Wellington Management Group LLP Purchases 49,808 Shares of Viridian Therapeutics, Inc. $VRDN

Wellington Management Group LLP raised its position in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 1.6% in the second quarter, HoldingsChannel reports. The firm owned 3,128,362 shares of the company’s stock after buying an additional 49,808 shares during the quarter. Wellington Management Group LLP’s holdings in Viridian Therapeutics were worth $57,468,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new position in shares of Viridian Therapeutics in the 2nd quarter worth approximately $387,000. Bank of America Corp DE purchased a new stake in Viridian Therapeutics during the second quarter valued at approximately $17,348,000. Man Group plc purchased a new stake in Viridian Therapeutics during the second quarter valued at approximately $197,000. Jupiter Topco LLC bought a new position in Viridian Therapeutics in the second quarter worth approximately $505,000. Finally, Elmind Capital LP bought a new position in Viridian Therapeutics in the second quarter worth approximately $18,093,182.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on VRDN shares. Needham & Company LLC reissued a “buy” rating and set a $32.00 price objective on shares of Viridian Therapeutics in a research report on Monday, June 29th. Wedbush lifted their target price on Viridian Therapeutics from $32.00 to $43.00 and gave the company an “outperform” rating in a research report on Tuesday, June 30th. Stifel Nicolaus set a $39.00 price target on Viridian Therapeutics in a report on Wednesday, May 13th. Wall Street Zen cut Viridian Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Finally, Evercore set a $26.00 price objective on Viridian Therapeutics in a research note on Friday, May 15th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.54.

Insider Transactions at Viridian Therapeutics

In other Viridian Therapeutics news, insider Jennifer Tousignant sold 14,212 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $24.50, for a total transaction of $348,194.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.40% of the company’s stock.

Viridian Therapeutics Stock Performance

VRDN opened at $22.96 on Friday. The company has a 50 day simple moving average of $21.01 and a two-hundred day simple moving average of $20.52. The company has a debt-to-equity ratio of 0.43, a current ratio of 16.95 and a quick ratio of 16.95. The firm has a market cap of $2.60 billion, a P/E ratio of -6.81 and a beta of 0.97. Viridian Therapeutics, Inc. has a 1-year low of $13.18 and a 1-year high of $34.29.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.02). Viridian Therapeutics had a negative net margin of 505.86% and a negative return on equity of 72.97%. The firm had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.06 million. Equities analysts forecast that Viridian Therapeutics, Inc. will post -4.07 earnings per share 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.