Avoro Capital Advisors LLC Acquires New Holdings in Viridian Therapeutics, Inc. $VRDN

Avoro Capital Advisors LLC acquired a new position in Viridian Therapeutics, Inc. (NASDAQ:VRDN) during the 4th quarter, HoldingsChannel reports. The fund acquired 1,500,000 shares of the company’s stock, valued at approximately $46,680,000. Viridian Therapeutics accounts for about 0.4% of Avoro Capital Advisors LLC’s investment portfolio, making the stock its 25th largest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Viridian Therapeutics by 29.6% during the fourth quarter. Vanguard Group Inc. now owns 5,612,144 shares of the company’s stock worth $174,650,000 after buying an additional 1,280,161 shares during the last quarter. Commodore Capital LP increased its stake in Viridian Therapeutics by 35.4% in the 2nd quarter. Commodore Capital LP now owns 4,875,000 shares of the company’s stock worth $68,152,000 after acquiring an additional 1,275,000 shares during the last quarter. State Street Corp increased its stake in Viridian Therapeutics by 35.7% in the fourth quarter. State Street Corp now owns 3,466,560 shares of the company’s stock valued at $107,879,000 after acquiring an additional 912,394 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Viridian Therapeutics by 42.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,439,414 shares of the company’s stock worth $107,036,000 after purchasing an additional 1,021,310 shares during the period. Finally, Perceptive Advisors LLC lifted 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 worth $94,689,000 after purchasing an additional 1,580,303 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on VRDN. Wells Fargo & Company decreased their price objective on shares of Viridian Therapeutics from $29.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Viridian Therapeutics in a report on Monday, April 20th. Wall Street Zen raised Viridian Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday, June 14th. Wedbush reduced their target price on Viridian Therapeutics from $37.00 to $31.00 and set an “outperform” rating on the stock in a report on Wednesday, April 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $32.00 target price on shares of Viridian Therapeutics in a research report on Tuesday, May 5th. Twelve equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.14.

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 shares were bought at an average price of $17.00 per share, with a total value of $19,999,990.00. Following the completion of the acquisition, the director owned 5,090,928 shares in the company, valued at $86,545,776. This represents a 30.05% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.40% of the company’s stock.

Viridian Therapeutics Stock Performance

Shares of NASDAQ VRDN opened at $16.63 on Friday. The firm’s 50 day moving average price is $16.01 and its 200-day moving average price is $24.76. Viridian Therapeutics, Inc. has a 52-week low of $13.18 and a 52-week high of $34.29. The company has a debt-to-equity ratio of 0.10, a quick ratio of 15.15 and a current ratio of 15.15. The company has a market cap of $1.71 billion, a PE ratio of -5.01 and a beta of 0.90.

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

Viridian Therapeutics Company 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.