Fairmount Funds Management Llc Buys 454,545 Shares of Viridian Therapeutics (NASDAQ:VRDN) Stock

Viridian Therapeutics, Inc. (NASDAQ:VRDN) Director Fairmount Funds Management Llc acquired 454,545 shares of the stock in a transaction dated Thursday, October 23rd. The stock was acquired at an average cost of $22.00 per share, with a total value of $9,999,990.00. Following the transaction, the director directly owned 3,914,458 shares in the company, valued at approximately $86,118,076. This represents a 13.14% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Viridian Therapeutics Stock Up 2.8%

Viridian Therapeutics stock opened at $23.17 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 11.01 and a quick ratio of 11.01. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of -6.05 and a beta of 0.49. Viridian Therapeutics, Inc. has a 1-year low of $9.90 and a 1-year high of $27.20. The business has a fifty day moving average price of $20.36 and a 200-day moving average price of $16.90.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($1.00) EPS for the quarter, hitting analysts’ consensus estimates of ($1.00). Viridian Therapeutics had a negative return on equity of 78.95% and a negative net margin of 112,806.88%.The company had revenue of $0.08 million during the quarter, compared to analysts’ expectations of $0.05 million. During the same quarter in the previous year, the firm posted ($0.81) EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. Equities research analysts forecast that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Viridian Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of VRDN. Amalgamated Bank increased its stake in shares of Viridian Therapeutics by 49.7% in the 1st quarter. Amalgamated Bank now owns 2,531 shares of the company’s stock valued at $34,000 after purchasing an additional 840 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Viridian Therapeutics by 332.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,940 shares of the company’s stock valued at $42,000 after purchasing an additional 1,491 shares in the last quarter. Sei Investments Co. purchased a new position in shares of Viridian Therapeutics in the 2nd quarter valued at about $147,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Viridian Therapeutics in the 2nd quarter valued at about $170,000. Finally, Creative Planning purchased a new position in shares of Viridian Therapeutics in the 2nd quarter valued at about $179,000.

Wall Street Analysts Forecast Growth

A number of analysts have commented on VRDN shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Viridian Therapeutics in a research report on Wednesday, October 8th. Jefferies Financial Group started coverage on Viridian Therapeutics in a research report on Monday, August 25th. They set a “buy” rating and a $44.00 price target for the company. Needham & Company LLC lowered their price target on Viridian Therapeutics from $36.00 to $34.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Oppenheimer lifted their price target on Viridian Therapeutics from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. Finally, Royal Bank Of Canada reduced their price objective on Viridian Therapeutics from $45.00 to $41.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Viridian Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $35.38.

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.