Rice Hall James & Associates LLC Raises Position in Viridian Therapeutics, Inc. $VRDN

Rice Hall James & Associates LLC raised its holdings in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 65.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 851,663 shares of the company’s stock after buying an additional 336,040 shares during the quarter. Rice Hall James & Associates LLC’s holdings in Viridian Therapeutics were worth $18,379,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Invesco Ltd. grew its holdings in shares of Viridian Therapeutics by 44.3% during the first quarter. Invesco Ltd. now owns 47,771 shares of the company’s stock worth $644,000 after purchasing an additional 14,672 shares in the last quarter. American Century Companies Inc. raised its position in shares of Viridian Therapeutics by 8.2% during the 1st quarter. American Century Companies Inc. now owns 122,892 shares of the company’s stock valued at $1,657,000 after buying an additional 9,330 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in shares of Viridian Therapeutics by 1.4% during the 1st quarter. Raymond James Financial Inc. now owns 318,240 shares of the company’s stock worth $4,290,000 after acquiring an additional 4,453 shares during the last quarter. Northern Trust Corp increased its stake in Viridian Therapeutics by 1.2% in the first quarter. Northern Trust Corp now owns 702,517 shares of the company’s stock valued at $9,470,000 after acquiring an additional 8,375 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Viridian Therapeutics by 11.0% during the first quarter. Wellington Management Group LLP now owns 249,170 shares of the company’s stock valued at $3,359,000 after purchasing an additional 24,686 shares in the last quarter.

Viridian Therapeutics Price Performance

Shares of Viridian Therapeutics stock opened at $31.88 on Friday. The company’s fifty day simple moving average is $28.91 and its two-hundred day simple moving average is $21.81. Viridian Therapeutics, Inc. has a 12-month low of $9.90 and a 12-month high of $34.04. The firm has a market cap of $3.04 billion, a PE ratio of -10.56 and a beta of 0.87. The company has a quick ratio of 11.28, a current ratio of 11.28 and a debt-to-equity ratio of 0.07.

Viridian Therapeutics (NASDAQ:VRDN) last posted its earnings results on Wednesday, November 5th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.48. Viridian Therapeutics had a negative net margin of 426.58% and a negative return on equity of 78.50%. The company had revenue of $70.57 million during the quarter, compared to analyst estimates of $16.21 million. The firm’s quarterly revenue was up 81993.0% on a year-over-year basis. As a group, equities analysts expect that Viridian Therapeutics, Inc. will post -4.03 EPS for the current year.

Insider Activity

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc bought 454,545 shares of the firm’s stock in a transaction that occurred on Thursday, October 23rd. The stock was bought at an average price of $22.00 per share, for a total transaction of $9,999,990.00. Following the completion of the acquisition, the director directly owned 3,914,458 shares in the company, valued at $86,118,076. The trade was a 13.14% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.58% of the company’s stock.

Analyst Upgrades and Downgrades

VRDN has been the topic of several recent research reports. Needham & Company LLC increased their price objective on Viridian Therapeutics from $34.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday. William Blair initiated coverage on shares of Viridian Therapeutics in a report on Wednesday, December 3rd. They issued an “outperform” rating for the company. Royal Bank Of Canada lifted their target price on shares of Viridian Therapeutics from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Wall Street Zen upgraded shares of Viridian Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Oppenheimer boosted their target price on Viridian Therapeutics from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Eleven research 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 presently has an average rating of “Moderate Buy” and a consensus target price of $41.75.

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.