Nicholas Investment Partners LP Buys New Shares in Viridian Therapeutics, Inc. $VRDN

Nicholas Investment Partners LP bought a new stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 67,082 shares of the company’s stock, valued at approximately $2,088,000.

A number of other institutional investors also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of Viridian Therapeutics in the third quarter valued at approximately $35,000. ANTIPODES PARTNERS Ltd acquired a new position in shares of Viridian Therapeutics during the fourth quarter worth $36,000. Bessemer Group Inc. increased its holdings in shares of Viridian Therapeutics by 947.7% during the third quarter. Bessemer Group Inc. now owns 2,085 shares of the company’s stock worth $45,000 after buying an additional 1,886 shares in the last quarter. Larson Financial Group LLC acquired a new stake in Viridian Therapeutics in the third quarter valued at $52,000. Finally, US Bancorp DE increased its holdings 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 period.

Viridian Therapeutics Stock Performance

Viridian Therapeutics stock opened at $16.35 on Friday. The company has a quick ratio of 15.15, a current ratio of 15.15 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $1.69 billion, a PE ratio of -4.92 and a beta of 0.90. The firm has a fifty day simple moving average of $15.96 and a two-hundred day simple moving average of $25.29. Viridian Therapeutics, Inc. has a twelve month low of $13.18 and a twelve month high of $34.29.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.90) earnings per share for the quarter, topping the consensus estimate of ($1.06) by $0.16. The business had revenue of $0.14 million during the quarter, compared to the consensus estimate of $0.04 million. Viridian Therapeutics had a negative net margin of 490.31% and a negative return on equity of 80.19%. The firm’s revenue for the quarter was up 95.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.87) earnings per share. Research analysts expect that Viridian Therapeutics, Inc. will post -3.87 EPS for the current year.

Analyst Upgrades and Downgrades

VRDN has been the topic of several recent research reports. HC Wainwright dropped their price target on shares of Viridian Therapeutics from $34.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday, March 31st. Evercore set a $26.00 price target on shares of Viridian Therapeutics in a research report on Friday, May 15th. Stifel Nicolaus set a $39.00 target price on shares of Viridian Therapeutics in a research report on Wednesday, May 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Viridian Therapeutics in a research report on Monday, April 20th. Finally, Royal Bank Of Canada upped their target price on shares of Viridian Therapeutics from $30.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Twelve investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Viridian Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $36.14.

Insiders Place Their Bets

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc purchased 1,176,470 shares of the stock in a transaction on Monday, May 11th. The stock was acquired at an average cost of $17.00 per share, with a total value of $19,999,990.00. Following the completion of the purchase, the director directly owned 5,090,928 shares of the company’s stock, valued at approximately $86,545,776. This trade represents a 30.05% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at 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.