Goldman Sachs Group Inc. Buys 43,910 Shares of Solid Biosciences Inc. $SLDB

Key Points

• Goldman Sachs Group Inc. increased its stake in Solid Biosciences Inc. by 32.2%, acquiring an additional 43,910 shares in the first quarter.
• Other institutional investors also showed strong interest, with notable increases in stakes from firms like CWM LLC (up 15,188.5%) and China Universal Asset Management (up 80.7%).
• Solid Biosciences reported earnings of ($0.42) EPS for the quarter, surpassing analyst expectations, and several firms have given it a Buy rating with target prices ranging from $13.00 to $20.00.

Goldman Sachs Group Inc. increased its stake in Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) by 32.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 180,137 shares of the company's stock after buying an additional 43,910 shares during the quarter. Goldman Sachs Group Inc. owned about 0.23% of Solid Biosciences worth $667,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CWM LLC increased its stake in 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 period. Ground Swell Capital LLC purchased a new stake in Solid Biosciences in the first quarter worth $42,000. China Universal Asset Management Co. Ltd. increased its stake in Solid Biosciences by 80.7% in the first quarter. China Universal Asset Management Co. Ltd. now owns 15,308 shares of the company's stock worth $57,000 after purchasing an additional 6,836 shares during the period. Sfmg LLC purchased a new stake in Solid Biosciences in the first quarter worth $93,000. Finally, Virtu Financial LLC purchased a new stake in Solid Biosciences in the first quarter worth $95,000. Hedge funds and other institutional investors own 81.46% of the company's stock.

Solid Biosciences Price Performance

SLDB opened at $6.24 on Thursday. The business's 50-day moving average is $5.96 and its two-hundred day moving average is $4.63. Solid Biosciences Inc. has a 1 year low of $2.41 and a 1 year high of $7.97. The firm has a market capitalization of $485.90 million, a PE ratio of -2.23 and a beta of 2.54.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last posted its earnings results 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. As a group, sell-side analysts expect that Solid Biosciences Inc. will post -2.84 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SLDB shares. JPMorgan Chase & Co. reduced their target price on Solid Biosciences from $15.00 to $13.00 and set an "overweight" rating on the stock in a research note on Thursday, August 14th. Citigroup started coverage on Solid Biosciences in a research note on Thursday, June 26th. They issued a "buy" rating and a $14.00 target price on the stock. HC Wainwright reiterated a "buy" rating and issued a $20.00 target price on shares of Solid Biosciences in a research note on Tuesday, June 17th. JMP Securities reiterated a "market outperform" rating and issued a $15.00 target price on shares of Solid Biosciences in a research note on Friday, June 6th. Finally, Wedbush cut their price target on Solid Biosciences from $17.00 to $14.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating and ten have given a Buy rating to the stock. Based on data from MarketBeat.com, Solid Biosciences currently has an average rating of "Buy" and an average price target 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.

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