SG Americas Securities LLC Grows Stock Position in Viridian Therapeutics, Inc. $VRDN

SG Americas Securities LLC boosted its holdings in Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 81.5% during the first quarter, Holdings Channel reports. The institutional investor owned 60,044 shares of the company’s stock after buying an additional 26,956 shares during the period. SG Americas Securities LLC’s holdings in Viridian Therapeutics were worth $1,174,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Hudson Bay Capital Management LP increased its stake in shares of Viridian Therapeutics by 46.6% during the 3rd quarter. Hudson Bay Capital Management LP now owns 175,251 shares of the company’s stock valued at $3,782,000 after acquiring an additional 55,689 shares during the last quarter. Jennison Associates LLC purchased a new position in shares of Viridian Therapeutics during the 4th quarter worth about $35,915,000. Knott David M Jr boosted its position in shares of Viridian Therapeutics by 27.4% in the third quarter. Knott David M Jr now owns 116,574 shares of the company’s stock worth $2,516,000 after acquiring an additional 25,091 shares during the last quarter. Perceptive Advisors LLC boosted its position 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 worth $94,689,000 after acquiring an additional 1,580,303 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Viridian Therapeutics by 29.6% during the 4th quarter. Vanguard Group Inc. now owns 5,612,144 shares of the company’s stock worth $174,650,000 after buying an additional 1,280,161 shares during the last quarter.

Insider Buying and Selling

In related news, Director Fairmount Funds Management Llc purchased 1,176,470 shares of Viridian Therapeutics stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average cost of $17.00 per share, with a total value of $19,999,990.00. Following the transaction, the director 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 position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.40% of the company’s stock.

Viridian Therapeutics Price Performance

Shares of NASDAQ VRDN opened at $19.40 on Friday. The stock has a fifty day moving average price of $16.69 and a 200 day moving average price of $23.80. The company has a current ratio of 15.15, a quick ratio of 15.15 and a debt-to-equity ratio of 0.10. Viridian Therapeutics, Inc. has a 12-month low of $13.18 and a 12-month high of $34.29. The company has a market cap of $2.00 billion, a P/E ratio of -5.84 and a beta of 0.90.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.90) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $0.14 million for the quarter, compared to analysts’ expectations of $0.04 million. During the same quarter in the previous year, the firm posted ($0.87) earnings per share. The firm’s quarterly revenue was up 95.8% on a year-over-year basis. Research analysts anticipate that Viridian Therapeutics, Inc. will post -3.87 EPS for the current fiscal year.

Analyst Ratings Changes

VRDN has been the topic of a number of research analyst reports. Weiss Ratings cut Viridian Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. Wells Fargo & Company upgraded Viridian Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $20.00 to $31.00 in a report on Monday, June 29th. Wall Street Zen raised shares of Viridian Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday, June 14th. Needham & Company LLC restated a “buy” rating and issued a $32.00 price target on shares of Viridian Therapeutics in a report on Monday, June 29th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $39.00 price target on shares of Viridian Therapeutics in a research report on Tuesday. Thirteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.79.

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.