Eagle Asset Management Inc. Reduces Position in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Eagle Asset Management Inc. lowered its position in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 16.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 313,130 shares of the company's stock after selling 60,332 shares during the period. Eagle Asset Management Inc. owned about 0.49% of Viridian Therapeutics worth $7,894,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Quest Partners LLC grew its holdings in Viridian Therapeutics by 344.0% during the second quarter. Quest Partners LLC now owns 6,056 shares of the company's stock worth $79,000 after purchasing an additional 4,692 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Viridian Therapeutics by 24.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company's stock worth $156,000 after buying an additional 2,359 shares during the last quarter. AlphaCentric Advisors LLC raised its holdings in Viridian Therapeutics by 108.3% in the 2nd quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company's stock valued at $163,000 after acquiring an additional 6,500 shares during the period. Arizona State Retirement System boosted its holdings in shares of Viridian Therapeutics by 14.7% during the second quarter. Arizona State Retirement System now owns 13,178 shares of the company's stock worth $171,000 after acquiring an additional 1,688 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Viridian Therapeutics during the third quarter worth approximately $208,000.

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 research report on Monday. They issued a "buy" rating for the company. BTIG Research boosted their price objective on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the company a "buy" rating in a report on Thursday, September 26th. HC Wainwright raised their target price on shares of Viridian Therapeutics from $27.00 to $34.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Oppenheimer reiterated an "outperform" rating and set a $28.00 target price (down from $31.00) on shares of Viridian Therapeutics in a research report on Monday, August 12th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $44.00 price target on shares of Viridian Therapeutics in a research report on Thursday, September 19th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $36.33.

Viridian Therapeutics Stock Up 3.8 %

Viridian Therapeutics stock traded up $0.77 during trading hours on Monday, hitting $20.97. The stock had a trading volume of 719,261 shares, compared to its average volume of 1,119,194. 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 $1.66 billion, a P/E ratio of -4.69 and a beta of 1.10. The stock's 50-day moving average price is $22.73 and its 200-day moving average price is $17.19. The company has a quick ratio of 18.55, a current ratio of 18.55 and a debt-to-equity ratio of 0.04.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The business had revenue of $0.09 million for the quarter, compared to analysts' expectations of $0.08 million. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. Equities research analysts anticipate that Viridian Therapeutics, Inc. will post -4.04 EPS for the current fiscal year.

Insider Activity

In other Viridian Therapeutics news, CEO Stephen F. Mahoney purchased 21,400 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average price of $23.33 per share, with a total value of $499,262.00. Following the acquisition, the chief executive officer now owns 21,400 shares in the company, valued at approximately $499,262. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Thomas W. Beetham acquired 5,000 shares of Viridian Therapeutics stock in a transaction on Friday, September 27th. The shares were bought at an average cost of $23.41 per share, for a total transaction of $117,050.00. Following the completion of the purchase, the chief operating officer now directly owns 6,000 shares of the company's stock, valued at $140,460. The trade was a 500.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 1,626,400 shares of company stock valued at $30,616,312 in the last 90 days. Company insiders own 0.65% of the company's stock.

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.