SG Americas Securities LLC Sells 29,615 Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN)

SG Americas Securities LLC lowered its stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 64.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,441 shares of the company's stock after selling 29,615 shares during the period. SG Americas Securities LLC's holdings in Viridian Therapeutics were worth $374,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VRDN. Novo Holdings A S increased its holdings in Viridian Therapeutics by 81.8% in the 2nd quarter. Novo Holdings A S now owns 2,000,000 shares of the company's stock worth $26,020,000 after acquiring an additional 900,000 shares during the last quarter. Maverick Capital Ltd. increased its stake in shares of Viridian Therapeutics by 22.9% during the second quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company's stock valued at $43,036,000 after buying an additional 615,531 shares during the period. Candriam S.C.A. increased 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 valued at $9,754,000 after buying an additional 469,804 shares during the period. Vanguard Group Inc. boosted its position in shares of Viridian Therapeutics by 7.8% during the first quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company's stock valued at $56,632,000 after purchasing an additional 233,331 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Viridian Therapeutics by 1,014.7% during the second quarter. Millennium Management LLC now owns 228,182 shares of the company's stock valued at $2,969,000 after purchasing an additional 207,711 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts recently commented on VRDN shares. Wedbush reiterated an "outperform" rating and set a $42.00 price objective on shares of Viridian Therapeutics in a research report on Monday, July 29th. BTIG Research lifted their price target on Viridian Therapeutics from $56.00 to $61.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Oppenheimer reiterated an "outperform" rating and set a $28.00 price objective (down previously from $31.00) on shares of Viridian Therapeutics in a research note on Monday, August 12th. Needham & Company LLC boosted their price objective on Viridian Therapeutics from $30.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, September 11th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $44.00 price objective on shares of Viridian Therapeutics in a report on Thursday, September 19th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $35.80.

Viridian Therapeutics Stock Performance

VRDN traded up $0.72 during trading on Friday, hitting $24.98. The stock had a trading volume of 929,855 shares, compared to its average volume of 1,125,159. The company has a 50 day simple moving average of $19.33 and a 200-day simple moving average of $15.85. Viridian Therapeutics, Inc. has a 12 month low of $10.93 and a 12 month high of $25.39. The company has a current ratio of 15.82, a quick ratio of 15.82 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.59 billion, a PE ratio of -5.55 and a beta of 1.08.

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

Insider Buying and Selling at Viridian Therapeutics

In other news, Director Fairmount Funds Management Llc purchased 1,600,000 shares of the business's stock in a transaction on Friday, September 13th. The stock was purchased at an average price of $18.75 per share, for a total transaction of $30,000,000.00. Following the completion of the purchase, the director now directly owns 3,445,813 shares in the company, valued at $64,608,993.75. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Viridian Therapeutics news, Director Fairmount Funds Management Llc purchased 1,600,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were acquired at an average cost of $18.75 per share, with a total value of $30,000,000.00. Following the completion of the transaction, the director now owns 3,445,813 shares in the company, valued at $64,608,993.75. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen F. Mahoney bought 21,400 shares of the firm's stock in a transaction on Friday, September 27th. The stock was purchased at an average cost of $23.33 per share, for a total transaction of $499,262.00. Following the completion of the acquisition, the chief executive officer now owns 21,400 shares in the company, valued at approximately $499,262. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 1,626,400 shares of company stock valued at $30,616,312. Corporate insiders own 0.65% of the company's stock.

Viridian Therapeutics Company 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.