Bryce Point Capital LLC Buys New Shares in Viridian Therapeutics, Inc. (NASDAQ:VRDN)

Bryce Point Capital LLC purchased a new position in shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 44,063 shares of the company’s stock, valued at approximately $845,000.

Several other large investors have also added to or reduced their stakes in the company. Lord Abbett & CO. LLC purchased a new position in shares of Viridian Therapeutics in the third quarter worth about $8,917,000. JPMorgan Chase & Co. raised its position in Viridian Therapeutics by 218.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 400,351 shares of the company’s stock worth $9,108,000 after buying an additional 274,641 shares during the last quarter. Barclays PLC lifted its stake in Viridian Therapeutics by 113.1% during the 3rd quarter. Barclays PLC now owns 125,397 shares of the company’s stock valued at $2,851,000 after acquiring an additional 66,550 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Viridian Therapeutics by 1,603.4% in the 3rd quarter. Principal Financial Group Inc. now owns 172,810 shares of the company’s stock valued at $3,931,000 after acquiring an additional 162,665 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Viridian Therapeutics in the third quarter worth $660,000.

Viridian Therapeutics Price Performance

Shares of NASDAQ VRDN opened at $13.07 on Thursday. 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 firm has a fifty day moving average of $16.44 and a 200 day moving average of $19.54. The firm has a market cap of $1.07 billion, a PE ratio of -3.03 and a beta of 1.05. Viridian Therapeutics, Inc. has a one year low of $11.40 and a one year high of $27.20.

Viridian Therapeutics (NASDAQ:VRDN) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.81) earnings per share for the quarter, topping the consensus estimate of ($1.05) by $0.24. Viridian Therapeutics had a negative net margin of 85,127.16% and a negative return on equity of 70.12%. The firm had revenue of $0.07 million during the quarter, compared to the consensus estimate of $0.05 million. As a group, research analysts predict that Viridian Therapeutics, Inc. will post -4.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.