Viridian Therapeutics (NASDAQ:VRDN) Director Fairmount Funds Management Llc Purchases 1,176,470 Shares

Viridian Therapeutics, Inc. (NASDAQ:VRDN) Director Fairmount Funds Management Llc purchased 1,176,470 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were bought at an average price of $17.00 per share, with a total value of $19,999,990.00. Following the purchase, the director directly owned 5,090,928 shares of the company’s stock, valued at approximately $86,545,776. The trade was a 30.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Viridian Therapeutics Stock Performance

Shares of Viridian Therapeutics stock traded up $0.18 during trading hours on Wednesday, hitting $17.04. 2,203,975 shares of the company were exchanged, compared to its average volume of 2,340,641. Viridian Therapeutics, Inc. has a 1 year low of $12.07 and a 1 year high of $34.29. The company has a current ratio of 15.15, a quick ratio of 15.15 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average of $20.83 and a 200-day moving average of $26.80. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -5.13 and a beta of 0.82.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.90) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.16. Viridian Therapeutics had a negative return on equity of 80.19% and a negative net margin of 490.31%.The business had revenue of $0.14 million during the quarter, compared to analysts’ expectations of $0.04 million. During the same quarter in the prior year, the business earned ($0.87) earnings per share. The company’s quarterly revenue was up 95.8% compared to the same quarter last year. As a group, analysts expect that Viridian Therapeutics, Inc. will post -3.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on VRDN shares. Stifel Nicolaus set a $39.00 price objective on Viridian Therapeutics in a research report on Wednesday. HC Wainwright cut their price objective on Viridian Therapeutics from $34.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday, March 31st. Needham & Company LLC reiterated a “buy” rating and issued a $32.00 price objective on shares of Viridian Therapeutics in a research report on Tuesday, May 5th. The Goldman Sachs Group cut their price objective on Viridian Therapeutics from $36.00 to $31.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Finally, Truist Financial cut their price objective on Viridian Therapeutics from $36.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Twelve analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.43.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. MetLife Investment Management LLC increased its position 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 buying an additional 356 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Viridian Therapeutics by 0.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,360 shares of the company’s stock valued at $4,337,000 after acquiring an additional 380 shares during the last quarter. US Bancorp DE boosted its stake in shares of Viridian Therapeutics by 23.2% during the third quarter. US Bancorp DE now owns 2,457 shares of the company’s stock valued at $53,000 after acquiring an additional 463 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Viridian Therapeutics by 0.3% during the first quarter. Bank of New York Mellon Corp now owns 216,525 shares of the company’s stock valued at $4,235,000 after acquiring an additional 659 shares during the last quarter. 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 acquiring an additional 876 shares during the last quarter.

About Viridian Therapeutics

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.