Birchview Capital LP Makes New $476,000 Investment in Solid Biosciences Inc. $SLDB

Key Points

• Birchview Capital LP has acquired a new stake in Solid Biosciences Inc., purchasing 128,768 shares valued at approximately $476,000, representing about 0.17% of the company's total shares.
• A significant 81.46% of Solid Biosciences stock is currently held by institutional investors and hedge funds, indicating strong institutional support for the company.
• Analysts have set a consensus price target of $15.00 for Solid Biosciences stock, with varying ratings but a prevailing sentiment of a "Buy" recommendation.

Birchview Capital LP bought a new stake in shares of Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 128,768 shares of the company's stock, valued at approximately $476,000. Birchview Capital LP owned about 0.17% of Solid Biosciences as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. MPM Bioimpact LLC bought a new stake in Solid Biosciences in the 1st quarter worth $6,077,000. Nantahala Capital Management LLC bought a new stake in Solid Biosciences in the 1st quarter worth $1,041,000. Apis Capital Advisors LLC bought a new stake in Solid Biosciences in the 1st quarter worth $407,000. Siren L.L.C. grew its holdings in Solid Biosciences by 97.8% in the 1st quarter. Siren L.L.C. now owns 7,415,905 shares of the company's stock worth $27,439,000 after acquiring an additional 3,666,864 shares during the last quarter. Finally, Jump Financial LLC bought a new stake in Solid Biosciences in the 1st quarter worth $282,000. Institutional investors own 81.46% of the company's stock.

Solid Biosciences Price Performance

NASDAQ:SLDB traded down $0.06 during mid-day trading on Friday, hitting $5.50. 1,143,050 shares of the company's stock were exchanged, compared to its average volume of 813,463. Solid Biosciences Inc. has a one year low of $2.41 and a one year high of $8.65. The business has a fifty day moving average price of $5.91 and a 200 day moving average price of $4.65. The company has a market cap of $428.29 million, a PE ratio of -1.96 and a beta of 2.54.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.51) by $0.09. On average, equities analysts forecast that Solid Biosciences Inc. will post -2.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SLDB. Cantor Fitzgerald set a $16.00 price target on shares of Solid Biosciences and gave the stock an "overweight" rating in a report on Monday, July 21st. Wedbush cut their price target on shares of Solid Biosciences from $17.00 to $14.00 and set an "outperform" rating on the stock in a report on Wednesday, August 13th. Citigroup started coverage on shares of Solid Biosciences in a report on Thursday, June 26th. They issued a "buy" rating and a $14.00 price target on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $15.00 target price on shares of Solid Biosciences in a research note on Friday, June 6th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $20.00 target price on shares of Solid Biosciences in a research note on Tuesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $15.00.

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.