Resolute Capital Asset Partners LLC Makes New $555,000 Investment in 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 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 150,000 shares of the company's stock, valued at approximately $555,000. Resolute Capital Asset Partners LLC owned approximately 0.19% of Solid Biosciences as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the business. Monashee Investment Management LLC raised its position in Solid Biosciences by 248.6% in the first quarter. Monashee Investment Management LLC now owns 1,673,412 shares of the company's stock worth $6,192,000 after acquiring an additional 1,193,412 shares in the last quarter. American Century Companies Inc. raised its position in Solid Biosciences by 10.6% in the first quarter. American Century Companies Inc. now owns 51,835 shares of the company's stock worth $192,000 after acquiring an additional 4,978 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Solid Biosciences in the first quarter worth $141,000. Ground Swell Capital LLC purchased a new position in Solid Biosciences in the first quarter worth $42,000. Finally, Knott David M Jr acquired a new stake in Solid Biosciences in the first quarter valued at $488,000. Hedge funds and other institutional investors own 81.46% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SLDB shares. Wedbush lowered their target price on Solid Biosciences from $17.00 to $14.00 and set an "outperform" rating on the stock in a report on Wednesday, August 13th. Barclays lowered their target price on Solid Biosciences from $15.00 to $10.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Citigroup started coverage on Solid Biosciences in a report on Thursday, June 26th. They issued a "buy" rating and a $14.00 target price on the stock. HC Wainwright reissued a "buy" rating and issued a $20.00 target price on shares of Solid Biosciences in a report on Tuesday, June 17th. Finally, JPMorgan Chase & Co. lowered their target price on Solid Biosciences from $15.00 to $13.00 and set an "overweight" rating on the stock in a report on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $15.00.

Solid Biosciences Stock Up 4.8%

SLDB opened at $5.93 on Friday. The business's fifty day simple moving average is $5.74 and its 200 day simple moving average is $4.52. Solid Biosciences Inc. has a 52 week low of $2.41 and a 52 week high of $10.07. The firm has a market cap of $461.77 million, a P/E ratio of -2.12 and a beta of 2.44.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.