Viridian Therapeutics, Inc. (NASDAQ:VRDN) Position Boosted by Novo Holdings A S

Novo Holdings A S boosted its holdings in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 19.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,385,000 shares of the company's stock after buying an additional 385,000 shares during the quarter. Viridian Therapeutics makes up approximately 2.7% of Novo Holdings A S's investment portfolio, making the stock its 10th largest position. Novo Holdings A S owned 3.73% of Viridian Therapeutics worth $54,259,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of VRDN. Quest Partners LLC lifted 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 acquiring an additional 4,692 shares during the period. Ameritas Investment Partners Inc. increased its holdings in Viridian Therapeutics by 19.2% during the first quarter. Ameritas Investment Partners Inc. now owns 4,961 shares of the company's stock worth $87,000 after buying an additional 799 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Viridian Therapeutics by 24.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company's stock worth $156,000 after acquiring an additional 2,359 shares during the period. AlphaCentric Advisors LLC boosted its stake in Viridian Therapeutics by 108.3% in the second 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 last quarter. Finally, Arizona State Retirement System grew its position in shares of Viridian Therapeutics by 14.7% during the 2nd quarter. Arizona State Retirement System now owns 13,178 shares of the company's stock valued at $171,000 after acquiring an additional 1,688 shares during the period.

Viridian Therapeutics Price Performance

Shares of VRDN stock traded down $0.31 on Friday, reaching $23.05. The company's stock had a trading volume of 526,084 shares, compared to its average volume of 1,115,872. The company has a market capitalization of $1.47 billion, a P/E ratio of -5.12 and a beta of 1.08. Viridian Therapeutics, Inc. has a 12-month low of $11.01 and a 12-month high of $25.39. The stock's 50 day simple moving average is $20.22 and its 200-day simple moving average is $16.11. The company has a quick ratio of 15.82, a current ratio of 15.82 and a debt-to-equity ratio of 0.05.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last released its quarterly earnings results 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 net margin of 79,185.77% and a negative return on equity of 83.18%. The business had revenue of $0.07 million during the quarter, compared to analysts' expectations of $0.09 million. As a group, equities analysts predict that Viridian Therapeutics, Inc. will post -3.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Thomas W. Beetham acquired 5,000 shares of the stock in a transaction dated Friday, September 27th. The shares were purchased at an average price of $23.41 per share, for a total transaction of $117,050.00. Following the transaction, 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 acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, COO Thomas W. Beetham acquired 5,000 shares of the firm's stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average cost of $23.41 per share, with a total value of $117,050.00. Following the acquisition, the chief operating officer now owns 6,000 shares in the company, valued at approximately $140,460. This represents a 500.00 % 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, CEO Stephen F. Mahoney purchased 21,400 shares of Viridian Therapeutics stock in a transaction on Friday, September 27th. The shares were acquired at an average price of $23.33 per share, for a total transaction of $499,262.00. Following the completion of the transaction, the chief executive officer now directly owns 21,400 shares of the company's stock, valued at approximately $499,262. The disclosure for this purchase can be found here. Insiders purchased a total of 1,626,400 shares of company stock valued at $30,616,312 in the last quarter. Corporate insiders own 0.65% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on VRDN shares. BTIG Research lifted their price target on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. HC Wainwright reissued a "buy" rating and issued a $27.00 price target on shares of Viridian Therapeutics in a research report on Tuesday, September 10th. Wedbush restated an "outperform" rating and set a $42.00 price target on shares of Viridian Therapeutics in a research note on Monday, July 29th. Needham & Company LLC lifted 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. Finally, The Goldman Sachs Group boosted their target price on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the company a "buy" rating in a report on Thursday, September 12th. Two equities research 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.com, Viridian Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $35.80.

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.