Persistent Asset Partners Ltd Makes New Investment in Viridian Therapeutics, Inc. $VRDN

Persistent Asset Partners Ltd purchased a new position in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 25,490 shares of the company’s stock, valued at approximately $468,000.

Other institutional investors have also recently made changes to their positions in the company. MetLife Investment Management LLC raised its holdings in shares of Viridian Therapeutics by 0.8% in the fourth quarter. MetLife Investment Management LLC now owns 43,985 shares of the company’s stock valued at $1,369,000 after acquiring an additional 356 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Viridian Therapeutics by 0.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,360 shares of the company’s stock worth $4,337,000 after purchasing an additional 380 shares during the period. US Bancorp DE lifted its position in shares of Viridian Therapeutics by 23.2% in the 3rd quarter. US Bancorp DE now owns 2,457 shares of the company’s stock worth $53,000 after purchasing an additional 463 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Viridian Therapeutics by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 216,525 shares of the company’s stock worth $4,235,000 after purchasing an additional 659 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Viridian Therapeutics by 1.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company’s stock valued at $669,000 after purchasing an additional 876 shares in the last quarter.

Viridian Therapeutics Stock Performance

NASDAQ VRDN opened at $22.08 on Monday. Viridian Therapeutics, Inc. has a 52 week low of $13.18 and a 52 week high of $34.29. The company has a 50 day moving average price of $19.01 and a 200 day moving average price of $21.23. The company has a quick ratio of 16.95, a current ratio of 16.95 and a debt-to-equity ratio of 0.43. The firm has a market cap of $2.50 billion, a PE ratio of -6.55 and a beta of 0.91.

Viridian Therapeutics (NASDAQ:VRDN) last announced its earnings results on Thursday, August 6th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.02). Viridian Therapeutics had a negative net margin of 505.86% and a negative return on equity of 72.97%. The firm had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.06 million. As a group, sell-side analysts forecast that Viridian Therapeutics, Inc. will post -4.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Wells Fargo & Company raised shares of Viridian Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $20.00 to $31.00 in a research note on Monday, June 29th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $39.00 target price on shares of Viridian Therapeutics in a research report on Tuesday, June 30th. Wall Street Zen downgraded Viridian Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. Wedbush boosted their price target on Viridian Therapeutics from $32.00 to $43.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $32.00 price objective on shares of Viridian Therapeutics in a research note on Monday, June 29th. Thirteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $38.93.

Viridian Therapeutics Profile

Viridian Therapeutics, Inc (NASDAQ: VRDN) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted antibody therapeutics for patients suffering from rare and serious diseases. The company’s lead program, VRDN-001, is a fully human monoclonal antibody that antagonizes the insulin-like growth factor-1 receptor (IGF-1R), with an initial focus on thyroid eye disease (TED). By selectively inhibiting IGF-1R signaling, VRDN-001 aims to reduce inflammation and tissue remodeling associated with TED and related disorders.

In addition to VRDN-001, Viridian is advancing a second antibody program, VRDN-002, which targets complement-mediated pathways implicated in autoimmune and inflammatory diseases.