Simplify Asset Management Inc. Cuts Position in Viridian Therapeutics, Inc. $VRDN

Simplify Asset Management Inc. cut its holdings in Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 45.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,231 shares of the company’s stock after selling 47,300 shares during the period. Simplify Asset Management Inc.’s holdings in Viridian Therapeutics were worth $1,100,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of VRDN. Hudson Bay Capital Management LP boosted its position in Viridian Therapeutics by 46.6% in the third quarter. Hudson Bay Capital Management LP now owns 175,251 shares of the company’s stock worth $3,782,000 after purchasing an additional 55,689 shares during the last quarter. Jennison Associates LLC purchased a new stake in shares of Viridian Therapeutics during the 4th quarter valued at $35,915,000. Knott David M Jr increased its position in shares of Viridian Therapeutics by 27.4% during the 3rd quarter. Knott David M Jr now owns 116,574 shares of the company’s stock valued at $2,516,000 after purchasing an additional 25,091 shares during the last quarter. Perceptive Advisors LLC raised its stake in shares of Viridian Therapeutics by 108.1% during the 4th 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 period. Finally, Vanguard Group Inc. raised its stake in shares of Viridian Therapeutics by 29.6% during the 4th quarter. Vanguard Group Inc. now owns 5,612,144 shares of the company’s stock worth $174,650,000 after purchasing an additional 1,280,161 shares during the period.

Insider Buying and Selling

In other Viridian Therapeutics news, Director Fairmount Funds Management Llc acquired 1,176,470 shares of Viridian Therapeutics stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $19,999,990.00. Following the purchase, the director owned 5,090,928 shares of the company’s stock, valued at approximately $86,545,776. This represents a 30.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.40% of the company’s stock.

Viridian Therapeutics Price Performance

Shares of NASDAQ:VRDN opened at $19.40 on Friday. The firm has a market capitalization of $2.00 billion, a PE ratio of -5.84 and a beta of 0.90. The company has a quick ratio of 15.15, a current ratio of 15.15 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average price of $16.69 and a two-hundred day moving average price of $23.80. Viridian Therapeutics, Inc. has a twelve month low of $13.18 and a twelve month high of $34.29.

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

Analyst Ratings Changes

VRDN has been the topic of a number of research analyst reports. Truist Financial boosted their price target on shares of Viridian Therapeutics from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday. Wells Fargo & Company upgraded shares of Viridian Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $20.00 to $31.00 in a report on Monday, June 29th. Wedbush lifted their price objective on shares of Viridian Therapeutics from $32.00 to $43.00 and gave the stock an “outperform” rating in a research report on Tuesday. Weiss Ratings cut shares of Viridian Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday. Finally, Wall Street Zen raised shares of Viridian Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday, June 14th. Thirteen investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.79.

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.