Raymond James Financial Inc. Makes New Investment in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Raymond James Financial Inc. acquired a new stake in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 313,787 shares of the company's stock, valued at approximately $6,015,000. Raymond James Financial Inc. owned 0.40% of Viridian Therapeutics at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of Viridian Therapeutics in the fourth quarter worth about $26,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Viridian Therapeutics in the 3rd quarter worth approximately $149,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Viridian Therapeutics in the 3rd quarter worth approximately $208,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Viridian Therapeutics by 17.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,997 shares of the company's stock valued at $318,000 after buying an additional 2,036 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of Viridian Therapeutics by 19.5% during the fourth quarter. Arizona State Retirement System now owns 16,596 shares of the company's stock valued at $318,000 after buying an additional 2,708 shares during the last quarter.

Viridian Therapeutics Stock Down 1.6 %

Shares of VRDN traded down $0.23 during midday trading on Friday, reaching $14.44. 594,046 shares of the stock were exchanged, compared to its average volume of 1,171,547. The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04. The company's 50 day moving average is $16.82 and its two-hundred day moving average is $19.70. The company has a market capitalization of $1.18 billion, a P/E ratio of -3.35 and a beta of 1.05. Viridian Therapeutics, Inc. has a 52 week low of $11.40 and a 52 week high of $27.20.

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Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share for the quarter, topping the consensus estimate of ($1.05) by $0.24. The firm had revenue of $0.07 million during the quarter, compared to analysts' expectations of $0.05 million. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. On average, sell-side analysts anticipate that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.