132,000 Shares in Solid Biosciences Inc. (NASDAQ:SLDB) Purchased by Knott David M Jr

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

Other large investors have also modified their holdings of the company. CWM LLC grew its holdings in Solid Biosciences by 15,188.5% during 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 last quarter. Corton Capital Inc. acquired a new position in Solid Biosciences in the fourth quarter valued at $41,000. Invesco Ltd. purchased a new position in Solid Biosciences in the fourth quarter valued at about $49,000. Sei Investments Co. purchased a new position in Solid Biosciences in the fourth quarter valued at about $52,000. Finally, Wells Fargo & Company MN increased its position in shares of Solid Biosciences by 29.4% during the fourth quarter. Wells Fargo & Company MN now owns 13,138 shares of the company's stock worth $53,000 after acquiring an additional 2,986 shares during the last quarter. 81.46% of the stock is owned by hedge funds and other institutional investors.

Solid Biosciences Price Performance

NASDAQ:SLDB traded down $0.07 during trading hours on Friday, reaching $6.11. The company's stock had a trading volume of 541,669 shares, compared to its average volume of 1,940,192. The company has a market cap of $475.40 million, a price-to-earnings ratio of -2.19 and a beta of 2.44. Solid Biosciences Inc. has a one year low of $2.41 and a one year high of $10.37. The business's 50-day moving average is $5.59 and its 200-day moving average is $4.41.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. HC Wainwright reaffirmed a "buy" rating and set a $20.00 target price on shares of Solid Biosciences in a research report on Tuesday, June 17th. Piper Sandler reduced their price objective on Solid Biosciences from $20.00 to $17.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. JPMorgan Chase & Co. reduced their price objective on Solid Biosciences from $15.00 to $13.00 and set an "overweight" rating for the company in a research report on Thursday. Cantor Fitzgerald set a $16.00 target price on Solid Biosciences and gave the stock an "overweight" rating in a research report on Monday, July 21st. Finally, Barclays cut their target price on Solid Biosciences from $15.00 to $10.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Ten equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Solid Biosciences has a consensus rating of "Buy" and a consensus target price 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.