Victory Capital Management Inc. Acquires New Shares in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Victory Capital Management Inc. acquired a new stake in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 410,440 shares of the company's stock, valued at approximately $7,868,000. Victory Capital Management Inc. owned approximately 0.52% of Viridian Therapeutics at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in VRDN. Principal Financial Group Inc. grew its holdings in Viridian Therapeutics by 1,603.4% during the 3rd quarter. Principal Financial Group Inc. now owns 172,810 shares of the company's stock valued at $3,931,000 after buying an additional 162,665 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Viridian Therapeutics in the third quarter valued at $208,000. Intech Investment Management LLC purchased a new position in shares of Viridian Therapeutics in the third quarter valued at $422,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Viridian Therapeutics by 6.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 516,213 shares of the company's stock valued at $11,744,000 after purchasing an additional 32,292 shares in the last quarter. Finally, Algert Global LLC grew its holdings in shares of Viridian Therapeutics by 107.1% in the third quarter. Algert Global LLC now owns 114,913 shares of the company's stock valued at $2,614,000 after purchasing an additional 59,420 shares in the last quarter.

Analysts Set New Price Targets

VRDN has been the subject of a number of recent research reports. TD Cowen initiated coverage on shares of Viridian Therapeutics in a report on Monday, November 25th. They issued a "buy" rating for the company. HC Wainwright reissued a "buy" rating and issued a $34.00 target price on shares of Viridian Therapeutics in a report on Monday, December 16th. Royal Bank of Canada raised their target price on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the company an "outperform" rating in a report on Tuesday, December 17th. Needham & Company LLC reissued a "buy" rating and issued a $38.00 target price on shares of Viridian Therapeutics in a report on Tuesday, January 7th. Finally, Wells Fargo & Company reissued an "equal weight" rating and issued a $27.00 target price (down from $37.00) on shares of Viridian Therapeutics in a report on Thursday, December 19th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $35.70.

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Viridian Therapeutics Trading Down 5.6 %

Shares of NASDAQ:VRDN traded down $0.90 on Tuesday, hitting $15.14. 555,353 shares of the company's stock were exchanged, compared to its average volume of 1,161,381. Viridian Therapeutics, Inc. has a 12 month low of $11.40 and a 12 month high of $27.20. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -3.51 and a beta of 1.05. The business's 50 day simple moving average is $17.35 and its two-hundred day simple moving average is $19.74. The company has a debt-to-equity ratio of 0.04, a current ratio of 18.55 and a quick ratio of 18.55.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share for the quarter, topping the consensus estimate of ($1.05) by $0.24. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. The business had revenue of $0.07 million during the quarter, compared to the consensus estimate of $0.05 million. Analysts anticipate that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

About Viridian Therapeutics

Viridian Therapeutics, Inc, a biotechnology company, discover and develops treatments for serious and rare diseases. The company's product pipeline includes VRDN-001, a monoclonal antibody targeting insulin-like growth factor-1 receptor that is in Phase 3 clinical trial for the treatment of thyroid eye disease (TED); and VRDN-003, a next generation IGF-1R humanized monoclonal antibodies targeting IGF-1R and incorporating half-life extension technology for the treatment of TED.