Millennium Management LLC Has $2.88 Million Holdings in Solid Biosciences Inc. (NASDAQ:SLDB)

Millennium Management LLC lowered its position in Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) by 35.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 719,776 shares of the company's stock after selling 397,321 shares during the quarter. Millennium Management LLC owned 1.80% of Solid Biosciences worth $2,879,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. bought a new stake in shares of Solid Biosciences in the 4th quarter worth about $34,000. Corton Capital Inc. bought a new stake in shares of Solid Biosciences during the 4th quarter valued at about $41,000. Invesco Ltd. acquired a new position in Solid Biosciences during the 4th quarter valued at about $49,000. Sei Investments Co. acquired a new position in Solid Biosciences during the 4th quarter valued at about $52,000. Finally, Wells Fargo & Company MN boosted its stake in Solid Biosciences by 29.4% during the 4th quarter. Wells Fargo & Company MN now owns 13,138 shares of the company's stock valued at $53,000 after purchasing an additional 2,986 shares during the period. Institutional investors and hedge funds own 81.46% of the company's stock.

Solid Biosciences Trading Up 9.7%

SLDB stock traded up $0.34 on Wednesday, hitting $3.84. 1,844,821 shares of the company's stock traded hands, compared to its average volume of 1,104,245. Solid Biosciences Inc. has a 1-year low of $2.41 and a 1-year high of $10.37. The stock has a market cap of $297.66 million, a price-to-earnings ratio of -1.26 and a beta of 2.32. The stock has a fifty day moving average of $3.08 and a 200-day moving average of $3.99.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate 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.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Barclays reduced their target price on shares of Solid Biosciences from $15.00 to $10.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Wedbush reduced their target price on shares of Solid Biosciences from $18.00 to $17.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. JPMorgan Chase & Co. reduced their target price on shares of Solid Biosciences from $12.00 to $11.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Chardan Capital reduced their target price on shares of Solid Biosciences from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Monday, May 19th. Finally, Piper Sandler reduced their price target 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. Ten research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Solid Biosciences currently has an average rating of "Buy" and a consensus price target of $14.90.

Solid Biosciences 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.