Avoro Capital Advisors LLC Invests $46.68 Million in Viridian Therapeutics, Inc. $VRDN

Avoro Capital Advisors LLC acquired a new position in Viridian Therapeutics, Inc. (NASDAQ:VRDN) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 1,500,000 shares of the company’s stock, valued at approximately $46,680,000. Viridian Therapeutics accounts for about 0.5% of Avoro Capital Advisors LLC’s portfolio, making the stock its 24th biggest holding.

Several other hedge funds also recently made changes to their positions in VRDN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Viridian Therapeutics by 1.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company’s stock worth $669,000 after purchasing an additional 876 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Viridian Therapeutics by 33.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,231,092 shares of the company’s stock worth $16,595,000 after buying an additional 310,998 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of 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 worth $1,760,000 after buying an additional 14,788 shares during the period. Envestnet Asset Management Inc. acquired a new position in shares of Viridian Therapeutics in the second quarter worth about $187,000. Finally, Creative Planning acquired a new position in shares of Viridian Therapeutics in the second quarter worth about $179,000.

Viridian Therapeutics Stock Performance

VRDN stock opened at $15.98 on Wednesday. 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 $1.65 billion, a P/E ratio of -4.81 and a beta of 0.90. The firm has a 50 day simple moving average of $15.85 and a 200 day simple moving average of $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 posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.90) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.16. The business had revenue of $0.14 million during 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%. The firm’s quarterly revenue was up 95.8% compared to the same quarter last year. During the same period last year, the company posted ($0.87) earnings per share. Research analysts anticipate that Viridian Therapeutics, Inc. will post -3.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on VRDN shares. The Goldman Sachs Group decreased their target price on shares of Viridian Therapeutics from $36.00 to $31.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Royal Bank Of Canada raised their target price on shares of Viridian Therapeutics from $30.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Wells Fargo & Company decreased their target price on shares of Viridian Therapeutics from $29.00 to $20.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Evercore set a $26.00 target price on shares of Viridian Therapeutics in a report on Friday, May 15th. Finally, HC Wainwright decreased their target price on shares of Viridian Therapeutics from $34.00 to $22.00 and set a “buy” rating for the company in a report on Tuesday, March 31st. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.14.

Insider Activity at Viridian Therapeutics

In related news, Director Fairmount Funds Management Llc purchased 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 completion of the acquisition, the director owned 5,090,928 shares in the company, valued at $86,545,776. This trade represents a 30.05% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Viridian Therapeutics Company 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.