Geode Capital Management LLC Grows Stock Holdings in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Geode Capital Management LLC grew its stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 5.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,493,311 shares of the company's stock after acquiring an additional 81,951 shares during the period. Geode Capital Management LLC owned 1.89% of Viridian Therapeutics worth $33,979,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in shares of Viridian Therapeutics by 37.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 208,676 shares of the company's stock valued at $2,715,000 after acquiring an additional 56,814 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Viridian Therapeutics by 24.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company's stock valued at $156,000 after acquiring an additional 2,359 shares in the last quarter. Rhumbline Advisers boosted its stake in Viridian Therapeutics by 34.5% in the second quarter. Rhumbline Advisers now owns 90,826 shares of the company's stock valued at $1,182,000 after acquiring an additional 23,305 shares in the last quarter. Arizona State Retirement System increased its position 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 purchasing an additional 1,688 shares in the last quarter. Finally, Candriam S.C.A. grew its stake in shares of Viridian Therapeutics by 167.8% during the second quarter. Candriam S.C.A. now owns 749,804 shares of the company's stock worth $9,754,000 after acquiring an additional 469,804 shares during the last quarter.

Insider Buying and Selling

In related news, CEO Stephen F. Mahoney purchased 21,400 shares of the company's stock in a transaction on Friday, September 27th. The stock was bought at an average price of $23.33 per share, with a total value of $499,262.00. Following the completion of the transaction, the chief executive officer now owns 21,400 shares of the company's stock, valued at approximately $499,262. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Thomas W. Beetham bought 5,000 shares of Viridian Therapeutics stock in a transaction on Friday, September 27th. The stock was purchased at an average price of $23.41 per share, for a total transaction of $117,050.00. Following the completion of the acquisition, the chief operating officer now owns 6,000 shares in the company, valued at $140,460. This represents a 500.00 % increase in their position. The disclosure for this purchase can be found here. 0.65% of the stock is currently owned by insiders.

Viridian Therapeutics Stock Performance

NASDAQ VRDN traded up $0.52 on Thursday, hitting $19.83. 674,510 shares of the company's stock were exchanged, compared to its average volume of 1,167,980. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of -4.60 and a beta of 1.04. The firm's 50-day moving average price is $21.36 and its two-hundred day moving average price is $18.31. Viridian Therapeutics, Inc. has a fifty-two week low of $11.40 and a fifty-two week high of $27.20. 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 posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing analysts' consensus estimates of ($1.11) by ($0.04). The company had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.08 million. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. On average, research analysts expect that Viridian Therapeutics, Inc. will post -4.03 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. BTIG Research upped their price objective on Viridian Therapeutics from $56.00 to $61.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. The Goldman Sachs Group raised their target price on Viridian Therapeutics from $25.00 to $31.00 and gave the company a "buy" rating in a research report on Thursday, September 12th. HC Wainwright reaffirmed a "buy" rating and issued a $34.00 price target on shares of Viridian Therapeutics in a report on Monday, December 16th. TD Cowen started coverage on Viridian Therapeutics in a report on Monday, November 25th. They issued a "buy" rating on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $38.00 target price on shares of Viridian Therapeutics in a research note on Monday, November 25th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $35.70.

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.