Great Point Partners LLC Has $17.06 Million Stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Great Point Partners LLC grew its position in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 50.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 750,000 shares of the company's stock after acquiring an additional 250,000 shares during the period. Viridian Therapeutics comprises 5.0% of Great Point Partners LLC's portfolio, making the stock its 5th largest position. Great Point Partners LLC owned 1.17% of Viridian Therapeutics worth $17,062,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Quest Partners LLC lifted its holdings in Viridian Therapeutics by 344.0% in the 2nd quarter. Quest Partners LLC now owns 6,056 shares of the company's stock worth $79,000 after buying an additional 4,692 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Viridian Therapeutics by 24.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company's stock valued at $156,000 after acquiring an additional 2,359 shares in the last quarter. AlphaCentric Advisors LLC raised its holdings in Viridian Therapeutics by 108.3% in the 2nd quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company's stock worth $163,000 after purchasing an additional 6,500 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Viridian Therapeutics by 14.7% in the 2nd quarter. Arizona State Retirement System now owns 13,178 shares of the company's stock worth $171,000 after purchasing an additional 1,688 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Viridian Therapeutics during the 3rd quarter valued at about $208,000.

Viridian Therapeutics Stock Performance

VRDN stock traded down $0.04 during trading on Wednesday, reaching $21.87. The stock had a trading volume of 687,881 shares, compared to its average volume of 1,119,097. The firm has a market cap of $1.73 billion, a PE ratio of -5.07 and a beta of 1.10. The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04. The stock's 50 day moving average is $22.73 and its two-hundred day moving average is $17.30. Viridian Therapeutics, Inc. has a 52 week low of $11.40 and a 52 week high of $27.20.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.11) by ($0.04). Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. The business had revenue of $0.09 million during the quarter, compared to analysts' expectations of $0.08 million. As a group, equities analysts anticipate that Viridian Therapeutics, Inc. will post -4.04 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on VRDN shares. Needham & Company LLC reissued a "buy" rating and issued a $38.00 price target on shares of Viridian Therapeutics in a research note on Monday. Oppenheimer restated an "outperform" rating and issued a $28.00 target price (down previously from $31.00) on shares of Viridian Therapeutics in a research note on Monday, August 12th. The Goldman Sachs Group lifted their price target on Viridian Therapeutics from $25.00 to $31.00 and gave the company a "buy" rating in a research report on Thursday, September 12th. Royal Bank of Canada reiterated an "outperform" rating and issued a $44.00 price objective on shares of Viridian Therapeutics in a report on Thursday, September 19th. Finally, HC Wainwright boosted their target price on shares of Viridian Therapeutics from $27.00 to $34.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $36.33.

Insider Activity

In other Viridian Therapeutics news, CEO Stephen F. Mahoney bought 21,400 shares of the business's stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average cost of $23.33 per share, with a total value of $499,262.00. Following the completion of the acquisition, the chief executive officer now owns 21,400 shares in the company, valued at $499,262. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Fairmount Funds Management Llc purchased 1,600,000 shares of the firm's stock in a transaction that occurred on Friday, September 13th. The shares were acquired at an average cost of $18.75 per share, for a total transaction of $30,000,000.00. Following the purchase, the director now owns 3,445,813 shares of the company's stock, valued at $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 purchased a total of 1,626,400 shares of company stock worth $30,616,312 over the last quarter. Insiders own 0.65% of the company's stock.

Viridian Therapeutics 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.