Loomis Sayles & Co. L P Acquires New Stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Loomis Sayles & Co. L P acquired a new position in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,400,381 shares of the company’s stock, valued at approximately $26,845,000. Loomis Sayles & Co. L P owned about 1.77% of Viridian Therapeutics as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. R Squared Ltd purchased a new position in Viridian Therapeutics during the fourth quarter worth about $26,000. AlphaQuest LLC raised its stake in shares of Viridian Therapeutics by 119.0% during the 4th quarter. AlphaQuest LLC now owns 2,795 shares of the company’s stock worth $54,000 after buying an additional 1,519 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Viridian Therapeutics during the 3rd quarter worth approximately $149,000. Quantbot Technologies LP acquired a new stake in shares of Viridian Therapeutics in the 4th quarter valued at approximately $164,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Viridian Therapeutics in the third quarter valued at approximately $208,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on VRDN shares. Wells Fargo & Company reissued an “equal weight” rating and issued a $27.00 target price (down previously from $37.00) on shares of Viridian Therapeutics in a report on Thursday, December 19th. HC Wainwright reiterated a “buy” rating and issued a $34.00 price objective on shares of Viridian Therapeutics in a research note on Monday, December 16th. Needham & Company LLC restated a “buy” rating and set a $38.00 target price on shares of Viridian Therapeutics in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada increased their target price on shares of Viridian Therapeutics from $44.00 to $47.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.70.

Viridian Therapeutics Stock Performance

Viridian Therapeutics stock opened at $14.67 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 18.55 and a current ratio of 18.55. Viridian Therapeutics, Inc. has a fifty-two week low of $11.40 and a fifty-two week high of $27.20. The stock has a fifty day moving average of $16.82 and a two-hundred day moving average of $19.70. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -3.40 and a beta of 1.05.

Viridian Therapeutics (NASDAQ:VRDN) last announced its earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share for the quarter, beating the consensus estimate of ($1.05) by $0.24. The firm had revenue of $0.07 million during the quarter, compared to the consensus estimate of $0.05 million. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. On average, analysts anticipate that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

About Viridian Therapeutics

Viridian Therapeutics, Inc, a biotechnology company, discover and develops treatments for serious and rare diseases. The company's product pipeline includes VRDN-001, a monoclonal antibody targeting insulin-like growth factor-1 receptor that is in Phase 3 clinical trial for the treatment of thyroid eye disease (TED); and VRDN-003, a next generation IGF-1R humanized monoclonal antibodies targeting IGF-1R and incorporating half-life extension technology for the treatment of TED.