Loomis Sayles & Co. L P Purchases Shares of 1,400,381 Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Loomis Sayles & Co. L P acquired a new stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,400,381 shares of the company's stock, valued at approximately $26,845,000. Loomis Sayles & Co. L P owned 1.77% of Viridian Therapeutics as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Lord Abbett & CO. LLC purchased a new position in Viridian Therapeutics during the 3rd quarter valued at about $8,917,000. JPMorgan Chase & Co. lifted its stake in shares of Viridian Therapeutics by 218.5% during the third quarter. JPMorgan Chase & Co. now owns 400,351 shares of the company's stock valued at $9,108,000 after buying an additional 274,641 shares during the period. Barclays PLC boosted its position in Viridian Therapeutics by 113.1% during the third quarter. Barclays PLC now owns 125,397 shares of the company's stock worth $2,851,000 after acquiring an additional 66,550 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Viridian Therapeutics in the 3rd quarter worth approximately $788,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Viridian Therapeutics during the third quarter worth $660,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on VRDN. Royal Bank of Canada increased their price objective on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the stock an "outperform" rating in a report on Tuesday, December 17th. Wells Fargo & Company reiterated an "equal weight" rating and issued a $27.00 price target (down previously from $37.00) on shares of Viridian Therapeutics in a report on Thursday, December 19th. Needham & Company LLC reaffirmed a "buy" rating and issued a $38.00 target price on shares of Viridian Therapeutics in a research report on Tuesday, January 7th. Finally, HC Wainwright reiterated a "buy" rating and issued a $34.00 target price on shares of Viridian Therapeutics in a report on Monday, December 16th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $35.70.

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Viridian Therapeutics Price Performance

Shares of Viridian Therapeutics stock traded down $0.15 on Tuesday, hitting $13.33. The company had a trading volume of 266,641 shares, compared to its average volume of 1,167,899. Viridian Therapeutics, Inc. has a 52 week low of $11.40 and a 52 week high of $27.20. The company has a market cap of $1.09 billion, a PE ratio of -3.07 and a beta of 1.05. The business has a 50-day simple moving average of $16.66 and a 200-day simple moving average of $19.66. 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 issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share for the quarter, beating analysts' consensus estimates of ($1.05) by $0.24. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. The company had revenue of $0.07 million during the quarter, compared to the consensus estimate of $0.05 million. Research analysts expect that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Viridian Therapeutics Profile

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.