Two Sigma Investments LP Reduces Stock Holdings in Solid Biosciences Inc. (NASDAQ:SLDB)

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

A number of other large investors have also made changes to their positions in the stock. Wells Fargo & Company MN boosted its stake 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 acquiring an additional 2,986 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Solid Biosciences by 10.5% during the fourth quarter. Rhumbline Advisers now owns 43,677 shares of the company's stock valued at $175,000 after acquiring an additional 4,161 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Solid Biosciences by 4.0% during the fourth quarter. Wellington Management Group LLP now owns 124,551 shares of the company's stock valued at $498,000 after acquiring an additional 4,747 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Solid Biosciences by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 509,802 shares of the company's stock valued at $2,040,000 after acquiring an additional 4,932 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Solid Biosciences by 12.3% during the fourth quarter. American Century Companies Inc. now owns 46,857 shares of the company's stock valued at $187,000 after acquiring an additional 5,126 shares during the last quarter. Institutional investors and hedge funds own 81.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SLDB. Chardan Capital decreased their price target on Solid Biosciences from $16.00 to $15.00 and set a "buy" rating on the stock in a research note on Monday, May 19th. Barclays decreased their price target on Solid Biosciences from $15.00 to $10.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. JPMorgan Chase & Co. decreased their price target on Solid Biosciences from $12.00 to $11.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. JMP Securities reissued a "market outperform" rating and issued a $15.00 price target on shares of Solid Biosciences in a research note on Friday, June 6th. Finally, HC Wainwright raised their price target on Solid Biosciences from $16.00 to $20.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Ten analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $14.90.

Solid Biosciences Stock Down 4.6%

Shares of NASDAQ SLDB traded down $0.22 during midday trading on Wednesday, hitting $4.61. The stock had a trading volume of 1,610,771 shares, compared to its average volume of 1,138,301. The company has a market capitalization of $357.34 million, a price-to-earnings ratio of -1.52 and a beta of 2.22. Solid Biosciences Inc. has a 1-year low of $2.41 and a 1-year high of $10.37. The company has a fifty day moving average price of $3.19 and a 200 day moving average price of $3.97.

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