Dimensional Fund Advisors LP Acquires 277,051 Shares of Solid Biosciences Inc. $SLDB

Key Points

• Dimensional Fund Advisors increased its Solid Biosciences stake by 40.8%, purchasing 277,051 additional shares to own 956,135 shares valued at approximately $6.88 million. Institutional investors collectively hold 81.46% of SLDB.
• Solid Biosciences reported a quarterly loss of $0.38 per share, beating analyst expectations for a $0.46 loss. The company is forecast to post a full-year loss of $1.90 per share.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $17.11, compared with the stock’s reported price of $8.56.

Dimensional Fund Advisors LP grew its holdings in shares of Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) by 40.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 956,135 shares of the company's stock after buying an additional 277,051 shares during the quarter. Dimensional Fund Advisors LP owned 0.97% of Solid Biosciences worth $6,877,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Siren L.L.C. grew its position in Solid Biosciences by 3.7% in the fourth quarter. Siren L.L.C. now owns 7,690,405 shares of the company's stock worth $43,374,000 after acquiring an additional 274,500 shares in the last quarter. Vestal Point Capital LP raised its position in Solid Biosciences by 95.5% during the fourth quarter. Vestal Point Capital LP now owns 5,815,000 shares of the company's stock valued at $32,797,000 after purchasing an additional 2,840,000 shares during the period. Armistice Capital LLC raised its position in Solid Biosciences by 179.1% during the fourth quarter. Armistice Capital LLC now owns 2,612,000 shares of the company's stock valued at $14,732,000 after purchasing an additional 1,676,000 shares during the period. Nantahala Capital Management LLC lifted its stake in shares of Solid Biosciences by 505.4% in the 2nd quarter. Nantahala Capital Management LLC now owns 1,703,336 shares of the company's stock valued at $8,295,000 after purchasing an additional 1,421,968 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its stake in shares of Solid Biosciences by 2.6% in the 3rd quarter. Alyeska Investment Group L.P. now owns 1,682,805 shares of the company's stock valued at $10,383,000 after purchasing an additional 41,984 shares during the last quarter. Institutional investors own 81.46% of the company's stock.

Solid Biosciences Stock Performance

Solid Biosciences stock opened at $8.56 on Tuesday. The company has a 50 day moving average price of $8.59 and a 200-day moving average price of $7.58. Solid Biosciences Inc. has a fifty-two week low of $3.79 and a fifty-two week high of $11.45. The company has a market capitalization of $899.83 million, a PE ratio of -4.48 and a beta of 2.41.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.46) by $0.08. On average, analysts forecast that Solid Biosciences Inc. will post -1.9 earnings per share for the current year.

Analyst Ratings Changes

SLDB has been the subject of a number of recent research reports. Truist Financial upgraded Solid Biosciences to a "strong-buy" rating in a report on Monday, April 27th. Wedbush decreased their price target on Solid Biosciences from $17.00 to $16.00 and set an "outperform" rating on the stock in a report on Wednesday, May 13th. Piper Sandler restated an "overweight" rating and issued a $18.00 price target (up from $17.00) on shares of Solid Biosciences in a research report on Wednesday, May 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Solid Biosciences in a research note on Friday, July 17th. Finally, Wall Street Zen upgraded shares of Solid Biosciences from a "strong sell" rating to a "sell" rating in a research report on Saturday, July 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $17.11.

Solid Biosciences Company Profile

Solid Biosciences Inc is a clinical‐stage biotechnology company focused on the development of therapies for Duchenne muscular dystrophy (DMD), a rare genetic disorder characterized by progressive muscle degeneration. The company's primary approach centers on gene replacement and gene editing technologies designed to restore functional dystrophin protein in patients lacking this critical muscle‐stabilizing protein.

Solid's lead investigational therapy, SGT‐001, is a micro‐dystrophin gene therapy candidate engineered to deliver a shortened but functional form of the dystrophin gene using an adeno‐associated virus (AAV) vector.

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