Siren L.L.C. lifted its stake in shares of Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) by 97.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,415,905 shares of the company's stock after buying an additional 3,666,864 shares during the quarter. Solid Biosciences makes up about 1.6% of Siren L.L.C.'s investment portfolio, making the stock its 20th largest holding. Siren L.L.C. owned approximately 9.57% of Solid Biosciences worth $27,439,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also made changes to their positions in SLDB. Wells Fargo & Company MN grew 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 buying an additional 2,986 shares in the last quarter. Dimensional Fund Advisors LP grew 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 worth $1,056,000 after buying an additional 192,714 shares in the last quarter. Algert Global LLC grew its position in shares of Solid Biosciences by 45.7% during the fourth quarter. Algert Global LLC now owns 22,089 shares of the company's stock worth $88,000 after buying an additional 6,930 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Solid Biosciences in the fourth quarter worth $176,000. Finally, Bank of America Corp DE boosted its holdings in Solid Biosciences by 87.9% in the fourth quarter. Bank of America Corp DE now owns 83,471 shares of the company's stock worth $334,000 after purchasing an additional 39,056 shares during the period. Institutional investors and hedge funds own 81.46% of the company's stock.
Solid Biosciences Trading Down 1.5%
SLDB stock traded down $0.08 during trading on Tuesday, hitting $5.41. The company had a trading volume of 715,006 shares, compared to its average volume of 734,876. The firm has a market capitalization of $421.28 million, a price-to-earnings ratio of -1.93 and a beta of 2.54. The business has a 50 day moving average of $5.96 and a 200 day moving average of $4.63. Solid Biosciences Inc. has a fifty-two week low of $2.41 and a fifty-two week high of $8.10.
Solid Biosciences (NASDAQ:SLDB - Get Free Report) last posted its quarterly earnings data 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 predict that Solid Biosciences Inc. will post -2.84 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of research firms have commented on SLDB. JMP Securities reaffirmed a "market outperform" rating and issued a $15.00 price objective on shares of Solid Biosciences in a report on Friday, June 6th. Wedbush decreased their price objective on shares of Solid Biosciences from $17.00 to $14.00 and set an "outperform" rating for the company in a report on Wednesday, August 13th. Cantor Fitzgerald set a $16.00 price objective on shares of Solid Biosciences and gave the stock an "overweight" rating in a report on Monday, July 21st. JPMorgan Chase & Co. cut their target price on Solid Biosciences from $15.00 to $13.00 and set an "overweight" rating on the stock in a research note on Thursday, August 14th. Finally, HC Wainwright reissued a "buy" rating and issued a $20.00 price objective on shares of Solid Biosciences in a report on Tuesday, June 17th. One research analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, Solid Biosciences presently has an average rating of "Buy" and an average target price of $15.00.
View Our Latest Stock Report on Solid Biosciences
About Solid Biosciences
(
Free Report)
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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