Point72 Asset Management L.P. Purchases Shares of 34,627 Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Point72 Asset Management L.P. bought a new position in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 34,627 shares of the company's stock, valued at approximately $788,000.

Other large investors have also recently modified their holdings of the company. Great Point Partners LLC increased its position in Viridian Therapeutics by 50.0% during the 3rd quarter. Great Point Partners LLC now owns 750,000 shares of the company's stock worth $17,062,000 after purchasing an additional 250,000 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in Viridian Therapeutics by 62.9% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 178,855 shares of the company's stock worth $2,327,000 after buying an additional 69,035 shares during the period. Rhumbline Advisers grew its position in shares of Viridian Therapeutics by 34.5% in the 2nd quarter. Rhumbline Advisers now owns 90,826 shares of the company's stock valued at $1,182,000 after buying an additional 23,305 shares during the last quarter. Candriam S.C.A. increased its stake in shares of Viridian Therapeutics by 167.8% in 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. Finally, Novo Holdings A S raised its position in shares of Viridian Therapeutics by 19.3% during the third quarter. Novo Holdings A S now owns 2,385,000 shares of the company's stock worth $54,259,000 after acquiring an additional 385,000 shares during the last quarter.

Insider Buying and Selling

In other Viridian Therapeutics news, CEO Stephen F. Mahoney bought 21,400 shares of Viridian Therapeutics stock in a transaction that occurred on Friday, September 27th. The stock was acquired at an average cost 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 in the company, valued at $499,262. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Fairmount Funds Management Llc acquired 1,600,000 shares of the firm's stock in a transaction that occurred on Friday, September 13th. The stock was bought at an average price of $18.75 per share, for a total transaction of $30,000,000.00. Following the completion of the transaction, the director now owns 3,445,813 shares of the company's stock, valued at $64,608,993.75. The trade was a 86.68 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 1,626,400 shares of company stock valued at $30,616,312. Company insiders own 0.65% of the company's stock.

Analyst Upgrades and Downgrades

VRDN has been the topic of a number of recent analyst reports. Needham & Company LLC restated a "buy" rating and issued a $38.00 price target on shares of Viridian Therapeutics in a research report on Monday, November 25th. TD Cowen initiated coverage on Viridian Therapeutics in a report on Monday, November 25th. They set a "buy" rating on the stock. BTIG Research lifted their price target on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. The Goldman Sachs Group boosted their price objective on Viridian Therapeutics from $25.00 to $31.00 and gave the company a "buy" rating in a report on Thursday, September 12th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $44.00 price objective on shares of Viridian Therapeutics in a report on Thursday, December 5th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $36.33.

Viridian Therapeutics Stock Performance

VRDN traded down $0.99 during trading on Thursday, hitting $17.99. 1,304,505 shares of the company traded hands, compared to its average volume of 1,112,716. The firm has a market cap of $1.43 billion, a P/E ratio of -4.17 and a beta of 1.04. The company has a quick ratio of 18.55, a current ratio of 18.55 and a debt-to-equity ratio of 0.04. Viridian Therapeutics, Inc. has a one year low of $11.40 and a one year high of $27.20. The stock's fifty day moving average is $22.16 and its 200 day moving average is $17.80.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The firm had revenue of $0.09 million during the quarter, compared to the consensus estimate of $0.08 million. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. As a group, equities analysts predict that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

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.