Y Intercept Hong Kong Ltd Invests $660,000 in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Y Intercept Hong Kong Ltd bought a new position in Viridian Therapeutics, Inc. (NASDAQ:VRDN - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 29,002 shares of the company's stock, valued at approximately $660,000.

A number of other hedge funds have also bought and sold shares of VRDN. Quest Partners LLC increased its stake 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. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Viridian Therapeutics in the 3rd quarter valued at approximately $149,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Viridian Therapeutics by 24.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company's stock worth $156,000 after buying an additional 2,359 shares during the period. AlphaCentric Advisors LLC lifted its position in Viridian Therapeutics by 108.3% during the 2nd 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. Finally, Arizona State Retirement System boosted its position in Viridian Therapeutics by 14.7% in the second quarter. Arizona State Retirement System now owns 13,178 shares of the company's stock valued at $171,000 after buying an additional 1,688 shares during the last quarter.

Insider Buying and Selling

In related news, COO Thomas W. Beetham bought 5,000 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average cost of $23.41 per share, with a total value of $117,050.00. Following the purchase, the chief operating officer now directly owns 6,000 shares of the company's stock, valued at $140,460. This trade represents a 500.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Stephen F. Mahoney purchased 21,400 shares of the firm's stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average price of $23.33 per share, with a total value of $499,262.00. Following the purchase, the chief executive officer now directly owns 21,400 shares of the company's stock, valued at $499,262. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.65% of the stock is owned by company insiders.

Viridian Therapeutics Price Performance

Shares of VRDN stock traded down $0.14 during trading hours on Friday, reaching $17.85. The company had a trading volume of 1,558,661 shares, compared to its average volume of 1,014,817. Viridian Therapeutics, Inc. has a 12-month low of $11.40 and a 12-month high of $27.20. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of -4.14 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 18.55 and a current ratio of 18.55. The stock has a fifty day moving average of $22.04 and a 200-day moving average of $17.92.

Viridian Therapeutics (NASDAQ:VRDN - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $0.08 million. On average, equities analysts anticipate that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on VRDN shares. HC Wainwright raised their target price on Viridian Therapeutics from $27.00 to $34.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $44.00 price objective on shares of Viridian Therapeutics in a report on Thursday, December 5th. Needham & Company LLC reiterated a "buy" rating and issued a $38.00 price objective on shares of Viridian Therapeutics in a research report on Monday, November 25th. The Goldman Sachs Group raised 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, BTIG Research upped their price target on Viridian Therapeutics from $56.00 to $61.00 and gave the stock a "buy" rating in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Viridian Therapeutics has an average rating of "Moderate Buy" and an average price target of $36.33.

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.