Viridian Therapeutics (NASDAQ:VRDN) Director Fairmount Funds Management Llc Acquires 1,176,470 Shares of Stock

Viridian Therapeutics, Inc. (NASDAQ:VRDN) Director Fairmount Funds Management Llc acquired 1,176,470 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was acquired at an average price of $17.00 per share, with a total value of $19,999,990.00. Following the purchase, the director owned 5,090,928 shares in the company, valued at approximately $86,545,776. This represents a 30.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Viridian Therapeutics Trading Up 1.1%

Shares of VRDN stock opened at $17.04 on Thursday. Viridian Therapeutics, Inc. has a 12-month low of $12.07 and a 12-month high of $34.29. The company has a market capitalization of $1.76 billion, a P/E ratio of -5.13 and a beta of 0.82. The firm has a 50-day moving average price of $20.56 and a 200 day moving average price of $26.77. 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 announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.90) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.06) by $0.16. The firm had revenue of $0.14 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm posted ($0.87) EPS. Research analysts forecast that Viridian Therapeutics, Inc. will post -3.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VRDN has been the subject of several analyst reports. Wells Fargo & Company lowered their price target on shares of Viridian Therapeutics from $29.00 to $20.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Viridian Therapeutics in a research note on Monday, April 20th. Truist Financial reduced their price objective on shares of Viridian Therapeutics from $36.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. HC Wainwright reduced their price objective on shares of Viridian Therapeutics from $34.00 to $22.00 and set a “buy” rating on the stock in a research note on Tuesday, March 31st. Finally, Royal Bank Of Canada lifted their price target on shares of Viridian Therapeutics from $30.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.43.

Institutional Trading of Viridian Therapeutics

Institutional investors have recently made changes to their positions in the business. ANTIPODES PARTNERS Ltd bought a new stake in shares of Viridian Therapeutics in the fourth quarter worth $36,000. Aster Capital Management DIFC Ltd acquired a new position in Viridian Therapeutics during the third quarter worth $35,000. KBC Group NV acquired a new position in Viridian Therapeutics during the first quarter worth $34,000. Bessemer Group Inc. increased its holdings 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 buying an additional 1,886 shares during the last quarter. Finally, Larson Financial Group LLC acquired a new position in Viridian Therapeutics during the third quarter worth $52,000.

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.