The Manufacturers Life Insurance Company Takes $3.31 Million Position in Viridian Therapeutics, Inc. $VRDN

The Manufacturers Life Insurance Company acquired a new position in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 180,348 shares of the company’s stock, valued at approximately $3,313,000. The Manufacturers Life Insurance Company owned 0.16% of Viridian Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in VRDN. ANTIPODES PARTNERS Ltd bought a new stake in Viridian Therapeutics in the fourth quarter valued at about $36,000. KBC Group NV bought a new stake in shares of Viridian Therapeutics in the 1st quarter valued at approximately $34,000. State of Wyoming acquired a new position in shares of Viridian Therapeutics in the 2nd quarter worth approximately $43,000. Larson Financial Group LLC acquired a new position in shares of Viridian Therapeutics in the 3rd quarter worth approximately $52,000. Finally, US Bancorp DE lifted its position in shares of Viridian Therapeutics by 23.2% during the 3rd quarter. US Bancorp DE now owns 2,457 shares of the company’s stock worth $53,000 after buying an additional 463 shares during the period.

Insiders Place Their Bets

In other Viridian Therapeutics news, insider Jennifer Tousignant sold 14,212 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $24.50, for a total transaction of $348,194.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on VRDN shares. The Goldman Sachs Group reiterated a “buy” rating and issued a $39.00 price target on shares of Viridian Therapeutics in a research report on Tuesday, June 30th. Wall Street Zen cut Viridian Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. Wells Fargo & Company upgraded shares of Viridian Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $20.00 to $31.00 in a research note on Monday, June 29th. Truist Financial upped their target price on shares of Viridian Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, Weiss Ratings downgraded shares of Viridian Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 30th. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.54.

Viridian Therapeutics Stock Down 0.6%

Shares of VRDN opened at $23.03 on Wednesday. The business’s fifty day moving average price is $20.79 and its two-hundred day moving average price is $20.59. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of -6.83 and a beta of 0.97. Viridian Therapeutics, Inc. has a 52 week low of $13.18 and a 52 week high of $34.29. The company has a debt-to-equity ratio of 0.43, a quick ratio of 16.95 and a current ratio of 16.95.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($0.02). The firm had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.06 million. Viridian Therapeutics had a negative net margin of 505.86% and a negative return on equity of 72.97%. On average, analysts predict that Viridian Therapeutics, Inc. will post -4.07 earnings per share for the current year.

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.