Blue Owl Capital Holdings LP Buys Shares of 260,000 Viridian Therapeutics, Inc. $VRDN

Blue Owl Capital Holdings LP bought a new position in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 260,000 shares of the company’s stock, valued at approximately $4,776,000. Viridian Therapeutics comprises 0.7% of Blue Owl Capital Holdings LP’s holdings, making the stock its 23rd largest holding.

A number of other hedge funds have also modified their holdings of the company. Merck & Co. Inc. acquired a new position in shares of Viridian Therapeutics in the 2nd quarter valued at $1,716,015,000. Bank of America Corp DE grew its stake in Viridian Therapeutics by 17.5% in the first quarter. Bank of America Corp DE now owns 1,163,615 shares of the company’s stock valued at $22,760,000 after acquiring an additional 173,498 shares during the period. Rice Hall James & Associates LLC bought a new stake in shares of Viridian Therapeutics in the second quarter worth about $21,601,000. Perceptive Advisors LLC raised its position in shares of Viridian Therapeutics by 108.1% during the fourth quarter. Perceptive Advisors LLC now owns 3,042,703 shares of the company’s stock worth $94,689,000 after purchasing an additional 1,580,303 shares during the period. Finally, Jennison Associates LLC bought a new position in shares of Viridian Therapeutics during the 4th quarter valued at about $35,915,000.

Insider Activity

In other news, insider Jennifer Tousignant sold 14,212 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $24.50, for a total value of $348,194.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on VRDN. Needham & Company LLC reissued a “buy” rating and set a $32.00 target price on shares of Viridian Therapeutics in a research note on Monday, June 29th. Wall Street Zen downgraded shares of Viridian Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Evercore set a $26.00 price objective on shares of Viridian Therapeutics in a research report on Friday, May 15th. Royal Bank Of Canada increased their target price on Viridian Therapeutics from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Finally, Wells Fargo & Company raised Viridian Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $20.00 to $31.00 in a research note on Monday, June 29th. Thirteen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Viridian Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.93.

Viridian Therapeutics Stock Down 1.2%

Shares of VRDN stock opened at $24.50 on Friday. The firm’s fifty day moving average price is $19.66 and its two-hundred day moving average price is $20.97. The company has a current ratio of 16.95, a quick ratio of 16.95 and a debt-to-equity ratio of 0.43. Viridian Therapeutics, Inc. has a 1 year low of $13.18 and a 1 year high of $34.29. The firm has a market capitalization of $2.78 billion, a P/E ratio of -7.27 and a beta of 0.91.

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

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.