Merck & Co. Inc. Purchases New Position in Viridian Therapeutics, Inc. $VRDN

Merck & Co. Inc. acquired a new stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 93,414 shares of the company’s stock, valued at approximately $1,716,015. Viridian Therapeutics makes up about 0.0% of Merck & Co. Inc.’s portfolio, making the stock its 10th largest position. Merck & Co. Inc. owned approximately 0.09% of Viridian Therapeutics at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. MetLife Investment Management LLC raised its holdings in Viridian Therapeutics by 0.8% in the fourth quarter. MetLife Investment Management LLC now owns 43,985 shares of the company’s stock worth $1,369,000 after purchasing an additional 356 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Viridian Therapeutics by 0.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,360 shares of the company’s stock valued at $4,337,000 after buying an additional 380 shares during the period. US Bancorp DE grew its position in Viridian Therapeutics by 23.2% during the 3rd quarter. US Bancorp DE now owns 2,457 shares of the company’s stock worth $53,000 after acquiring an additional 463 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Viridian Therapeutics by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 216,525 shares of the company’s stock worth $4,235,000 after acquiring an additional 659 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Viridian Therapeutics by 1.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company’s stock worth $669,000 after buying an additional 876 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Stifel Nicolaus set a $39.00 price objective on Viridian Therapeutics in a research report on Wednesday, May 13th. Needham & Company LLC reiterated a “buy” rating and issued a $32.00 target price on shares of Viridian Therapeutics in a research note on Monday, June 29th. Evercore set a $26.00 price objective on Viridian Therapeutics in a research note on Friday, May 15th. Wall Street Zen cut Viridian Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Finally, Wells Fargo & Company raised shares of Viridian Therapeutics from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $20.00 to $31.00 in a research note on Monday, June 29th. Twelve analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Viridian Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $38.54.

Viridian Therapeutics Stock Performance

VRDN traded down $0.71 during mid-day trading on Friday, reaching $23.17. 239,925 shares of the company traded hands, compared to its average volume of 2,151,506. Viridian Therapeutics, Inc. has a 52-week low of $13.18 and a 52-week high of $34.29. The stock has a market capitalization of $2.62 billion, a P/E ratio of -6.88 and a beta of 0.91. The company’s fifty day moving average price is $20.43 and its 200-day moving average price is $20.74. The company has a quick ratio of 16.95, a current ratio of 16.95 and a debt-to-equity ratio of 0.43.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.02). Viridian Therapeutics had a negative return on equity of 72.97% and a negative net margin of 505.86%.The firm had revenue of $0.28 million for the quarter, compared to analysts’ expectations of $0.06 million. On average, sell-side analysts expect that Viridian Therapeutics, Inc. will post -4.07 EPS for the current year.

Insider Transactions at Viridian Therapeutics

In related news, insider Jennifer Tousignant sold 14,212 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $24.50, for a total transaction of $348,194.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.40% of the stock is owned by corporate insiders.

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.