Hudson Bay Capital Management LP Raises Stake in Viridian Therapeutics, Inc. $VRDN

Hudson Bay Capital Management LP raised its stake in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 46.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 175,251 shares of the company’s stock after buying an additional 55,689 shares during the quarter. Hudson Bay Capital Management LP owned about 0.18% of Viridian Therapeutics worth $3,782,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Millennium Management LLC grew its stake in Viridian Therapeutics by 129.3% during the third quarter. Millennium Management LLC now owns 136,280 shares of the company’s stock valued at $2,941,000 after acquiring an additional 76,844 shares in the last quarter. Larson Financial Group LLC purchased a new stake in Viridian Therapeutics in the 3rd quarter worth approximately $52,000. Bank of America Corp DE boosted its holdings in Viridian Therapeutics by 6.5% in the 3rd quarter. Bank of America Corp DE now owns 245,759 shares of the company’s stock valued at $5,303,000 after purchasing an additional 14,915 shares during the period. Wellington Management Group LLP grew its position in shares of Viridian Therapeutics by 314.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,122,532 shares of the company’s stock valued at $24,224,000 after purchasing an additional 851,989 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Viridian Therapeutics by 10.0% in the third quarter. Sei Investments Co. now owns 11,556 shares of the company’s stock worth $249,000 after purchasing an additional 1,046 shares during the period.

Insider Transactions at Viridian Therapeutics

In other Viridian Therapeutics news, insider Jennifer Tousignant sold 2,272 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $31.16, for a total value of $70,795.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.58% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on VRDN shares. Evercore restated an “outperform” rating and issued a $44.00 target price on shares of Viridian Therapeutics in a research note on Tuesday, January 20th. Wedbush reaffirmed an “outperform” rating and issued a $44.00 target price on shares of Viridian Therapeutics in a research note on Wednesday, March 11th. Royal Bank Of Canada decreased their price target on shares of Viridian Therapeutics from $45.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. Truist Financial reduced their target price on Viridian Therapeutics from $41.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Finally, Wells Fargo & Company upped their price objective on Viridian Therapeutics from $26.00 to $29.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 3rd. Thirteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $42.21.

Viridian Therapeutics Stock Performance

Shares of VRDN stock opened at $26.98 on Friday. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of -8.20 and a beta of 1.00. The stock has a fifty day moving average of $30.24 and a 200 day moving average of $27.54. Viridian Therapeutics, Inc. has a 52 week low of $9.90 and a 52 week high of $34.29. The company has a quick ratio of 12.65, a current ratio of 12.65 and a debt-to-equity ratio of 0.08.

Viridian Therapeutics (NASDAQ:VRDN) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($1.08) EPS for the quarter, missing the consensus estimate of ($0.90) by ($0.18). The company had revenue of $0.13 million during the quarter, compared to the consensus estimate of $15.75 million. Viridian Therapeutics had a negative return on equity of 83.25% and a negative net margin of 483.57%. As a group, research analysts expect that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current year.

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.