Jump Financial LLC Purchases Shares of 76,318 Solid Biosciences Inc. $SLDB

Key Points

• Jump Financial LLC has acquired a new stake in Solid Biosciences Inc., purchasing 76,318 shares valued at approximately $282,000, representing 0.10% of the company's stock.
• Solid Biosciences has seen substantial interest from institutional investors, with 81.46% of its stock currently owned by such entities.
• The company recently reported earnings of ($0.42) EPS, exceeding analysts' expectations, and analysts project a price target averaging around $15.00 per share.

Jump Financial LLC acquired a new stake in Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 76,318 shares of the company's stock, valued at approximately $282,000. Jump Financial LLC owned 0.10% of Solid Biosciences as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in SLDB. CWM LLC increased its stake in Solid Biosciences by 15,188.5% in the 1st quarter. CWM LLC now owns 7,950 shares of the company's stock valued at $29,000 after buying an additional 7,898 shares during the period. Corton Capital Inc. acquired a new position in shares of Solid Biosciences during the 4th quarter worth $41,000. Ground Swell Capital LLC acquired a new position in shares of Solid Biosciences during the 1st quarter worth $42,000. Wells Fargo & Company MN increased its stake in shares of Solid Biosciences by 29.4% during the 4th quarter. Wells Fargo & Company MN now owns 13,138 shares of the company's stock worth $53,000 after purchasing an additional 2,986 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake in shares of Solid Biosciences by 80.7% during the 1st 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 last quarter. Institutional investors and hedge funds own 81.46% of the company's stock.

Solid Biosciences Price Performance

Shares of NASDAQ SLDB traded down $0.17 during trading hours on Tuesday, hitting $4.96. 304,196 shares of the stock were exchanged, compared to its average volume of 1,827,484. The company's 50 day moving average is $5.92 and its 200 day moving average is $4.63. The firm has a market capitalization of $386.24 million, a P/E ratio of -1.77 and a beta of 2.54. Solid Biosciences Inc. has a one year low of $2.41 and a one year high of $8.23.

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

Analysts Set New Price Targets

Several research analysts have recently commented on SLDB shares. Wedbush dropped their price target on shares of Solid Biosciences from $17.00 to $14.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 13th. Piper Sandler dropped their price target on shares of Solid Biosciences from $20.00 to $17.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. HC Wainwright restated a "buy" rating and set a $20.00 price target on shares of Solid Biosciences in a research note on Tuesday, June 17th. Barclays dropped their price target on shares of Solid Biosciences from $15.00 to $10.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Finally, JMP Securities restated a "market outperform" rating and set a $15.00 price target on shares of Solid Biosciences in a research note on Friday, June 6th. One research analyst has rated the stock with a Strong Buy rating and ten have given a Buy rating to the company's stock. According to data from MarketBeat, Solid Biosciences has an average rating of "Buy" and an average price target of $15.00.

About Solid Biosciences

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.