Millennium Management LLC Has $2.97 Million Stock Position in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Millennium Management LLC lifted its position in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 1,014.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 228,182 shares of the company's stock after acquiring an additional 207,711 shares during the period. Millennium Management LLC owned approximately 0.36% of Viridian Therapeutics worth $2,969,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in VRDN. Maverick Capital Ltd. lifted its holdings in shares of Viridian Therapeutics by 22.9% during the 2nd quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company's stock worth $43,036,000 after acquiring an additional 615,531 shares during the period. Candriam S.C.A. lifted its holdings in shares of Viridian Therapeutics by 167.8% during the 2nd 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 period. Vanguard Group Inc. lifted its holdings in shares of Viridian Therapeutics by 7.8% during the 1st quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company's stock worth $56,632,000 after acquiring an additional 233,331 shares during the period. Kopp LeRoy C bought a new position in Viridian Therapeutics in the 1st quarter valued at approximately $3,601,000. Finally, Affinity Asset Advisors LLC bought a new position in Viridian Therapeutics in the 2nd quarter valued at approximately $1,952,000.

Viridian Therapeutics Trading Up 2.1 %

Shares of VRDN traded up $0.50 during trading hours on Tuesday, hitting $24.04. 847,839 shares of the stock were exchanged, compared to its average volume of 1,128,271. Viridian Therapeutics, Inc. has a fifty-two week low of $10.93 and a fifty-two week high of $24.75. The company has a debt-to-equity ratio of 0.05, a current ratio of 15.82 and a quick ratio of 15.82. The business has a 50-day moving average of $18.78 and a 200-day moving average of $15.69. The firm has a market capitalization of $1.53 billion, a P/E ratio of -5.34 and a beta of 1.08.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.15). Viridian Therapeutics had a negative return on equity of 83.18% and a negative net margin of 79,185.77%. The firm had revenue of $0.07 million for the quarter, compared to analyst estimates of $0.09 million. On average, research analysts expect that Viridian Therapeutics, Inc. will post -3.94 EPS for the current year.

Analysts Set New Price Targets

VRDN has been the subject of several research reports. Needham & Company LLC increased their price objective on shares of Viridian Therapeutics from $30.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, September 11th. Royal Bank of Canada reissued an "outperform" rating and issued a $44.00 price objective on shares of Viridian Therapeutics in a research note on Thursday, September 19th. HC Wainwright reissued a "buy" rating and issued a $27.00 price objective on shares of Viridian Therapeutics in a research note on Tuesday, September 10th. Oppenheimer reissued an "outperform" rating and issued a $28.00 price objective (down previously from $31.00) on shares of Viridian Therapeutics in a research note on Monday, August 12th. Finally, The Goldman Sachs Group increased their price objective on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the company a "buy" rating in a research note on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $35.80.

Insider Transactions at Viridian Therapeutics

In related news, Director Fairmount Funds Management Llc purchased 1,600,000 shares of Viridian Therapeutics stock in a transaction on Friday, September 13th. The stock was acquired at an average cost of $18.75 per share, for a total transaction of $30,000,000.00. Following the completion of the acquisition, the director now owns 3,445,813 shares of the company's stock, valued at $64,608,993.75. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Fairmount Funds Management Llc purchased 1,600,000 shares of Viridian Therapeutics stock in a transaction on Friday, September 13th. The stock was acquired at an average cost of $18.75 per share, for a total transaction of $30,000,000.00. Following the completion of the acquisition, the director now owns 3,445,813 shares of the company's stock, valued at $64,608,993.75. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Thomas W. Beetham purchased 5,000 shares of Viridian Therapeutics stock in a transaction on Friday, September 27th. The stock was bought at an average price of $23.41 per share, with a total value of $117,050.00. Following the completion of the acquisition, the chief operating officer now directly owns 6,000 shares of the company's stock, valued at approximately $140,460. This trade represents a 500.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 1,626,400 shares of company stock worth $30,616,312 over the last three months. 0.65% of the stock is owned by company insiders.

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.