Raymond James Financial Inc. Makes New $6.02 Million Investment in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Raymond James Financial Inc. purchased a new stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 313,787 shares of the company’s stock, valued at approximately $6,015,000. Raymond James Financial Inc. owned about 0.40% of Viridian Therapeutics at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. R Squared Ltd bought a new position in Viridian Therapeutics in the fourth quarter worth about $26,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Viridian Therapeutics in the 3rd quarter worth approximately $149,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Viridian Therapeutics during the 3rd quarter valued at approximately $208,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Viridian Therapeutics by 17.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,997 shares of the company’s stock worth $318,000 after buying an additional 2,036 shares during the last quarter. Finally, Arizona State Retirement System increased its position in Viridian Therapeutics by 19.5% in the fourth quarter. Arizona State Retirement System now owns 16,596 shares of the company’s stock worth $318,000 after buying an additional 2,708 shares during the period.

Analyst Ratings Changes

Several equities analysts have recently issued reports on VRDN shares. TD Cowen began coverage on shares of Viridian Therapeutics in a report on Monday, November 25th. They set a “buy” rating for the company. Needham & Company LLC reissued a “buy” rating and set a $38.00 target price on shares of Viridian Therapeutics in a research note on Tuesday, January 7th. HC Wainwright restated a “buy” rating and issued a $34.00 price target on shares of Viridian Therapeutics in a research note on Monday, December 16th. Royal Bank of Canada increased their price objective on Viridian Therapeutics from $44.00 to $47.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $27.00 target price (down previously from $37.00) on shares of Viridian Therapeutics in a research note on Thursday, December 19th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.70.

Viridian Therapeutics Stock Up 1.3 %

Shares of VRDN stock opened at $15.46 on Tuesday. Viridian Therapeutics, Inc. has a 1 year low of $11.40 and a 1 year high of $27.20. The company has a debt-to-equity ratio of 0.04, a quick ratio of 18.55 and a current ratio of 18.55. The business’s fifty day moving average is $16.98 and its 200-day moving average is $19.77. The stock has a market cap of $1.26 billion, a PE ratio of -3.59 and a beta of 1.05.

Viridian Therapeutics (NASDAQ:VRDN) last released its earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.24. 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 $0.07 million for the quarter, compared to analyst estimates of $0.05 million. Equities analysts expect that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current fiscal year.

Viridian Therapeutics Profile

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.