Parkman Healthcare Partners LLC Buys New Stake in Viridian Therapeutics, Inc. $VRDN

Parkman Healthcare Partners LLC purchased a new position in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,377,576 shares of the company’s stock, valued at approximately $25,306,000. Viridian Therapeutics makes up 2.6% of Parkman Healthcare Partners LLC’s portfolio, making the stock its 8th biggest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Merck & Co. Inc. purchased a new stake in Viridian Therapeutics in the 2nd quarter valued at $1,716,015,000. Bank of America Corp DE grew its position in Viridian Therapeutics by 17.5% during the 1st quarter. Bank of America Corp DE now owns 1,163,615 shares of the company’s stock worth $22,760,000 after purchasing an additional 173,498 shares during the last quarter. Blue Owl Capital Holdings LP acquired a new position in Viridian Therapeutics in the second quarter valued at $4,776,000. Rice Hall James & Associates LLC acquired a new position in Viridian Therapeutics in the second quarter valued at $21,601,000. Finally, Perceptive Advisors LLC raised its holdings in shares of Viridian Therapeutics by 108.1% in the fourth quarter. Perceptive Advisors LLC now owns 3,042,703 shares of the company’s stock valued at $94,689,000 after buying an additional 1,580,303 shares during the last quarter.

Viridian Therapeutics Stock Down 1.1%

Shares of NASDAQ:VRDN opened at $24.02 on Tuesday. The company has a market cap of $2.72 billion, a price-to-earnings ratio of -7.13 and a beta of 0.91. The firm’s 50-day simple moving average is $19.97 and its 200-day simple moving average is $20.85. The company has a quick ratio of 16.95, a current ratio of 16.95 and a debt-to-equity ratio of 0.43. Viridian Therapeutics, Inc. has a fifty-two week low of $13.18 and a fifty-two week high of $34.29.

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

Analysts Set New Price Targets

VRDN has been the subject of several recent research reports. Wedbush increased their target price on shares of Viridian Therapeutics from $32.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 30th. Royal Bank Of Canada upped their price objective on Viridian Therapeutics from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Wall Street Zen cut Viridian Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Truist Financial increased their price objective on Viridian Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, Wells Fargo & Company upgraded Viridian Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $20.00 to $31.00 in a research note on Monday, June 29th. Twelve analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.54.

Insiders Place Their Bets

In other Viridian Therapeutics news, insider Jennifer Tousignant sold 14,212 shares of Viridian Therapeutics stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $24.50, for a total value of $348,194.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.40% of the company’s stock.

Viridian Therapeutics Company 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.