Bank of New York Mellon Corp Has $3.77 Million Stock Position in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Bank of New York Mellon Corp grew its stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 15.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 196,522 shares of the company's stock after acquiring an additional 25,692 shares during the period. Bank of New York Mellon Corp owned 0.25% of Viridian Therapeutics worth $3,767,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Rice Hall James & Associates LLC bought a new position in Viridian Therapeutics during the fourth quarter worth about $1,023,000. Principal Financial Group Inc. grew its holdings in Viridian Therapeutics by 3.3% during the fourth quarter. Principal Financial Group Inc. now owns 178,444 shares of the company's stock worth $3,421,000 after purchasing an additional 5,634 shares during the period. Rhumbline Advisers grew its holdings in Viridian Therapeutics by 13.1% during the fourth quarter. Rhumbline Advisers now owns 99,938 shares of the company's stock worth $1,916,000 after purchasing an additional 11,594 shares during the period. R Squared Ltd bought a new position in Viridian Therapeutics during the fourth quarter worth about $26,000. Finally, Moody Aldrich Partners LLC bought a new position in Viridian Therapeutics during the fourth quarter worth about $1,125,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on VRDN shares. Needham & Company LLC reiterated a "buy" rating and set a $38.00 price target on shares of Viridian Therapeutics in a report on Tuesday, January 7th. Wells Fargo & Company restated an "equal weight" rating and set a $27.00 price objective (down from $37.00) on shares of Viridian Therapeutics in a research report on Thursday, December 19th. TD Cowen started coverage on shares of Viridian Therapeutics in a research report on Monday, November 25th. They set a "buy" rating for the company. Royal Bank of Canada raised their price objective on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 17th. Finally, HC Wainwright restated a "buy" rating and set a $34.00 price objective on shares of Viridian Therapeutics in a research report on Monday, December 16th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $35.70.

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Viridian Therapeutics Price Performance

Shares of NASDAQ VRDN traded down $0.06 during midday trading on Friday, reaching $15.26. The company's stock had a trading volume of 1,790,382 shares, compared to its average volume of 1,156,710. The company has a debt-to-equity ratio of 0.04, a quick ratio of 18.55 and a current ratio of 18.55. Viridian Therapeutics, Inc. has a fifty-two week low of $11.40 and a fifty-two week high of $27.20. The business's 50 day moving average price is $17.02 and its two-hundred day moving average price is $19.68. The company has a market cap of $1.24 billion, a P/E ratio of -3.54 and a beta of 1.05.

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

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.