Russell Investments Group Ltd. Reduces Stock Position in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Russell Investments Group Ltd. cut its holdings in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 14.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 379,596 shares of the company's stock after selling 62,738 shares during the quarter. Russell Investments Group Ltd. owned 0.48% of Viridian Therapeutics worth $7,277,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Lord Abbett & CO. LLC bought a new position in Viridian Therapeutics in the third quarter worth approximately $8,917,000. JPMorgan Chase & Co. grew its position in Viridian Therapeutics by 218.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 400,351 shares of the company's stock valued at $9,108,000 after purchasing an additional 274,641 shares during the period. Barclays PLC increased its stake in Viridian Therapeutics by 113.1% during the 3rd quarter. Barclays PLC now owns 125,397 shares of the company's stock valued at $2,851,000 after purchasing an additional 66,550 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Viridian Therapeutics by 1,603.4% during the third quarter. Principal Financial Group Inc. now owns 172,810 shares of the company's stock worth $3,931,000 after buying an additional 162,665 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Viridian Therapeutics in the third quarter valued at $660,000.

Viridian Therapeutics Stock Performance

Viridian Therapeutics stock traded up $0.48 during trading on Friday, hitting $13.13. The stock had a trading volume of 803,097 shares, compared to its average volume of 1,202,434. The company has a quick ratio of 18.55, a current ratio of 18.55 and a debt-to-equity ratio of 0.04. The stock's 50 day moving average is $14.65 and its two-hundred day moving average is $18.69. Viridian Therapeutics, Inc. has a 1 year low of $9.90 and a 1 year high of $27.20. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of -3.05 and a beta of 0.81.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.81) EPS for the quarter, beating analysts' consensus estimates of ($1.05) by $0.24. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. The firm had revenue of $0.07 million for the quarter, compared to analysts' expectations of $0.05 million. As a group, analysts predict that Viridian Therapeutics, Inc. will post -4.03 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on VRDN shares. Needham & Company LLC restated a "buy" rating and issued a $38.00 target price on shares of Viridian Therapeutics in a report on Tuesday, January 7th. Wells Fargo & Company reiterated an "equal weight" rating and set a $27.00 price target (down previously from $37.00) on shares of Viridian Therapeutics in a report on Thursday, December 19th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Viridian Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.70.

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.