Two Sigma Investments LP Sells 66,817 Shares of Solid Biosciences Inc. (NASDAQ:SLDB)

Two Sigma Investments LP lowered its stake in Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) by 32.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 136,145 shares of the company's stock after selling 66,817 shares during the period. Two Sigma Investments LP owned approximately 0.34% of Solid Biosciences worth $545,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Redmile Group LLC acquired a new position in shares of Solid Biosciences during the fourth quarter worth approximately $2,461,000. D. E. Shaw & Co. Inc. bought a new position in shares of Solid Biosciences during the 4th quarter worth about $208,000. Corton Capital Inc. bought a new stake in shares of Solid Biosciences in the fourth quarter valued at about $41,000. Cubist Systematic Strategies LLC grew its position in Solid Biosciences by 479.4% during the fourth quarter. Cubist Systematic Strategies LLC now owns 65,613 shares of the company's stock worth $262,000 after buying an additional 54,288 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in Solid Biosciences by 101.0% during the fourth quarter. Bridgeway Capital Management LLC now owns 102,631 shares of the company's stock valued at $411,000 after acquiring an additional 51,574 shares during the period. 81.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SLDB has been the topic of a number of recent research reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $16.00 price target on shares of Solid Biosciences in a research note on Thursday, May 22nd. Wedbush decreased their target price on shares of Solid Biosciences from $18.00 to $17.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Piper Sandler dropped 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. HC Wainwright lifted their price objective on Solid Biosciences from $16.00 to $20.00 and gave the company a "buy" rating in a report on Monday, March 10th. Finally, JPMorgan Chase & Co. dropped their target price on Solid Biosciences from $12.00 to $11.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Ten equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $14.90.

Solid Biosciences Stock Down 0.7%

NASDAQ:SLDB traded down $0.03 during mid-day trading on Thursday, reaching $4.58. 818,169 shares of the company were exchanged, compared to its average volume of 1,137,025. The company has a fifty day moving average of $3.19 and a 200 day moving average of $3.97. The stock has a market cap of $355.02 million, a PE ratio of -1.51 and a beta of 2.22. Solid Biosciences Inc. has a 12 month low of $2.41 and a 12 month high of $10.37.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.06). On average, equities research analysts anticipate that Solid Biosciences Inc. will post -2.84 EPS for the current fiscal year.

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.