Knott David M Jr Invests $488,000 in Solid Biosciences Inc. (NASDAQ:SLDB)

Key Points

• Knott David M Jr invested approximately $488,000 in Solid Biosciences Inc. by acquiring 132,000 shares, representing about 0.17% ownership of the company at the end of the last quarter.
• Several hedge funds have increased their positions in Solid Biosciences, with notable gains from JPMorgan Chase & Co. and Dimensional Fund Advisors LP, indicating growing institutional interest.
• Solid Biosciences recently reported a quarterly earnings miss, with a loss of ($0.59) EPS, falling short of analysts' expectations, while the stock has a consensus buy rating and a target price around $15.10.

Knott David M Jr purchased a new position in Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 132,000 shares of the company's stock, valued at approximately $488,000. Knott David M Jr owned about 0.17% of Solid Biosciences at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Vestal Point Capital LP boosted its position in Solid Biosciences by 1.8% in the 4th quarter. Vestal Point Capital LP now owns 2,850,000 shares of the company's stock valued at $11,400,000 after buying an additional 50,000 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Solid Biosciences by 9,393.8% during the fourth quarter. JPMorgan Chase & Co. now owns 955,932 shares of the company's stock valued at $3,824,000 after acquiring an additional 945,863 shares in the last quarter. Redmile Group LLC bought a new stake in shares of Solid Biosciences during the fourth quarter valued at approximately $2,461,000. Geode Capital Management LLC boosted its holdings in shares of Solid Biosciences by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 509,802 shares of the company's stock valued at $2,040,000 after purchasing an additional 4,932 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Solid Biosciences by 270.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 264,069 shares of the company's stock worth $1,056,000 after purchasing an additional 192,714 shares in the last quarter. 81.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SLDB has been the subject of a number of research analyst reports. JMP Securities reaffirmed a "market outperform" rating and set a $15.00 target price on shares of Solid Biosciences in a research report on Friday, June 6th. Piper Sandler lowered their price objective on shares of Solid Biosciences from $20.00 to $17.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Chardan Capital cut their target price on shares of Solid Biosciences from $16.00 to $15.00 and set a "buy" rating on the stock in a research report on Monday, May 19th. Wedbush dropped their price objective on shares of Solid Biosciences from $18.00 to $17.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Finally, HC Wainwright reissued a "buy" rating and set a $20.00 price objective on shares of Solid Biosciences in a report on Tuesday, June 17th. Ten equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $15.10.

Solid Biosciences Stock Up 1.6%

NASDAQ SLDB opened at $6.29 on Monday. Solid Biosciences Inc. has a 52 week low of $2.41 and a 52 week high of $10.37. The company has a 50 day moving average price of $5.40 and a 200 day moving average price of $4.34. The firm has a market cap of $487.54 million, a PE ratio of -2.10 and a beta of 2.44.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.06). On average, equities research analysts anticipate that Solid Biosciences Inc. will post -2.84 earnings per share for the current fiscal year.

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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