Viridian Therapeutics, Inc. $VRDN Stock Holdings Reduced by Velan Capital Investment Management LP

Velan Capital Investment Management LP reduced its position in Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 89.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,000 shares of the company’s stock after selling 81,123 shares during the quarter. Velan Capital Investment Management LP’s holdings in Viridian Therapeutics were worth $184,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in VRDN. Merck & Co. Inc. acquired a new position in Viridian Therapeutics in the second quarter worth approximately $1,716,015. Bank of America Corp DE lifted its stake in Viridian Therapeutics by 17.5% in the first quarter. Bank of America Corp DE now owns 1,163,615 shares of the company’s stock valued at $22,760,000 after acquiring an additional 173,498 shares during the last quarter. Rice Hall James & Associates LLC acquired a new stake in Viridian Therapeutics in the second quarter valued at approximately $21,601,000. Blue Owl Capital Holdings LP bought a new stake in Viridian Therapeutics in the second quarter worth approximately $4,776,000. Finally, Perceptive Advisors LLC grew its position in Viridian Therapeutics by 108.1% in the fourth quarter. Perceptive Advisors LLC now owns 3,042,703 shares of the company’s stock worth $94,689,000 after acquiring an additional 1,580,303 shares in the last quarter.

Analyst Upgrades and Downgrades

VRDN has been the topic of a number of recent research reports. Needham & Company LLC restated a “buy” rating and set a $32.00 price target on shares of Viridian Therapeutics in a report on Monday, June 29th. Truist Financial upped their price objective on shares of Viridian Therapeutics from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Stifel Nicolaus set a $39.00 target price on shares of Viridian Therapeutics in a research report on Wednesday, May 13th. Weiss Ratings downgraded shares of Viridian Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 30th. Finally, Royal Bank Of Canada raised their target price on Viridian Therapeutics from $35.00 to $36.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Viridian Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $38.54.

Insider Transactions at Viridian Therapeutics

In related news, insider Jennifer Tousignant sold 14,212 shares of Viridian Therapeutics stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $24.50, for a total value of $348,194.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.40% of the company’s stock.

Viridian Therapeutics Stock Down 1.1%

Shares of Viridian Therapeutics stock opened at $22.78 on Thursday. Viridian Therapeutics, Inc. has a 12-month low of $13.18 and a 12-month high of $34.29. The company has a quick ratio of 16.95, a current ratio of 16.95 and a debt-to-equity ratio of 0.43. The stock has a 50 day moving average price of $20.90 and a two-hundred day moving average price of $20.55. The stock has a market capitalization of $2.58 billion, a P/E ratio of -6.76 and a beta of 0.97.

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