PDT Partners LLC Takes $762,000 Position in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

PDT Partners LLC purchased a new position in Viridian Therapeutics, Inc. (NASDAQ:VRDN) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 33,475 shares of the company’s stock, valued at approximately $762,000.

Several other institutional investors and hedge funds also recently bought and sold shares of VRDN. Hennion & Walsh Asset Management Inc. raised its stake in shares of Viridian Therapeutics by 62.9% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 178,855 shares of the company’s stock valued at $2,327,000 after acquiring an additional 69,035 shares during the period. Great Point Partners LLC raised its position in Viridian Therapeutics by 50.0% in the 3rd quarter. Great Point Partners LLC now owns 750,000 shares of the company’s stock worth $17,062,000 after purchasing an additional 250,000 shares during the period. Rhumbline Advisers grew its stake in shares of Viridian Therapeutics by 34.5% during the second quarter. Rhumbline Advisers now owns 90,826 shares of the company’s stock valued at $1,182,000 after buying an additional 23,305 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Viridian Therapeutics by 7.8% in the first quarter. Vanguard Group Inc. now owns 3,234,279 shares of the company’s stock worth $56,632,000 after buying an additional 233,331 shares during the period. Finally, Candriam S.C.A. lifted its stake in shares of Viridian Therapeutics by 167.8% during the 2nd quarter. Candriam S.C.A. now owns 749,804 shares of the company’s stock worth $9,754,000 after acquiring an additional 469,804 shares during the last quarter.

Viridian Therapeutics Stock Performance

Shares of NASDAQ:VRDN opened at $21.00 on Tuesday. The company has a quick ratio of 18.55, a current ratio of 18.55 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of -4.87 and a beta of 1.10. The firm has a 50 day moving average of $22.72 and a 200 day moving average of $17.45. Viridian Therapeutics, Inc. has a 52 week low of $11.40 and a 52 week high of $27.20.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. The company had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.08 million. On average, sell-side analysts predict that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current fiscal year.

Insider Activity

In other Viridian Therapeutics news, COO Thomas W. Beetham bought 5,000 shares of Viridian Therapeutics stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average cost of $23.41 per share, with a total value of $117,050.00. Following the transaction, the chief operating officer now directly owns 6,000 shares of the company’s stock, valued at approximately $140,460. This represents a 500.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Fairmount Funds Management Llc acquired 1,600,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was bought at an average cost of $18.75 per share, with a total value of $30,000,000.00. Following the completion of the transaction, the director now directly owns 3,445,813 shares in the company, valued at $64,608,993.75. The trade was a 86.68 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 1,626,400 shares of company stock worth $30,616,312. Corporate insiders own 0.65% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on VRDN. TD Cowen began coverage on Viridian Therapeutics in a research report on Monday, November 25th. They issued a “buy” rating on the stock. The Goldman Sachs Group raised their price target on shares of Viridian Therapeutics from $25.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $44.00 price objective on shares of Viridian Therapeutics in a research report on Thursday, September 19th. HC Wainwright lifted their price target on shares of Viridian Therapeutics from $27.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Oppenheimer reissued an “outperform” rating and issued a $28.00 price objective (down previously from $31.00) on shares of Viridian Therapeutics in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Viridian Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $36.33.

Viridian Therapeutics Company Profile

Viridian Therapeutics, Inc, a biotechnology company, discover and develops treatments for serious and rare diseases. The company's product pipeline includes VRDN-001, a monoclonal antibody targeting insulin-like growth factor-1 receptor that is in Phase 3 clinical trial for the treatment of thyroid eye disease (TED); and VRDN-003, a next generation IGF-1R humanized monoclonal antibodies targeting IGF-1R and incorporating half-life extension technology for the treatment of TED.