Teachers Retirement System of The State of Kentucky Takes Position in Viridian Therapeutics, Inc. $VRDN

Teachers Retirement System of The State of Kentucky bought a new stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 38,465 shares of the company’s stock, valued at approximately $752,000.

A number of other institutional investors have also added to or reduced their stakes in VRDN. Perceptive Advisors LLC grew its stake in Viridian Therapeutics by 108.1% in the fourth quarter. Perceptive Advisors LLC now owns 3,042,703 shares of the company’s stock valued at $94,689,000 after acquiring an additional 1,580,303 shares during the period. Morgan Stanley raised its position in shares of Viridian Therapeutics by 805.6% during the fourth quarter. Morgan Stanley now owns 1,738,225 shares of the company’s stock worth $54,094,000 after purchasing an additional 1,546,284 shares during the period. Avoro Capital Advisors LLC bought a new position in shares of Viridian Therapeutics in the 4th quarter worth $46,680,000. Vanguard Group Inc. grew its position in Viridian Therapeutics by 29.6% in the 4th quarter. Vanguard Group Inc. now owns 5,612,144 shares of the company’s stock valued at $174,650,000 after purchasing an additional 1,280,161 shares during the period. Finally, Commodore Capital LP grew its position in Viridian Therapeutics by 35.4% in the 2nd quarter. Commodore Capital LP now owns 4,875,000 shares of the company’s stock valued at $68,152,000 after purchasing an additional 1,275,000 shares during the period.

Insiders Place Their Bets

In other news, Director Fairmount Funds Management Llc acquired 1,176,470 shares of Viridian Therapeutics stock in a transaction on Monday, May 11th. The stock was acquired 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 of the company’s stock, valued at approximately $86,545,776. This trade represents a 30.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.40% of the company’s stock.

Viridian Therapeutics Trading Down 5.4%

NASDAQ VRDN opened at $18.03 on Friday. The company has a current ratio of 15.15, a quick ratio of 15.15 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $17.47 and a 200 day simple moving average of $22.91. Viridian Therapeutics, Inc. has a 12 month low of $13.18 and a 12 month high of $34.29. The firm has a market capitalization of $1.86 billion, a P/E ratio of -5.43 and a beta of 0.90.

Viridian Therapeutics (NASDAQ:VRDN) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.90) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.16. The firm had revenue of $0.14 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.87) EPS. On average, analysts predict that Viridian Therapeutics, Inc. will post -3.87 EPS for the current fiscal year.

Analyst Ratings Changes

VRDN has been the topic of several research reports. Wedbush upped their price objective on shares of Viridian Therapeutics from $32.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday, June 30th. Wells Fargo & Company upgraded shares of Viridian Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $20.00 to $31.00 in a report on Monday, June 29th. HC Wainwright decreased their target price on shares of Viridian Therapeutics from $34.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday, March 31st. The Goldman Sachs Group restated a “buy” rating and issued a $39.00 target price on shares of Viridian Therapeutics in a report on Tuesday, June 30th. Finally, Evercore set a $26.00 price target on Viridian Therapeutics in a research note on Friday, May 15th. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Viridian Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $38.79.

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.