MPM Bioimpact LLC Invests $6.08 Million in Solid Biosciences Inc. $SLDB

Key Points

• MPM Bioimpact LLC invested approximately $6.08 million in Solid Biosciences Inc., acquiring 1,642,356 shares, which constitutes 2.12% of the company's total stock.
• Solid Biosciences reported earnings of ($0.42) per share, exceeding analyst expectations of ($0.51), while the current market prediction is for an EPS of -2.84 for the fiscal year.
• The stock price for Solid Biosciences Inc. is currently at $5.48, with a market cap of $426.73 million, and it has seen a price target range between $15.00 and $20.00 from various analysts.

MPM Bioimpact LLC acquired a new position in shares of Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,642,356 shares of the company's stock, valued at approximately $6,077,000. MPM Bioimpact LLC owned 2.12% of Solid Biosciences as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. CWM LLC lifted its stake 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 acquiring an additional 7,898 shares in the last quarter. Corton Capital Inc. bought a new stake in shares of Solid Biosciences during the 4th quarter worth $41,000. Ground Swell Capital LLC bought a new stake in shares of Solid Biosciences during the 1st quarter worth $42,000. Invesco Ltd. bought a new stake in Solid Biosciences in the 4th quarter valued at about $49,000. Finally, Wells Fargo & Company MN raised its stake in Solid Biosciences by 29.4% in the 4th quarter. Wells Fargo & Company MN now owns 13,138 shares of the company's stock valued at $53,000 after acquiring an additional 2,986 shares during the period. 81.46% of the stock is currently owned by institutional investors.

Solid Biosciences Stock Down 2.5%

Shares of NASDAQ:SLDB opened at $5.48 on Tuesday. The stock has a market cap of $426.73 million, a price-to-earnings ratio of -1.96 and a beta of 2.54. Solid Biosciences Inc. has a 52-week low of $2.41 and a 52-week high of $9.37. The business has a 50-day moving average price of $5.85 and a 200-day moving average price of $4.63.

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

Analysts Set New Price Targets

SLDB has been the subject of a number of recent analyst reports. Piper Sandler reduced their target price on Solid Biosciences from $20.00 to $17.00 and set an "overweight" rating for the company in a report on Friday, May 16th. HC Wainwright reiterated a "buy" rating and issued a $20.00 price objective on shares of Solid Biosciences in a research report on Tuesday, June 17th. Wall Street Zen raised Solid Biosciences from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Chardan Capital reaffirmed a "buy" rating and issued a $15.00 price target on shares of Solid Biosciences in a research note on Thursday, August 14th. Finally, JMP Securities reissued a "market outperform" rating and issued a $15.00 target price 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 issued a Buy rating to the company. According to data from MarketBeat, the stock presently 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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