Resolute Capital Asset Partners LLC Purchases Shares of 150,000 Solid Biosciences Inc. $SLDB

Key Points

• Resolute Capital Asset Partners LLC made a new investment of approximately $555,000 in Solid Biosciences Inc., acquiring 150,000 shares in the first quarter.
• Solid Biosciences has experienced significant investment activity, with 81.46% of the company's stock owned by institutional investors.
• Analyst ratings for Solid Biosciences reflect mixed opinions, with target prices ranging from $10.00 to $20.00, indicating a consensus rating of "Buy."

Resolute Capital Asset Partners LLC acquired a new position in Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 150,000 shares of the company's stock, valued at approximately $555,000. Resolute Capital Asset Partners LLC owned 0.19% of Solid Biosciences at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in SLDB. Geode Capital Management LLC lifted its stake in Solid Biosciences by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 509,802 shares of the company's stock worth $2,040,000 after acquiring an additional 4,932 shares during the period. Wells Fargo & Company MN lifted 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 valued at $53,000 after buying an additional 2,986 shares during the last quarter. Invesco Ltd. purchased a new stake in shares of Solid Biosciences during the fourth quarter valued at about $49,000. Renaissance Technologies LLC lifted its position in shares of Solid Biosciences by 12.7% during the fourth quarter. Renaissance Technologies LLC now owns 82,493 shares of the company's stock valued at $330,000 after buying an additional 9,281 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Solid Biosciences by 270.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 264,069 shares of the company's stock valued at $1,056,000 after buying an additional 192,714 shares during the last quarter. 81.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wedbush decreased their price target on shares of Solid Biosciences from $17.00 to $14.00 and set an "outperform" rating for the company in a research report on Wednesday, August 13th. JPMorgan Chase & Co. decreased their price target on shares of Solid Biosciences from $15.00 to $13.00 and set an "overweight" rating for the company in a research report on Thursday, August 14th. JMP Securities reissued a "market outperform" rating and set a $15.00 price target on shares of Solid Biosciences in a research report on Friday, June 6th. Piper Sandler decreased 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 report on Friday, May 16th. Finally, Wall Street Zen raised shares of Solid Biosciences from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Two equities research analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the stock. According to MarketBeat.com, Solid Biosciences presently has an average rating of "Buy" and a consensus price target of $15.00.

Solid Biosciences Price Performance

SLDB traded up $0.05 during trading on Thursday, reaching $5.67. 250,130 shares of the company's stock were exchanged, compared to its average volume of 1,873,161. Solid Biosciences Inc. has a 1 year low of $2.41 and a 1 year high of $9.37. The company's fifty day simple moving average is $5.80 and its 200-day simple moving average is $4.58. The stock has a market capitalization of $441.13 million, a P/E ratio of -2.01 and a beta of 2.44.

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 the consensus estimate of ($0.51) by $0.09. Equities analysts forecast that Solid Biosciences Inc. will post -2.84 EPS for the current year.

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.