XTX Topco Ltd Purchases Shares of 40,930 Solid Biosciences Inc. $SLDB

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 position in Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 40,930 shares of the company's stock, valued at approximately $151,000. XTX Topco Ltd owned about 0.05% of Solid Biosciences at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Vestal Point Capital LP lifted its position in Solid Biosciences by 1.8% during the 4th quarter. Vestal Point Capital LP now owns 2,850,000 shares of the company's stock worth $11,400,000 after acquiring an additional 50,000 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Solid Biosciences by 9,393.8% in the 4th quarter. JPMorgan Chase & Co. now owns 955,932 shares of the company's stock valued at $3,824,000 after buying an additional 945,863 shares during the last quarter. Redmile Group LLC bought a new position in Solid Biosciences in the 4th quarter worth approximately $2,461,000. Geode Capital Management LLC raised its stake in Solid Biosciences by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 509,802 shares of the company's stock valued at $2,040,000 after purchasing an additional 4,932 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Solid Biosciences by 270.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 264,069 shares of the company's stock valued at $1,056,000 after purchasing an additional 192,714 shares during the period. Institutional investors own 81.46% of the company's stock.

Solid Biosciences Stock Performance

Shares of SLDB traded down $0.01 during trading hours on Monday, reaching $6.11. The stock had a trading volume of 309,323 shares, compared to its average volume of 1,932,369. Solid Biosciences Inc. has a 12 month low of $2.41 and a 12 month high of $10.37. The stock has a market capitalization of $475.40 million, a PE ratio of -2.19 and a beta of 2.44. The company's 50-day moving average is $5.62 and its two-hundred day moving average is $4.45.

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

Analysts Set New Price Targets

Several equities analysts have commented on SLDB shares. HC Wainwright reaffirmed a "buy" rating and issued a $20.00 price target on shares of Solid Biosciences in a report on Tuesday, June 17th. Citigroup assumed coverage on Solid Biosciences in a research note on Thursday, June 26th. They issued a "buy" rating and a $14.00 target price for the company. JPMorgan Chase & Co. decreased their price target on shares of Solid Biosciences from $15.00 to $13.00 and set an "overweight" rating on the stock in a research note on Thursday. Wedbush dropped their price objective on shares of Solid Biosciences from $17.00 to $14.00 and set an "outperform" rating for the company in a research note on Wednesday, August 13th. Finally, Chardan Capital reaffirmed a "buy" rating and set a $15.00 price objective on shares of Solid Biosciences in a report on Thursday. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $15.00.

Solid Biosciences Profile

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.