Viridian Therapeutics, Inc. $VRDN Shares Bought by Yiheng Capital Management L.P.

Yiheng Capital Management L.P. lifted its stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 91.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 400,464 shares of the company’s stock after purchasing an additional 191,729 shares during the quarter. Viridian Therapeutics accounts for approximately 2.5% of Yiheng Capital Management L.P.’s investment portfolio, making the stock its 10th largest holding. Yiheng Capital Management L.P.’s holdings in Viridian Therapeutics were worth $7,357,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Perceptive Advisors LLC increased its stake in 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 acquiring an additional 1,580,303 shares during the period. Morgan Stanley lifted its position in shares of Viridian Therapeutics by 805.6% during the 4th quarter. Morgan Stanley now owns 1,738,225 shares of the company’s stock valued at $54,094,000 after acquiring an additional 1,546,284 shares during the period. Avoro Capital Advisors LLC bought a new stake in shares of Viridian Therapeutics during the 4th quarter valued at $46,680,000. Parkman Healthcare Partners LLC acquired a new stake in shares of Viridian Therapeutics during the 2nd quarter worth $25,306,000. Finally, Vanguard Group Inc. grew its holdings 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 in the last quarter.

Viridian Therapeutics Price Performance

Shares of NASDAQ:VRDN opened at $23.08 on Monday. The company has a fifty day moving average of $20.56 and a 200-day moving average of $20.69. The company has a market capitalization of $2.61 billion, a PE ratio of -6.85 and a beta of 0.91. The company has a debt-to-equity ratio of 0.43, a quick ratio of 16.95 and a current ratio of 16.95. Viridian Therapeutics, Inc. has a 52-week low of $13.18 and a 52-week high of $34.29.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.02). The firm had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.06 million. Viridian Therapeutics had a negative net margin of 505.86% and a negative return on equity of 72.97%. On average, equities analysts predict that Viridian Therapeutics, Inc. will post -4.07 EPS for the current fiscal year.

Insider Activity

In related news, insider Jennifer Tousignant sold 14,212 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $24.50, for a total value of $348,194.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on VRDN shares. Wedbush boosted their price target on Viridian Therapeutics from $32.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, June 30th. Wall Street Zen downgraded shares of Viridian Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Evercore set a $26.00 target price on shares of Viridian Therapeutics in a report on Friday, May 15th. Truist Financial boosted their target price on shares of Viridian Therapeutics from $38.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Stifel Nicolaus set a $39.00 price target on shares of Viridian Therapeutics in a report on Wednesday, May 13th. Twelve analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $38.54.

Viridian Therapeutics 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.