Jennison Associates LLC Takes Position in Viridian Therapeutics, Inc. $VRDN

Jennison Associates LLC bought a new stake in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,154,080 shares of the company’s stock, valued at approximately $35,915,000.

A number of other institutional investors have also recently modified their holdings of VRDN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Viridian Therapeutics by 1.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company’s stock valued at $669,000 after acquiring an additional 876 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Viridian Therapeutics by 33.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,231,092 shares of the company’s stock valued at $16,595,000 after acquiring an additional 310,998 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Viridian Therapeutics by 12.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 130,570 shares of the company’s stock valued at $1,760,000 after acquiring an additional 14,788 shares during the period. Envestnet Asset Management Inc. bought a new stake in shares of Viridian Therapeutics during the 2nd quarter valued at $187,000. Finally, Creative Planning bought a new stake in shares of Viridian Therapeutics during the 2nd quarter valued at $179,000.

Viridian Therapeutics Price Performance

Shares of VRDN opened at $13.42 on Friday. Viridian Therapeutics, Inc. has a 12-month low of $11.76 and a 12-month high of $34.29. The business has a 50-day simple moving average of $22.20 and a two-hundred day simple moving average of $26.97. The company has a quick ratio of 12.65, a current ratio of 12.65 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.38 billion, a PE ratio of -4.08 and a beta of 0.82.

Viridian Therapeutics (NASDAQ:VRDN) last issued its earnings results on Thursday, February 26th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.18). Viridian Therapeutics had a negative return on equity of 83.25% and a negative net margin of 483.57%.The firm had revenue of $0.13 million during the quarter, compared to analyst estimates of $15.75 million. Analysts anticipate that Viridian Therapeutics, Inc. will post -3.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. HC Wainwright cut their target price on Viridian Therapeutics from $34.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday, March 31st. Wells Fargo & Company dropped their price objective on Viridian Therapeutics from $29.00 to $20.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 31st. UBS Group began coverage on Viridian Therapeutics in a research report on Wednesday, January 7th. They set a “buy” rating and a $50.00 price objective for the company. Wedbush dropped their price objective on Viridian Therapeutics from $37.00 to $31.00 and set an “outperform” rating for the company in a research report on Wednesday, April 8th. Finally, Royal Bank Of Canada dropped their price objective on Viridian Therapeutics from $42.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. Thirteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Viridian Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.07.

Viridian Therapeutics 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.