Fmr LLC Has $254.42 Million Stock Holdings in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

FMR LLC lifted its position in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 16.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,183,478 shares of the company's stock after acquiring an additional 1,610,130 shares during the quarter. FMR LLC owned approximately 17.50% of Viridian Therapeutics worth $254,424,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Novo Holdings A S raised its position in Viridian Therapeutics by 81.8% during the second quarter. Novo Holdings A S now owns 2,000,000 shares of the company's stock valued at $26,020,000 after buying an additional 900,000 shares during the period. Maverick Capital Ltd. increased its holdings in shares of Viridian Therapeutics by 22.9% in the 2nd quarter. Maverick Capital Ltd. now owns 3,307,945 shares of the company's stock valued at $43,036,000 after purchasing an additional 615,531 shares during the period. Candriam S.C.A. lifted its position 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 worth $9,754,000 after purchasing an additional 469,804 shares in the last quarter. Vanguard Group Inc. boosted its holdings 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 worth $56,632,000 after purchasing an additional 233,331 shares during the period. Finally, Millennium Management LLC grew its position in 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.

Analysts Set New Price Targets

A number of research firms have issued reports on VRDN. BTIG Research increased their target price on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. TD Cowen began coverage on Viridian Therapeutics in a research report on Monday, November 25th. They set a "buy" rating for the company. Royal Bank of Canada restated an "outperform" rating and issued a $44.00 target price on shares of Viridian Therapeutics in a research note on Thursday, September 19th. The Goldman Sachs Group raised their price target on Viridian Therapeutics from $25.00 to $31.00 and gave the stock a "buy" rating in a research note on Thursday, September 12th. Finally, HC Wainwright boosted their price target on Viridian Therapeutics from $27.00 to $34.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $36.33.

Viridian Therapeutics Stock Performance

Shares of VRDN stock traded down $0.15 during trading on Monday, reaching $21.40. The company had a trading volume of 392,231 shares, compared to its average volume of 1,112,386. The firm's 50 day simple moving average is $22.72 and its two-hundred day simple moving average is $17.45. Viridian Therapeutics, Inc. has a one year low of $11.40 and a one year high of $27.20. The company has a debt-to-equity ratio of 0.04, a current ratio of 18.55 and a quick ratio of 18.55. The company has a market capitalization of $1.70 billion, a PE ratio of -4.92 and a beta of 1.10.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing analysts' consensus estimates 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%. Sell-side analysts forecast that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Stephen F. Mahoney bought 21,400 shares of the firm's stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average cost of $23.33 per share, with a total value 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 cost of $18.75 per share, with a total value of $30,000,000.00. Following the acquisition, the director now owns 3,445,813 shares in the company, valued at approximately $64,608,993.75. This represents a 86.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 1,626,400 shares of company stock worth $30,616,312 in the last quarter. 0.65% of the stock is currently owned by company insiders.

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.