Charles Schwab Investment Management Inc. Increases Stock Holdings in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Charles Schwab Investment Management Inc. raised its holdings in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 6.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 516,213 shares of the company's stock after purchasing an additional 32,292 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.81% of Viridian Therapeutics worth $11,744,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VRDN. Novo Holdings A S grew its position in shares of Viridian Therapeutics by 81.8% in the second quarter. Novo Holdings A S now owns 2,000,000 shares of the company's stock valued at $26,020,000 after purchasing an additional 900,000 shares during the last quarter. Maverick Capital Ltd. grew its holdings in 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 buying an additional 615,531 shares in the last quarter. Candriam S.C.A. increased its position in Viridian Therapeutics by 167.8% during the 2nd quarter. Candriam S.C.A. now owns 749,804 shares of the company's stock worth $9,754,000 after buying an additional 469,804 shares during the period. Millennium Management LLC lifted its holdings in shares of Viridian Therapeutics by 1,014.7% during the second quarter. Millennium Management LLC now owns 228,182 shares of the company's stock worth $2,969,000 after buying an additional 207,711 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Viridian Therapeutics by 1,603.4% in the third quarter. Principal Financial Group Inc. now owns 172,810 shares of the company's stock valued at $3,931,000 after acquiring an additional 162,665 shares during the period.

Analyst Ratings Changes

A number of research firms recently commented on VRDN. TD Cowen began coverage on shares of Viridian Therapeutics in a research report on Monday, November 25th. They set a "buy" rating on the stock. BTIG Research boosted their price target on Viridian Therapeutics from $56.00 to $61.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. Needham & Company LLC restated a "buy" rating and set a $38.00 price objective on shares of Viridian Therapeutics in a research note on Monday, November 25th. The Goldman Sachs Group upped their target price on Viridian Therapeutics from $25.00 to $31.00 and gave the company a "buy" rating in a research report on Thursday, September 12th. Finally, Oppenheimer restated an "outperform" rating and issued a $28.00 price target (down previously from $31.00) on shares of Viridian Therapeutics in a research report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $36.33.

Viridian Therapeutics Price Performance

VRDN stock traded down $0.19 during trading on Monday, reaching $19.53. 1,099,642 shares of the company were exchanged, compared to its average volume of 1,112,836. Viridian Therapeutics, Inc. has a twelve month low of $11.40 and a twelve month 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 $1.55 billion, a price-to-earnings ratio of -4.57 and a beta of 1.05. The company has a 50-day moving average of $22.53 and a two-hundred day moving average of $17.68.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last announced 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%. As a group, equities analysts predict that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Fairmount Funds Management Llc purchased 1,600,000 shares of the stock in a transaction on Friday, September 13th. The stock was purchased at an average price of $18.75 per share, for a total transaction of $30,000,000.00. Following the acquisition, the director now owns 3,445,813 shares in the company, valued at $64,608,993.75. This trade represents a 86.68 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen F. Mahoney bought 21,400 shares of the business's stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average price of $23.33 per share, for a total transaction of $499,262.00. Following the transaction, the chief executive officer now owns 21,400 shares in the company, valued at $499,262. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 1,626,400 shares of company stock valued at $30,616,312. 0.65% of the stock is currently owned by corporate insiders.

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.