Wellington Management Group LLP Cuts Stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Wellington Management Group LLP cut its position in Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 16.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 235,987 shares of the company’s stock after selling 48,057 shares during the period. Wellington Management Group LLP owned approximately 0.30% of Viridian Therapeutics worth $5,369,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quest Partners LLC increased its position in shares of Viridian Therapeutics by 344.0% during the second quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock valued at $79,000 after acquiring an additional 4,692 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Viridian Therapeutics during the 3rd quarter valued at $149,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Viridian Therapeutics in the 3rd quarter worth $208,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Viridian Therapeutics by 24.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock worth $156,000 after purchasing an additional 2,359 shares during the last quarter. Finally, AlphaCentric Advisors LLC lifted its holdings in shares of Viridian Therapeutics by 108.3% during the second quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock valued at $163,000 after purchasing an additional 6,500 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. BTIG Research boosted their target price on Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Needham & Company LLC restated a “buy” rating and set a $38.00 price objective on shares of Viridian Therapeutics in a research report on Monday, November 25th. HC Wainwright reaffirmed a “buy” rating and issued a $34.00 target price on shares of Viridian Therapeutics in a research report on Monday. TD Cowen started coverage on shares of Viridian Therapeutics in a research note on Monday, November 25th. They set a “buy” rating for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $44.00 price target on shares of Viridian Therapeutics in a research note on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.33.

Insider Activity at Viridian Therapeutics

In other news, COO Thomas W. Beetham bought 5,000 shares of the stock in a transaction dated Friday, September 27th. The stock was purchased at an average price of $23.41 per share, for a total transaction of $117,050.00. Following the acquisition, the chief operating officer now owns 6,000 shares of the company’s stock, valued at $140,460. The trade was a 500.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Stephen F. Mahoney purchased 21,400 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were purchased at an average price of $23.33 per share, for a total transaction of $499,262.00. Following the completion of the acquisition, the chief executive officer now directly owns 21,400 shares in the company, valued at $499,262. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.65% of the stock is owned by insiders.

Viridian Therapeutics Trading Up 20.7 %

Shares of Viridian Therapeutics stock opened at $21.54 on Tuesday. Viridian Therapeutics, Inc. has a twelve month low of $11.40 and a twelve month high of $27.20. 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 business has a 50-day moving average price of $22.00 and a 200-day moving average price of $17.99. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -5.00 and a beta of 1.04.

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

Viridian Therapeutics 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.