Simplify Asset Management Inc. Sells 47,300 Shares of Viridian Therapeutics, Inc. $VRDN

Simplify Asset Management Inc. cut its position in Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 45.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,231 shares of the company’s stock after selling 47,300 shares during the period. Simplify Asset Management Inc. owned 0.05% of Viridian Therapeutics worth $1,100,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Viridian Therapeutics by 29.6% during the 4th quarter. Vanguard Group Inc. now owns 5,612,144 shares of the company’s stock worth $174,650,000 after buying an additional 1,280,161 shares during the period. Commodore Capital LP grew its stake in Viridian Therapeutics by 35.4% in the second quarter. Commodore Capital LP now owns 4,875,000 shares of the company’s stock valued at $68,152,000 after acquiring an additional 1,275,000 shares during the period. State Street Corp increased its holdings in shares of Viridian Therapeutics by 35.7% during the fourth quarter. State Street Corp now owns 3,466,560 shares of the company’s stock valued at $107,879,000 after acquiring an additional 912,394 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Viridian Therapeutics by 42.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,439,414 shares of the company’s stock valued at $107,036,000 after acquiring an additional 1,021,310 shares in the last quarter. Finally, Perceptive Advisors LLC raised its position in shares of Viridian Therapeutics by 108.1% during the fourth quarter. Perceptive Advisors LLC now owns 3,042,703 shares of the company’s stock worth $94,689,000 after purchasing an additional 1,580,303 shares during the period.

Viridian Therapeutics Stock Performance

Shares of Viridian Therapeutics stock opened at $19.40 on Friday. The stock has a fifty day simple moving average of $16.69 and a 200 day simple moving average of $23.80. Viridian Therapeutics, Inc. has a 12-month low of $13.18 and a 12-month high of $34.29. The company has a market capitalization of $2.00 billion, a P/E ratio of -5.84 and a beta of 0.90. The company has a current ratio of 15.15, a quick ratio of 15.15 and a debt-to-equity ratio of 0.10.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.90) earnings per share for the quarter, beating the consensus estimate of ($1.06) by $0.16. The business had revenue of $0.14 million for the quarter, compared to analysts’ expectations of $0.04 million. Viridian Therapeutics had a negative return on equity of 80.19% and a negative net margin of 490.31%.The business’s revenue was up 95.8% on a year-over-year basis. During the same period last year, the business earned ($0.87) EPS. On average, sell-side analysts anticipate that Viridian Therapeutics, Inc. will post -3.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Stifel Nicolaus set a $39.00 target price on Viridian Therapeutics in a report on Wednesday, May 13th. Royal Bank Of Canada boosted their price target on shares of Viridian Therapeutics from $34.00 to $35.00 and gave the company an “outperform” rating in a research note on Tuesday. Wedbush upped their price objective on shares of Viridian Therapeutics from $32.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Viridian Therapeutics in a research note on Tuesday. Finally, Evercore set a $26.00 price objective on shares of Viridian Therapeutics in a report on Friday, May 15th. Thirteen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Viridian Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $38.79.

Insider Activity at Viridian Therapeutics

In other news, Director Fairmount Funds Management Llc bought 1,176,470 shares of the stock in a transaction dated Monday, May 11th. The stock was bought at an average price of $17.00 per share, for a total transaction of $19,999,990.00. Following the completion of the acquisition, the director directly owned 5,090,928 shares in the company, valued at approximately $86,545,776. This trade represents a 30.05% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is currently owned by corporate 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.