Two Sigma Advisers LP Cuts Stock Holdings in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Two Sigma Advisers LP reduced its holdings in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 15.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 444,800 shares of the company's stock after selling 81,900 shares during the period. Two Sigma Advisers LP owned about 0.56% of Viridian Therapeutics worth $10,119,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Great Point Partners LLC increased its stake in shares of Viridian Therapeutics by 50.0% in the third quarter. Great Point Partners LLC now owns 750,000 shares of the company's stock worth $17,062,000 after purchasing an additional 250,000 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in shares of Viridian Therapeutics by 62.9% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 178,855 shares of the company's stock worth $2,327,000 after purchasing an additional 69,035 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Viridian Therapeutics by 34.5% in the second quarter. Rhumbline Advisers now owns 90,826 shares of the company's stock worth $1,182,000 after purchasing an additional 23,305 shares in the last quarter. Candriam S.C.A. increased its stake 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. Finally, Novo Holdings A S increased its stake in shares of Viridian Therapeutics by 19.3% in the third quarter. Novo Holdings A S now owns 2,385,000 shares of the company's stock worth $54,259,000 after purchasing an additional 385,000 shares in the last quarter.

Viridian Therapeutics Trading Down 0.9 %

Shares of Viridian Therapeutics stock traded down $0.17 during trading on Tuesday, hitting $19.36. The stock had a trading volume of 1,048,301 shares, compared to its average volume of 1,112,565. The firm's fifty day simple moving average is $22.46 and its 200-day simple moving average is $17.74. The stock has a market cap of $1.53 billion, a PE ratio of -4.53 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 18.55 and a quick ratio of 18.55. Viridian Therapeutics, Inc. has a 12 month low of $11.40 and a 12 month high of $27.20.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing analysts' consensus estimates of ($1.11) by ($0.04). 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 $0.09 million for the quarter, compared to the consensus estimate of $0.08 million. As a group, sell-side analysts expect that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on VRDN shares. TD Cowen started coverage on shares of Viridian Therapeutics in a research note on Monday, November 25th. They issued a "buy" rating for the company. BTIG Research raised their target price on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. HC Wainwright raised their target price on shares of Viridian Therapeutics from $27.00 to $34.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $44.00 target price on shares of Viridian Therapeutics in a research note on Thursday, December 5th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $38.00 target price on shares of Viridian Therapeutics in a research note on Monday, November 25th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $36.33.

Insider Activity at Viridian Therapeutics

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc bought 1,600,000 shares of the business's stock in a transaction on Friday, September 13th. The shares were acquired at an average price of $18.75 per share, with a total value of $30,000,000.00. Following the transaction, the director now owns 3,445,813 shares of the company's stock, valued at approximately $64,608,993.75. This trade represents a 86.68 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Thomas W. Beetham bought 5,000 shares of the business's stock in a transaction on Friday, September 27th. The shares were acquired at an average cost of $23.41 per share, for a total transaction of $117,050.00. Following the transaction, the chief operating officer now directly owns 6,000 shares in the company, valued at approximately $140,460. This trade represents a 500.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 1,626,400 shares of company stock worth $30,616,312 in the last 90 days. 0.65% of the stock is owned by corporate insiders.

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.