Handelsbanken Fonder AB Purchases New Position in Viridian Therapeutics, Inc. $VRDN

Handelsbanken Fonder AB purchased a new stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 45,400 shares of the company’s stock, valued at approximately $834,000.

Several other large investors have also recently added to or reduced their stakes in the company. KBC Group NV acquired a new stake in shares of Viridian Therapeutics during the first quarter worth approximately $34,000. ANTIPODES PARTNERS Ltd acquired a new position in shares of Viridian Therapeutics in the 4th quarter worth approximately $36,000. Larson Financial Group LLC acquired a new position in shares of Viridian Therapeutics in the 3rd quarter worth approximately $52,000. 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. Finally, State of Wyoming acquired a new stake in Viridian Therapeutics during the 1st quarter valued at $93,000.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on VRDN. Wall Street Zen downgraded Viridian Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Stifel Nicolaus set a $39.00 target price on Viridian Therapeutics in a report on Wednesday, May 13th. Wells Fargo & Company upgraded 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. Evercore set a $26.00 price target on Viridian Therapeutics in a report on Friday, May 15th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $32.00 price target on shares of Viridian Therapeutics in a research report on Monday, June 29th. Thirteen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Viridian Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $38.93.

Viridian Therapeutics Stock Performance

Shares of Viridian Therapeutics stock opened at $24.80 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 16.95 and a quick ratio of 16.95. The firm has a 50 day simple moving average of $19.49 and a 200 day simple moving average of $21.03. Viridian Therapeutics, Inc. has a fifty-two week low of $13.18 and a fifty-two week high of $34.29. The firm has a market cap of $2.81 billion, a P/E ratio of -7.36 and a beta of 0.91.

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

Viridian Therapeutics 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.