Propel Bio Management LLC Makes New Investment in Viridian Therapeutics, Inc. $VRDN

Propel Bio Management LLC purchased a new position in Viridian Therapeutics, Inc. (NASDAQ:VRDN) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 90,000 shares of the company’s stock, valued at approximately $1,942,000. Viridian Therapeutics comprises about 1.9% of Propel Bio Management LLC’s investment portfolio, making the stock its 15th largest position.

Other institutional investors have also added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new stake in shares of Viridian Therapeutics in the 3rd quarter valued at about $35,000. Farther Finance Advisors LLC grew its position in Viridian Therapeutics by 332.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,940 shares of the company’s stock worth $42,000 after acquiring an additional 1,491 shares during the last quarter. Bessemer Group Inc. increased its stake in Viridian Therapeutics by 947.7% in the 3rd quarter. Bessemer Group Inc. now owns 2,085 shares of the company’s stock worth $45,000 after purchasing an additional 1,886 shares during the period. US Bancorp DE lifted its position in Viridian Therapeutics by 23.2% in the third quarter. US Bancorp DE now owns 2,457 shares of the company’s stock valued at $53,000 after purchasing an additional 463 shares during the last quarter. Finally, Clearstead Advisors LLC boosted its stake in shares of Viridian Therapeutics by 3,868.3% during the third quarter. Clearstead Advisors LLC now owns 5,000 shares of the company’s stock valued at $108,000 after purchasing an additional 4,874 shares during the period.

Viridian Therapeutics Price Performance

VRDN opened at $30.39 on Thursday. The firm has a market cap of $3.11 billion, a PE ratio of -9.24 and a beta of 1.00. The stock has a 50-day moving average price of $30.88 and a 200-day moving average price of $26.70. Viridian Therapeutics, Inc. has a 1 year low of $9.90 and a 1 year high of $34.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 12.65 and a quick ratio of 12.65.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings data on Thursday, February 26th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by ($0.18). The business had revenue of $0.13 million during the quarter, compared to the consensus estimate of $15.75 million. Viridian Therapeutics had a negative net margin of 483.57% and a negative return on equity of 83.25%. Sell-side analysts predict that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current fiscal year.

Insider Activity at Viridian Therapeutics

In other news, insider Jennifer Tousignant sold 2,272 shares of the company’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $31.16, for a total transaction of $70,795.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.58% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on VRDN shares. Truist Financial lowered their price target on shares of Viridian Therapeutics from $41.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, January 8th. UBS Group started coverage on shares of Viridian Therapeutics in a research note on Wednesday, January 7th. They set a “buy” rating and a $50.00 price objective for the company. Wells Fargo & Company increased their target price on shares of Viridian Therapeutics from $26.00 to $29.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. Wedbush boosted their price target on Viridian Therapeutics from $42.00 to $47.00 and gave the company an “outperform” rating in a report on Wednesday, December 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $42.00 price target on shares of Viridian Therapeutics in a research report on Wednesday, February 4th. Thirteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.43.

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.