Apis Capital Advisors LLC Makes New Investment in Solid Biosciences Inc. $SLDB

Key Points

• Apis Capital Advisors LLC has purchased 110,000 shares of Solid Biosciences Inc., valued at approximately $407,000, representing about 0.14% ownership of the company.
• Solid Biosciences recently reported earnings of ($0.42) per share, exceeding analysts' estimates of ($0.51), with expectations of -2.84 EPS for the current year.
• Major institutional investors now control 81.46% of Solid Biosciences' stock, indicating strong interest from the market.

Apis Capital Advisors LLC purchased a new position in Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 110,000 shares of the company's stock, valued at approximately $407,000. Apis Capital Advisors LLC owned approximately 0.14% of Solid Biosciences at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Renaissance Technologies LLC raised its position in Solid Biosciences by 12.7% in the fourth quarter. Renaissance Technologies LLC now owns 82,493 shares of the company's stock worth $330,000 after acquiring an additional 9,281 shares in the last quarter. Bank of America Corp DE raised its position in Solid Biosciences by 87.9% in the fourth quarter. Bank of America Corp DE now owns 83,471 shares of the company's stock worth $334,000 after acquiring an additional 39,056 shares in the last quarter. Allianz Asset Management GmbH bought a new stake in Solid Biosciences in the first quarter worth about $100,000. Knott David M Jr bought a new stake in Solid Biosciences in the first quarter worth about $488,000. Finally, XTX Topco Ltd bought a new stake in Solid Biosciences in the first quarter worth about $151,000. 81.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SLDB has been the topic of several research reports. JMP Securities reiterated a "market outperform" rating and issued a $15.00 price target on shares of Solid Biosciences in a research report on Friday, June 6th. JPMorgan Chase & Co. cut their price objective on Solid Biosciences from $15.00 to $13.00 and set an "overweight" rating on the stock in a report on Thursday, August 14th. Citigroup initiated coverage on Solid Biosciences in a report on Thursday, June 26th. They set a "buy" rating and a $14.00 price objective on the stock. Cantor Fitzgerald set a $16.00 price objective on Solid Biosciences and gave the stock an "overweight" rating in a report on Monday, July 21st. Finally, Wedbush cut their price objective on Solid Biosciences from $17.00 to $14.00 and set an "outperform" rating on the stock in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $15.00.

Solid Biosciences Trading Down 3.3%

NASDAQ:SLDB traded down $0.19 on Thursday, hitting $5.56. 659,567 shares of the company's stock traded hands, compared to its average volume of 1,845,062. Solid Biosciences Inc. has a 1 year low of $2.41 and a 1 year high of $8.74. The firm has a 50-day moving average price of $5.88 and a 200-day moving average price of $4.64. The company has a market cap of $432.96 million, a PE ratio of -1.99 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 the consensus estimate of ($0.51) by $0.09. On average, research analysts forecast that Solid Biosciences Inc. will post -2.84 EPS for the current fiscal year.

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.