Principal Financial Group Inc. Decreases Holdings in Viridian Therapeutics, Inc. $VRDN

Principal Financial Group Inc. reduced its position in Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 57.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,200 shares of the company’s stock after selling 100,730 shares during the quarter. Principal Financial Group Inc.’s holdings in Viridian Therapeutics were worth $1,471,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Perceptive Advisors LLC lifted its holdings in shares of Viridian Therapeutics by 108.1% during the 4th quarter. Perceptive Advisors LLC now owns 3,042,703 shares of the company’s stock valued at $94,689,000 after purchasing an additional 1,580,303 shares during the last quarter. Morgan Stanley grew its stake in Viridian Therapeutics by 805.6% during the 4th quarter. Morgan Stanley now owns 1,738,225 shares of the company’s stock worth $54,094,000 after buying an additional 1,546,284 shares during the last quarter. Avoro Capital Advisors LLC acquired a new position in Viridian Therapeutics during the 4th quarter valued at about $46,680,000. Vanguard Group Inc. increased its position in Viridian Therapeutics by 29.6% during the 4th quarter. Vanguard Group Inc. now owns 5,612,144 shares of the company’s stock valued at $174,650,000 after buying an additional 1,280,161 shares in the last quarter. Finally, Commodore Capital LP raised its stake in Viridian Therapeutics by 35.4% in the second quarter. Commodore Capital LP now owns 4,875,000 shares of the company’s stock valued at $68,152,000 after buying an additional 1,275,000 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages have weighed in on VRDN. Evercore set a $26.00 price target on Viridian Therapeutics in a report on Friday, May 15th. The Goldman Sachs Group restated a “buy” rating and set a $39.00 price objective on shares of Viridian Therapeutics in a report on Tuesday, June 30th. Stifel Nicolaus set a $39.00 price objective on shares of Viridian Therapeutics in a research report on Wednesday, May 13th. Royal Bank Of Canada lifted their target price on shares of Viridian Therapeutics from $34.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 30th. Finally, Weiss Ratings lowered shares of Viridian Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 30th. Thirteen analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $38.79.

Viridian Therapeutics Stock Up 0.1%

Viridian Therapeutics stock opened at $19.90 on Friday. The business’s 50-day simple moving average is $17.93 and its two-hundred day simple moving average is $22.09. The company has a debt-to-equity ratio of 0.10, a quick ratio of 15.15 and a current ratio of 15.15. The company has a market cap of $2.05 billion, a PE ratio of -5.99 and a beta of 0.90. 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 announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.90) earnings per share (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 firm had revenue of $0.14 million during the quarter, compared to analysts’ expectations of $0.04 million. During the same period last year, the business posted ($0.87) earnings per share. The company’s revenue for the quarter was up 95.8% compared to the same quarter last year. Equities analysts anticipate that Viridian Therapeutics, Inc. will post -3.87 EPS for the current year.

Insiders Place Their Bets

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc purchased 1,176,470 shares of Viridian Therapeutics stock in a transaction on Monday, May 11th. The stock was bought 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 $86,545,776. This represents a 30.05% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.40% of the company’s stock.

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.