaus set a $39.00 price objective on Viridian Therapeutics in a report on Wednesday, May 13th. Truist Financial lowered their price target on Viridian Therapeutics from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viridian Therapeutics in a research note on Monday, April 20th. Wedbush lowered their price target on Viridian Therapeutics from $37.00 to $31.00 and set an “outperform” rating for the company in a research note on Wednesday, April 8th. Finally, Evercore set a $26.00 price target on Viridian Therapeutics in a research note on Friday, May 15th. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Viridian Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.14.

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.