Viridian Therapeutics, Inc. $VRDN is Propel Bio Management LLC’s 4th Largest Position

Propel Bio Management LLC increased its holdings in Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 213.9% in the 4th quarter, HoldingsChannel reports. The fund owned 282,531 shares of the company’s stock after purchasing an additional 192,531 shares during the quarter. Viridian Therapeutics makes up approximately 7.5% of Propel Bio Management LLC’s holdings, making the stock its 4th biggest holding. Propel Bio Management LLC’s holdings in Viridian Therapeutics were worth $8,792,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new position in Viridian Therapeutics in the third quarter worth approximately $35,000. ANTIPODES PARTNERS Ltd acquired a new position in Viridian Therapeutics during the fourth quarter worth $36,000. Bessemer Group Inc. lifted its stake in Viridian Therapeutics by 947.7% during the third quarter. Bessemer Group Inc. now owns 2,085 shares of the company’s stock worth $45,000 after purchasing an additional 1,886 shares in the last quarter. Larson Financial Group LLC acquired a new position in Viridian Therapeutics during the third quarter worth $52,000. Finally, US Bancorp DE lifted its stake in Viridian Therapeutics by 23.2% during the third quarter. US Bancorp DE now owns 2,457 shares of the company’s stock worth $53,000 after purchasing an additional 463 shares in the last quarter.

Insider Activity

In other news, Director Fairmount Funds Management Llc purchased 1,176,470 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were acquired at an average cost of $17.00 per share, for a total transaction of $19,999,990.00. Following the completion of the purchase, the director directly owned 5,090,928 shares in the company, valued at $86,545,776. The trade was a 30.05% increase in their position. 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 company insiders.

Viridian Therapeutics Price Performance

VRDN stock opened at $15.78 on Friday. The business has a 50 day moving average price of $16.61 and a 200 day moving average price of $25.75. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of -4.75 and a beta of 0.90. Viridian Therapeutics, Inc. has a fifty-two week low of $13.18 and a fifty-two week high of $34.29. The company has a quick ratio of 15.15, a current ratio of 15.15 and a debt-to-equity ratio of 0.10.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.90) earnings per share 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 the consensus estimate of $0.04 million. During the same period in the prior year, the company earned ($0.87) earnings per share. The company’s revenue was up 95.8% compared to the same quarter last year. Equities research analysts anticipate that Viridian Therapeutics, Inc. will post -3.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on VRDN. Royal Bank Of Canada upped their price target on Viridian Therapeutics from $30.00 to $34.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Wedbush decreased their price target on Viridian Therapeutics from $37.00 to $31.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Viridian Therapeutics in a research note on Monday, April 20th. Truist Financial decreased their price target on Viridian Therapeutics from $36.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. Finally, Wall Street Zen upgraded Viridian Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.14.

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.