Pictet Asset Management Holding SA Decreases Stake in Viridian Therapeutics, Inc. $VRDN

Pictet Asset Management Holding SA reduced its position in Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 66.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 314,031 shares of the company’s stock after selling 608,736 shares during the period. Pictet Asset Management Holding SA’s holdings in Viridian Therapeutics were worth $6,142,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. MetLife Investment Management LLC boosted its position in Viridian Therapeutics by 0.8% during the fourth quarter. MetLife Investment Management LLC now owns 43,985 shares of the company’s stock worth $1,369,000 after purchasing an additional 356 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Viridian Therapeutics by 0.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,360 shares of the company’s stock valued at $4,337,000 after buying an additional 380 shares in the last quarter. US Bancorp DE boosted its holdings in Viridian Therapeutics by 23.2% in the 3rd quarter. US Bancorp DE now owns 2,457 shares of the company’s stock worth $53,000 after buying an additional 463 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Viridian Therapeutics by 1.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,276 shares of the company’s stock worth $669,000 after buying an additional 876 shares during the period. Finally, Virtus Investment Advisers LLC grew its stake in Viridian Therapeutics by 13.4% in the 4th quarter. Virtus Investment Advisers LLC now owns 8,233 shares of the company’s stock valued at $256,000 after buying an additional 971 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on VRDN shares. Stifel Nicolaus set a $39.00 target price on shares of Viridian Therapeutics in a report on Wednesday, May 13th. Evercore set a $26.00 price target on Viridian Therapeutics in a research report on Friday, May 15th. The Goldman Sachs Group reiterated a “buy” rating and set a $39.00 price objective on shares of Viridian Therapeutics in a research note on Tuesday. Truist Financial increased their price objective on Viridian Therapeutics from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Weiss Ratings downgraded Viridian Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday. Thirteen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $38.79.

Viridian Therapeutics Stock Performance

NASDAQ VRDN opened at $19.40 on Friday. The company’s 50 day simple moving average is $16.69 and its two-hundred day simple moving average is $23.80. The company has a debt-to-equity ratio of 0.10, a current ratio of 15.15 and a quick ratio of 15.15. Viridian Therapeutics, Inc. has a 1 year low of $13.18 and a 1 year high of $34.29. The stock has a market capitalization of $2.00 billion, a PE ratio of -5.84 and a beta of 0.90.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.90) EPS for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.16. The firm had revenue of $0.14 million during the quarter, compared to analyst estimates of $0.04 million. Viridian Therapeutics had a negative net margin of 490.31% and a negative return on equity of 80.19%. The business’s revenue for the quarter was up 95.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.87) EPS. Analysts predict that Viridian Therapeutics, Inc. will post -3.87 earnings per share for the current fiscal year.

Insider Transactions at Viridian Therapeutics

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc acquired 1,176,470 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average price of $17.00 per share, with a total value of $19,999,990.00. Following the completion of the purchase, the director owned 5,090,928 shares of the company’s stock, valued at approximately $86,545,776. This represents a 30.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.40% of the company’s stock.

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.