40,930 Shares in Solid Biosciences Inc. (NASDAQ:SLDB) Purchased by XTX Topco Ltd

Key Points

• XTX Topco Ltd acquired a new stake in Solid Biosciences Inc., purchasing 40,930 shares valued at approximately $151,000, representing about 0.05% of the company.
• Analysts have adjusted their price targets for SLDB, with Wedbush lowering their target from $17.00 to $14.00 while maintaining an "outperform" rating and Citigroup initiating coverage with a "buy" rating and a target of $14.00.
• Solid Biosciences reported a quarterly EPS of ($0.42), exceeding the consensus estimate of (0.51), signaling a positive outlook despite a market capitalization of $517.77 million.

XTX Topco Ltd purchased a new stake in shares of Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 40,930 shares of the company's stock, valued at approximately $151,000. XTX Topco Ltd owned approximately 0.05% of Solid Biosciences at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Vestal Point Capital LP raised its position in Solid Biosciences by 1.8% during the fourth quarter. Vestal Point Capital LP now owns 2,850,000 shares of the company's stock valued at $11,400,000 after acquiring an additional 50,000 shares in the last quarter. JPMorgan Chase & Co. raised its position in Solid Biosciences by 9,393.8% during the fourth quarter. JPMorgan Chase & Co. now owns 955,932 shares of the company's stock valued at $3,824,000 after acquiring an additional 945,863 shares in the last quarter. Redmile Group LLC purchased a new position in Solid Biosciences during the fourth quarter valued at approximately $2,461,000. Geode Capital Management LLC raised its position in Solid Biosciences by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 509,802 shares of the company's stock valued at $2,040,000 after acquiring an additional 4,932 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Solid Biosciences by 270.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 264,069 shares of the company's stock valued at $1,056,000 after acquiring an additional 192,714 shares in the last quarter. 81.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SLDB has been the subject of several recent research reports. Wedbush reduced their price target on Solid Biosciences from $17.00 to $14.00 and set an "outperform" rating for the company in a research report on Wednesday. Citigroup assumed coverage on Solid Biosciences in a research report on Thursday, June 26th. They issued a "buy" rating and a $14.00 price objective for the company. Piper Sandler cut their price objective on Solid Biosciences from $20.00 to $17.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Barclays cut their price objective on Solid Biosciences from $15.00 to $10.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Finally, HC Wainwright restated a "buy" rating and issued a $20.00 price objective on shares of Solid Biosciences in a research report on Tuesday, June 17th. Ten research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $14.80.

Solid Biosciences Stock Performance

Shares of SLDB opened at $6.68 on Thursday. Solid Biosciences Inc. has a one year low of $2.41 and a one year high of $10.37. The stock has a market capitalization of $517.77 million, a price-to-earnings ratio of -2.39 and a beta of 2.44. The stock has a 50 day moving average price of $5.55 and a 200 day moving average price of $4.39.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.51) by $0.09. On average, analysts predict that Solid Biosciences Inc. will post -2.84 earnings per share for the current year.

About Solid Biosciences

Solid Biosciences Inc, a life science company, develops therapies for neuromuscular and cardiac diseases in the United States. The company's lead product candidate is SGT-003, a gene transfer candidate for the treatment of Duchenne muscular dystrophy; and SGT-501 to treat Catecholaminergic polymorphic ventricular tachycardia.

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