Wellington Management Group LLP cut its stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) by 16.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 235,987 shares of the company's stock after selling 48,057 shares during the quarter. Wellington Management Group LLP owned approximately 0.30% of Viridian Therapeutics worth $5,369,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Quest Partners LLC increased its stake in shares of Viridian Therapeutics by 344.0% in the 2nd quarter. Quest Partners LLC now owns 6,056 shares of the company's stock valued at $79,000 after purchasing an additional 4,692 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Viridian Therapeutics during the 3rd quarter valued at approximately $149,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Viridian Therapeutics in the 3rd quarter valued at $208,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Viridian Therapeutics by 24.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company's stock worth $156,000 after acquiring an additional 2,359 shares in the last quarter. Finally, AlphaCentric Advisors LLC raised its position in Viridian Therapeutics by 108.3% during the second quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company's stock worth $163,000 after acquiring an additional 6,500 shares during the period.
Viridian Therapeutics Trading Down 3.3 %
Shares of VRDN stock traded down $0.72 during trading hours on Tuesday, hitting $20.82. The company had a trading volume of 2,078,620 shares, compared to its average volume of 1,150,365. 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 stock has a market capitalization of $1.65 billion, a PE ratio of -4.83 and a beta of 1.04. The company's fifty day moving average is $21.95 and its 200 day moving average is $18.05. Viridian Therapeutics, Inc. has a fifty-two week low of $11.40 and a fifty-two week high of $27.20.
Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing the consensus estimate of ($1.11) by ($0.04). The firm had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.08 million. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. Research analysts expect that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current fiscal year.
Insider Buying and Selling at Viridian Therapeutics
In related news, COO Thomas W. Beetham purchased 5,000 shares of the company's stock in a transaction on Friday, September 27th. The shares were bought at an average cost of $23.41 per share, for a total transaction of $117,050.00. Following the completion of the purchase, the chief operating officer now directly owns 6,000 shares of the company's stock, valued at approximately $140,460. This trade represents a 500.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Stephen F. Mahoney acquired 21,400 shares of the business's stock in a transaction on Friday, September 27th. The shares were bought at an average cost of $23.33 per share, for a total transaction of $499,262.00. Following the acquisition, the chief executive officer now owns 21,400 shares of the company's stock, valued at $499,262. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.65% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
VRDN has been the topic of several research analyst reports. TD Cowen assumed coverage on shares of Viridian Therapeutics in a research report on Monday, November 25th. They issued a "buy" rating on the stock. Royal Bank of Canada increased their target price on Viridian Therapeutics from $44.00 to $47.00 and gave the company an "outperform" rating in a report on Tuesday. Needham & Company LLC reaffirmed a "buy" rating and issued a $38.00 price target on shares of Viridian Therapeutics in a research note on Monday, November 25th. HC Wainwright reiterated a "buy" rating and issued a $34.00 target price on shares of Viridian Therapeutics in a research report on Monday. Finally, BTIG Research lifted their price objective on Viridian Therapeutics from $56.00 to $61.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Two 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 stock currently has an average rating of "Moderate Buy" and a consensus price target of $36.67.
Check Out Our Latest Analysis on VRDN
About Viridian Therapeutics
(
Free Report)
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.
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