ADAR1 Capital Management LLC cut its stake in Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) by 76.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the stock. Redmile Group LLC grew its position in shares of Solid Biosciences by 228.2% in the first quarter. Redmile Group LLC now owns 2,019,171 shares of the company's stock valued at $7,471,000 after purchasing an additional 1,403,925 shares in the last quarter. Birchview Capital LP bought a new stake in Solid Biosciences during the first quarter valued at $476,000. MPM Bioimpact LLC bought a new stake in Solid Biosciences during the first quarter valued at $6,077,000. Nantahala Capital Management LLC bought a new stake in Solid Biosciences during the first quarter valued at $1,041,000. Finally, Apis Capital Advisors LLC bought a new stake in Solid Biosciences during the first quarter valued at $407,000. 81.46% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
SLDB has been the subject of several research analyst reports. Cantor Fitzgerald set a $16.00 price objective on Solid Biosciences and gave the company an "overweight" rating in a research note on Monday, July 21st. Wedbush lowered their target price on Solid Biosciences from $17.00 to $14.00 and set an "outperform" rating for the company in a research note on Wednesday, August 13th. Citigroup assumed coverage on Solid Biosciences in a report on Thursday, June 26th. They set a "buy" rating and a $14.00 price target on the stock. Barclays reduced their target price on Solid Biosciences from $15.00 to $10.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Finally, HC Wainwright reiterated a "buy" rating and set a $20.00 target price on shares of Solid Biosciences in a report on Tuesday, June 17th. One research analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $15.00.
Check Out Our Latest Research Report on Solid Biosciences
Solid Biosciences Trading Down 3.9%
SLDB stock traded down $0.21 during midday trading on Monday, hitting $5.29. The company's stock had a trading volume of 298,821 shares, compared to its average volume of 1,831,651. The company has a market cap of $411.62 million, a PE ratio of -1.88 and a beta of 2.54. Solid Biosciences Inc. has a 12 month low of $2.41 and a 12 month high of $8.45. The firm's 50-day moving average is $5.91 and its 200-day moving average is $4.63.
Solid Biosciences (NASDAQ:SLDB - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.09. Analysts expect that Solid Biosciences Inc. will post -2.84 earnings per share for the current year.
Solid Biosciences Company Profile
(
Free Report)
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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