Solid Biosciences Inc. $SLDB Shares Bought by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. significantly increased its stake in Solid Biosciences by 285% during the first quarter, now owning approximately 8.68% of the company, valued at around $24.9 million.
• Solid Biosciences stock is currently trading at $5.56, with a 52-week range of $2.41 to $8.74, and a market capitalization of $432.96 million.
• Despite recent challenges, Solid Biosciences reported beating earnings estimates for the last quarter, posting a loss of ($0.42) per share, which was better than the expected ($0.51).

Adage Capital Partners GP L.L.C. increased its holdings in shares of Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) by 285.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,729,484 shares of the company's stock after acquiring an additional 4,981,400 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 8.68% of Solid Biosciences worth $24,899,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. CWM LLC raised its holdings in shares of Solid Biosciences by 15,188.5% during the 1st quarter. CWM LLC now owns 7,950 shares of the company's stock worth $29,000 after acquiring an additional 7,898 shares during the period. Corton Capital Inc. acquired a new stake in shares of Solid Biosciences during the 4th quarter worth approximately $41,000. Ground Swell Capital LLC acquired a new stake in shares of Solid Biosciences during the 1st quarter worth approximately $42,000. Wells Fargo & Company MN increased its holdings in shares of Solid Biosciences by 29.4% during the 4th quarter. Wells Fargo & Company MN now owns 13,138 shares of the company's stock worth $53,000 after buying an additional 2,986 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of Solid Biosciences by 80.7% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 15,308 shares of the company's stock worth $57,000 after buying an additional 6,836 shares during the last quarter. 81.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SLDB has been the subject of a number of recent analyst reports. JMP Securities restated a "market outperform" rating and set a $15.00 price target on shares of Solid Biosciences in a report on Friday, June 6th. HC Wainwright reissued a "buy" rating and set a $20.00 target price on shares of Solid Biosciences in a research note on Tuesday, June 17th. JPMorgan Chase & Co. dropped their target price on Solid Biosciences from $15.00 to $13.00 and set an "overweight" rating for the company in a research report on Thursday, August 14th. Wedbush decreased their price target on shares of Solid Biosciences from $17.00 to $14.00 and set an "outperform" rating for the company in a research report on Wednesday, August 13th. Finally, Chardan Capital restated a "buy" rating and issued a $15.00 price target on shares of Solid Biosciences in a research note on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, Solid Biosciences presently has a consensus rating of "Buy" and an average price target of $15.00.

Solid Biosciences Price Performance

Shares of NASDAQ SLDB traded down $0.06 during midday trading on Friday, hitting $5.50. 1,143,050 shares of the company's stock were exchanged, compared to its average volume of 814,326. The firm's fifty day simple moving average is $5.91 and its 200-day simple moving average is $4.63. Solid Biosciences Inc. has a twelve month low of $2.41 and a twelve month high of $8.65.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.42) earnings per share for the quarter, beating analysts' consensus estimates of ($0.51) by $0.09. As a group, equities research analysts forecast that Solid Biosciences Inc. will post -2.84 EPS for the current fiscal year.

Solid Biosciences Company 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.