Commodore Capital LP Decreases Position in Viridian Therapeutics, Inc. $VRDN

Commodore Capital LP decreased its position in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 34.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,200,000 shares of the company’s stock after selling 1,675,000 shares during the quarter. Viridian Therapeutics accounts for 3.4% of Commodore Capital LP’s portfolio, making the stock its 12th largest position. Commodore Capital LP’s holdings in Viridian Therapeutics were worth $69,056,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE lifted its position in Viridian Therapeutics by 23.2% in the 3rd quarter. US Bancorp DE now owns 2,457 shares of the company’s stock valued at $53,000 after acquiring an additional 463 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position 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 buying an additional 876 shares during the last quarter. Sei Investments Co. increased its holdings in Viridian Therapeutics by 10.0% in the 3rd quarter. Sei Investments Co. now owns 11,556 shares of the company’s stock worth $249,000 after buying an additional 1,046 shares in the last quarter. Knights of Columbus Asset Advisors LLC raised its position in Viridian Therapeutics by 2.4% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 59,410 shares of the company’s stock worth $1,282,000 after buying an additional 1,386 shares during the last quarter. Finally, Swiss National Bank lifted its stake in Viridian Therapeutics by 1.3% during the 2nd quarter. Swiss National Bank now owns 108,900 shares of the company’s stock valued at $1,522,000 after acquiring an additional 1,400 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Viridian Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Wedbush restated an “outperform” rating and issued a $44.00 price target on shares of Viridian Therapeutics in a research note on Wednesday. UBS Group assumed coverage on Viridian Therapeutics in a research report on Wednesday, January 7th. They set a “buy” rating and a $50.00 price objective for the company. Royal Bank Of Canada dropped their target price on Viridian Therapeutics from $45.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, February 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Viridian Therapeutics in a research note on Wednesday, January 21st. Thirteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.21.

Viridian Therapeutics Stock Performance

NASDAQ:VRDN opened at $28.68 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 12.65 and a current ratio of 12.65. The stock has a 50-day simple moving average of $30.51 and a two-hundred day simple moving average of $27.21. The firm has a market capitalization of $2.93 billion, a PE ratio of -8.72 and a beta of 1.00. Viridian Therapeutics, Inc. has a 52-week low of $9.90 and a 52-week high of $34.29.

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

Insider Activity

In other news, insider Jennifer Tousignant sold 2,272 shares of the firm’s stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $31.16, for a total transaction of $70,795.52. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.58% of the stock is currently owned by company insiders.

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.