Bank of New York Mellon Corp Grows Holdings in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Bank of New York Mellon Corp grew its stake in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 0.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 198,177 shares of the company’s stock after purchasing an additional 1,655 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.24% of Viridian Therapeutics worth $2,671,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Foresite Capital Management VI LLC purchased a new stake in Viridian Therapeutics in the 4th quarter valued at about $38,000. Amalgamated Bank boosted its holdings in shares of Viridian Therapeutics by 49.7% in the first quarter. Amalgamated Bank now owns 2,531 shares of the company’s stock valued at $34,000 after purchasing an additional 840 shares during the period. Summit Investment Advisors Inc. boosted its holdings in shares of Viridian Therapeutics by 24.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,646 shares of the company’s stock valued at $147,000 after purchasing an additional 1,516 shares during the period. GAMMA Investing LLC grew its stake in Viridian Therapeutics by 3,892.9% in the first quarter. GAMMA Investing LLC now owns 8,425 shares of the company’s stock worth $114,000 after purchasing an additional 8,214 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in Viridian Therapeutics during the 4th quarter worth $164,000.

Wall Street Analyst Weigh In

VRDN has been the topic of several research reports. The Goldman Sachs Group cut their price target on Viridian Therapeutics from $31.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. JMP Securities cut their target price on shares of Viridian Therapeutics from $42.00 to $38.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 7th. HC Wainwright reaffirmed a “buy” rating and issued a $34.00 price target on shares of Viridian Therapeutics in a research report on Wednesday, April 23rd. Needham & Company LLC reiterated a “buy” rating and set a $36.00 price objective on shares of Viridian Therapeutics in a research note on Tuesday, May 20th. Finally, Royal Bank Of Canada reduced their price objective on shares of Viridian Therapeutics from $46.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.56.

Viridian Therapeutics Stock Down 1.2%

Shares of VRDN stock opened at $17.28 on Monday. The stock’s fifty day moving average price is $15.25 and its 200 day moving average price is $15.22. The company has a debt-to-equity ratio of 0.05, a current ratio of 19.49 and a quick ratio of 19.49. Viridian Therapeutics, Inc. has a 1-year low of $9.90 and a 1-year high of $27.20. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -4.49 and a beta of 0.39.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.87) EPS for the quarter, beating the consensus estimate of ($0.95) by $0.08. Viridian Therapeutics had a negative net margin of 102,092.39% and a negative return on equity of 70.61%. The firm had revenue of $0.07 million during the quarter, compared to analyst estimates of $0.16 million. Viridian Therapeutics’s revenue was up .0% compared to the same quarter last year. On average, research 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.