Siren L.L.C. Has $27.44 Million Holdings in Solid Biosciences Inc. $SLDB

Key Points

• Siren L.L.C. significantly increased its stake in Solid Biosciences Inc. by 97.8%, owning approximately 9.57% of the company, valued at about $27.44 million.
• Solid Biosciences shares received mixed ratings from analysts, with price targets ranging from $15.00 to $20.00, while currently holding an average rating of "Buy."
• The company's stock price opened at $5.24 with a market cap of $408.04 million, showing potential for growth despite recent loss reports.

Siren L.L.C. grew its stake in Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) by 97.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,415,905 shares of the company's stock after buying an additional 3,666,864 shares during the quarter. Solid Biosciences accounts for about 1.6% of Siren L.L.C.'s investment portfolio, making the stock its 20th biggest holding. Siren L.L.C. owned about 9.57% of Solid Biosciences worth $27,439,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Wells Fargo & Company MN boosted its stake in shares of Solid Biosciences by 29.4% during the 4th 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 during the last quarter. Wellington Management Group LLP increased its position in Solid Biosciences by 4.0% during the fourth quarter. Wellington Management Group LLP now owns 124,551 shares of the company's stock worth $498,000 after acquiring an additional 4,747 shares during the period. American Century Companies Inc. increased its position in Solid Biosciences by 10.6% during 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 during the period. Charles Schwab Investment Management Inc. increased its position in Solid Biosciences by 8.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 68,607 shares of the company's stock worth $254,000 after acquiring an additional 5,220 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of Solid Biosciences by 80.7% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 15,308 shares of the company's stock valued at $57,000 after buying an additional 6,836 shares in the last quarter. 81.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SLDB shares. Piper Sandler decreased their price target on shares of Solid Biosciences from $20.00 to $17.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Cantor Fitzgerald set a $16.00 price objective on shares of Solid Biosciences and gave the company an "overweight" rating in a research note on Monday, July 21st. JMP Securities reissued a "market outperform" rating and set a $15.00 target price on shares of Solid Biosciences in a research note on Friday, June 6th. Wall Street Zen upgraded shares of Solid Biosciences from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $20.00 price target on shares of Solid Biosciences in a research report on Tuesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating and ten have given a Buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $15.00.

Solid Biosciences Stock Up 4.8%

Shares of NASDAQ SLDB opened at $5.24 on Thursday. Solid Biosciences Inc. has a 52 week low of $2.41 and a 52 week high of $8.14. The firm's fifty day moving average is $5.93 and its 200 day moving average is $4.63. The company has a market cap of $408.04 million, a price-to-earnings ratio of -1.87 and a beta of 2.54.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.51) by $0.09. Equities research analysts anticipate that Solid Biosciences Inc. will post -2.84 earnings per share for the current year.

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.

Want to see what other hedge funds are holding SLDB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Solid Biosciences Inc. (NASDAQ:SLDB - Free Report).

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.