Pictet Asset Management Holding SA Sells 608,736 Shares of Viridian Therapeutics, Inc. $VRDN

Pictet Asset Management Holding SA decreased its holdings in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 66.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 314,031 shares of the company’s stock after selling 608,736 shares during the period. Pictet Asset Management Holding SA owned approximately 0.31% of Viridian Therapeutics worth $6,142,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Viridian Therapeutics in the 4th quarter worth about $36,000. Larson Financial Group LLC acquired a new position in Viridian Therapeutics during the 3rd quarter valued at about $52,000. US Bancorp DE boosted its stake in Viridian Therapeutics by 23.2% during the 3rd quarter. US Bancorp DE now owns 2,457 shares of the company’s stock valued at $53,000 after purchasing an additional 463 shares during the last quarter. Persistent Asset Partners Ltd bought a new stake in Viridian Therapeutics during the 4th quarter worth approximately $176,000. Finally, Ensign Peak Advisors Inc bought a new stake in Viridian Therapeutics during the 4th quarter worth approximately $201,000.

Analysts Set New Price Targets

VRDN has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 target price on shares of Viridian Therapeutics in a research report on Monday, June 29th. Royal Bank Of Canada increased their price target on Viridian Therapeutics from $34.00 to $35.00 and gave the company an “outperform” rating in a research report on Tuesday. Wedbush raised their price objective on Viridian Therapeutics from $32.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, June 30th. Truist Financial lifted their price objective on shares of Viridian Therapeutics from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Wells Fargo & Company upgraded shares of Viridian Therapeutics from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $20.00 to $31.00 in a research note on Monday, June 29th. Thirteen research 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.79.

Viridian Therapeutics Price Performance

VRDN opened at $19.40 on Friday. Viridian Therapeutics, Inc. has a fifty-two week low of $13.18 and a fifty-two week high of $34.29. The firm has a 50-day moving average of $16.69 and a 200 day moving average of $23.80. 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 firm has a market cap of $2.00 billion, a P/E ratio of -5.84 and a beta of 0.90.

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

Insider Activity at Viridian Therapeutics

In related news, Director Fairmount Funds Management Llc purchased 1,176,470 shares of the 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 acquisition, the director owned 5,090,928 shares of the company’s stock, valued at $86,545,776. This trade represents a 30.05% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company 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.