JPMorgan Chase & Co. Sells 96,017 Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN)

JPMorgan Chase & Co. cut its holdings in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 24.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 304,334 shares of the company's stock after selling 96,017 shares during the period. JPMorgan Chase & Co. owned about 0.38% of Viridian Therapeutics worth $5,834,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. R Squared Ltd acquired a new stake in Viridian Therapeutics during the 4th quarter worth approximately $26,000. AlphaQuest LLC boosted its position in Viridian Therapeutics by 119.0% during the 4th quarter. AlphaQuest LLC now owns 2,795 shares of the company's stock worth $54,000 after buying an additional 1,519 shares during the period. Arizona State Retirement System lifted its position in shares of Viridian Therapeutics by 19.5% in the 4th quarter. Arizona State Retirement System now owns 16,596 shares of the company's stock worth $318,000 after purchasing an additional 2,708 shares during the period. Corebridge Financial Inc. lifted its position in shares of Viridian Therapeutics by 8.6% in the 4th quarter. Corebridge Financial Inc. now owns 36,336 shares of the company's stock worth $697,000 after purchasing an additional 2,878 shares during the period. Finally, Teacher Retirement System of Texas lifted its position in shares of Viridian Therapeutics by 21.6% in the 4th quarter. Teacher Retirement System of Texas now owns 17,015 shares of the company's stock worth $326,000 after purchasing an additional 3,028 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on VRDN. HC Wainwright restated a "buy" rating and issued a $34.00 price target on shares of Viridian Therapeutics in a research report on Wednesday. Needham & Company LLC restated a "buy" rating and issued a $38.00 price target on shares of Viridian Therapeutics in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Viridian Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $35.70.

Viridian Therapeutics Stock Up 4.8 %

Shares of VRDN traded up $0.66 during trading hours on Wednesday, hitting $14.42. The stock had a trading volume of 96,674 shares, compared to its average volume of 1,199,073. 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 firm has a 50 day simple moving average of $14.40 and a 200-day simple moving average of $18.44. The firm has a market capitalization of $1.18 billion, a P/E ratio of -3.35 and a beta of 0.81. Viridian Therapeutics, Inc. has a 1-year low of $9.90 and a 1-year high of $27.20.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.81) EPS for the quarter, beating the consensus estimate of ($1.05) by $0.24. The company had revenue of $0.07 million during the quarter, compared to the consensus estimate of $0.05 million. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. Sell-side analysts predict 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.