ADAR1 Capital Management LLC Reduces Stock Position in Solid Biosciences Inc. $SLDB

Key Points

• ADAR1 Capital Management LLC significantly reduced its stake in Solid Biosciences by 76.8%, selling 114,424 shares and retaining 34,479 shares worth $128,000.
• Other institutional investors have increased their ownership in Solid Biosciences, with CWM LLC raising its stake by 15,188.5% and buying nearly 8,000 additional shares.
• Solid Biosciences recently reported a quarterly earnings per share of ($0.42), beating estimates, while various analysts have set price targets ranging from $14.00 to $20.00 for the stock.

ADAR1 Capital Management LLC lessened its stake in shares of Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) by 76.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 34,479 shares of the company's stock after selling 114,424 shares during the quarter. ADAR1 Capital Management LLC's holdings in Solid Biosciences were worth $128,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. CWM LLC grew its stake in shares of Solid Biosciences by 15,188.5% in the first quarter. CWM LLC now owns 7,950 shares of the company's stock worth $29,000 after purchasing an additional 7,898 shares during the last quarter. Corton Capital Inc. bought a new stake in shares of Solid Biosciences in the fourth quarter worth $41,000. Ground Swell Capital LLC bought a new stake in shares of Solid Biosciences in the first quarter worth $42,000. Invesco Ltd. bought a new stake in shares of Solid Biosciences in the fourth quarter worth $49,000. Finally, Wells Fargo & Company MN grew its stake in shares of Solid Biosciences by 29.4% in the fourth quarter. Wells Fargo & Company MN now owns 13,138 shares of the company's stock worth $53,000 after purchasing an additional 2,986 shares during the last quarter. Institutional investors own 81.46% of the company's stock.

Analyst Ratings Changes

SLDB has been the topic of several analyst reports. Cantor Fitzgerald set a $16.00 price objective on shares of Solid Biosciences and gave the stock an "overweight" rating in a research note on Monday, July 21st. Chardan Capital restated a "buy" rating and issued a $15.00 target price on shares of Solid Biosciences in a report on Thursday, August 14th. Wall Street Zen upgraded shares of Solid Biosciences from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Piper Sandler dropped their price objective on shares of Solid Biosciences from $20.00 to $17.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Finally, Citigroup initiated coverage on shares of Solid Biosciences in a report on Thursday, June 26th. They issued a "buy" rating and a $14.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating and ten have given a Buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $15.00.

Solid Biosciences Price Performance

Shares of Solid Biosciences stock traded down $0.06 on Friday, reaching $5.50. 1,143,050 shares of the company traded hands, compared to its average volume of 813,463. Solid Biosciences Inc. has a 52 week low of $2.41 and a 52 week high of $8.65. The company has a 50 day moving average of $5.91 and a 200 day moving average of $4.65. The firm has a market capitalization of $428.28 million, a PE ratio of -1.96 and a beta of 2.54.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last released its 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, analysts anticipate 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.