Eversept Partners LP Lowers Stock Holdings in Viridian Therapeutics, Inc. $VRDN

Eversept Partners LP reduced its stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 60.0% during the first quarter, Holdings Channel.com reports. The fund owned 713,269 shares of the company’s stock after selling 1,068,966 shares during the quarter. Eversept Partners LP’s holdings in Viridian Therapeutics were worth $13,952,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Rice Hall James & Associates LLC boosted its holdings in shares of Viridian Therapeutics by 1.6% in the first quarter. Rice Hall James & Associates LLC now owns 898,611 shares of the company’s stock valued at $17,577,000 after purchasing an additional 14,079 shares during the period. Entropy Technologies LP bought a new position in Viridian Therapeutics in the first quarter worth approximately $224,000. Renaissance Technologies LLC purchased a new position in Viridian Therapeutics during the 1st quarter worth $3,973,000. Knott David M Jr increased its holdings in Viridian Therapeutics by 24.8% during the 1st quarter. Knott David M Jr now owns 181,000 shares of the company’s stock worth $3,540,000 after purchasing an additional 36,000 shares during the period. Finally, Sei Investments Co. raised its position in Viridian Therapeutics by 117.0% during the 1st quarter. Sei Investments Co. now owns 65,777 shares of the company’s stock valued at $1,287,000 after purchasing an additional 35,459 shares in the last quarter.

Insider Activity

In related news, Director Fairmount Funds Management Llc purchased 1,176,470 shares of Viridian Therapeutics stock in a transaction dated Monday, May 11th. The stock was purchased at an average cost of $17.00 per share, with a total value of $19,999,990.00. Following the transaction, the director owned 5,090,928 shares in the company, valued at approximately $86,545,776. The trade was a 30.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wall Street Zen upgraded Viridian Therapeutics from a “strong sell” rating to a “sell” rating in a report on Monday, July 20th. Truist Financial raised their price target on Viridian Therapeutics from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. HC Wainwright decreased their price objective on Viridian Therapeutics from $34.00 to $22.00 and set a “buy” rating for the company in a report on Tuesday, March 31st. Royal Bank Of Canada lifted their price objective on Viridian Therapeutics from $34.00 to $35.00 and gave the company an “outperform” rating in a report on Tuesday, June 30th. Finally, Weiss Ratings lowered shares of Viridian Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 30th. Thirteen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Viridian Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $38.79.

Viridian Therapeutics Stock Performance

Shares of VRDN stock opened at $19.70 on Tuesday. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of -5.93 and a beta of 0.90. The company’s 50 day moving average is $17.77 and its 200 day moving average is $22.33. The company has a quick ratio of 15.15, a current ratio of 15.15 and a debt-to-equity ratio of 0.10. Viridian Therapeutics, Inc. has a 52-week low of $13.18 and a 52-week high of $34.29.

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

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.