425,000 Shares in Viridian Therapeutics, Inc. (NASDAQ:VRDN) Acquired by Parkman Healthcare Partners LLC

Parkman Healthcare Partners LLC purchased a new stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 425,000 shares of the company’s stock, valued at approximately $9,669,000. Viridian Therapeutics makes up 1.2% of Parkman Healthcare Partners LLC’s holdings, making the stock its 29th biggest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Quest Partners LLC lifted its stake in Viridian Therapeutics by 344.0% during the second quarter. Quest Partners LLC now owns 6,056 shares of the company’s stock worth $79,000 after purchasing an additional 4,692 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Viridian Therapeutics during the third quarter worth $149,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Viridian Therapeutics by 24.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,961 shares of the company’s stock valued at $156,000 after buying an additional 2,359 shares in the last quarter. AlphaCentric Advisors LLC increased its position in shares of Viridian Therapeutics by 108.3% during the 2nd quarter. AlphaCentric Advisors LLC now owns 12,500 shares of the company’s stock worth $163,000 after purchasing an additional 6,500 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Viridian Therapeutics by 14.7% in the second quarter. Arizona State Retirement System now owns 13,178 shares of the company’s stock valued at $171,000 after acquiring an additional 1,688 shares during the period.

Viridian Therapeutics Stock Performance

Shares of VRDN stock opened at $20.09 on Wednesday. The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04. Viridian Therapeutics, Inc. has a 52 week low of $11.40 and a 52 week high of $27.20. The company’s fifty day simple moving average is $22.72 and its 200-day simple moving average is $17.50. The company has a market cap of $1.59 billion, a PE ratio of -4.66 and a beta of 1.04.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Tuesday, November 12th. The company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.04). Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. The firm had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.08 million. As a group, equities research analysts anticipate that Viridian Therapeutics, Inc. will post -4.03 EPS for the current year.

Insiders Place Their Bets

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc acquired 1,600,000 shares of Viridian Therapeutics stock in a transaction dated Friday, September 13th. The stock was bought at an average cost of $18.75 per share, with a total value of $30,000,000.00. Following the completion of the transaction, the director now owns 3,445,813 shares of the company’s stock, valued at $64,608,993.75. The trade was a 86.68 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen F. Mahoney purchased 21,400 shares of the stock in a transaction on Friday, September 27th. The stock was acquired at an average cost of $23.33 per share, for a total transaction of $499,262.00. Following the acquisition, the chief executive officer now directly owns 21,400 shares in the company, valued at approximately $499,262. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 1,626,400 shares of company stock valued at $30,616,312 over the last quarter. Insiders own 0.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on VRDN shares. Oppenheimer reaffirmed an “outperform” rating and set a $28.00 price target (down previously from $31.00) on shares of Viridian Therapeutics in a research report on Monday, August 12th. HC Wainwright raised their target price on shares of Viridian Therapeutics from $27.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. BTIG Research increased their price objective on shares of Viridian Therapeutics from $56.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Needham & Company LLC restated a “buy” rating and set a $38.00 target price on shares of Viridian Therapeutics in a research report on Monday, November 25th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $44.00 target price on shares of Viridian Therapeutics in a report on Thursday, September 19th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.33.

About Viridian Therapeutics

Viridian Therapeutics, Inc, a biotechnology company, discover and develops treatments for serious and rare diseases. The company's product pipeline includes VRDN-001, a monoclonal antibody targeting insulin-like growth factor-1 receptor that is in Phase 3 clinical trial for the treatment of thyroid eye disease (TED); and VRDN-003, a next generation IGF-1R humanized monoclonal antibodies targeting IGF-1R and incorporating half-life extension technology for the treatment of TED.