Alliancebernstein L.P. Buys 84,255 Shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Alliancebernstein L.P. lifted its stake in Viridian Therapeutics, Inc. (NASDAQ:VRDN) by 3.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,286,994 shares of the company’s stock after acquiring an additional 84,255 shares during the period. Alliancebernstein L.P. owned 2.89% of Viridian Therapeutics worth $43,842,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VRDN. Charles Schwab Investment Management Inc. raised its position in shares of Viridian Therapeutics by 6.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 516,213 shares of the company’s stock valued at $11,744,000 after purchasing an additional 32,292 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Viridian Therapeutics by 17.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,997 shares of the company’s stock worth $318,000 after acquiring an additional 2,036 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Viridian Therapeutics by 29.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 89,496 shares of the company’s stock worth $2,036,000 after acquiring an additional 20,166 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Viridian Therapeutics during the third quarter valued at about $788,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Viridian Therapeutics in the third quarter valued at about $660,000.

Analyst Upgrades and Downgrades

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

Viridian Therapeutics Stock Down 5.2 %

NASDAQ VRDN opened at $11.99 on Friday. Viridian Therapeutics, Inc. has a 1-year low of $11.31 and a 1-year high of $27.20. The company has a current ratio of 18.55, a quick ratio of 18.55 and a debt-to-equity ratio of 0.04. The stock’s 50 day moving average is $16.18 and its two-hundred day moving average is $19.42. The company has a market capitalization of $977.01 million, a price-to-earnings ratio of -2.78 and a beta of 0.81.

Viridian Therapeutics (NASDAQ:VRDN) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.24. The firm had revenue of $0.07 million for the quarter, compared to analysts’ expectations of $0.05 million. Viridian Therapeutics had a negative return on equity of 70.12% and a negative net margin of 85,127.16%. Equities analysts forecast that Viridian Therapeutics, Inc. will post -4.03 earnings per share for the current fiscal year.

Viridian Therapeutics Company 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.