Bain Capital Life Sciences Investors LLC Increases Stock Position in Solid Biosciences Inc. $SLDB

Key Points

• Bain Capital Life Sciences Investors LLC has increased its stake in Solid Biosciences Inc. by 96.1%, making it the firm's 7th largest holding with a total of 7,911,669 shares.
• In recent analyst reports, price targets for Solid Biosciences have been adjusted, with JPMorgan Chase lowering their target from $15.00 to $13.00, while Barclays reduced theirs from $15.00 to $10.00.
• Solid Biosciences reported earnings of ($0.42) per share, which was better than analyst expectations of ($0.51), highlighting a positive performance relative to market forecasts.

Bain Capital Life Sciences Investors LLC lifted its position in Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) by 96.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,911,669 shares of the company's stock after buying an additional 3,877,087 shares during the period. Solid Biosciences comprises 4.3% of Bain Capital Life Sciences Investors LLC's holdings, making the stock its 7th largest position. Bain Capital Life Sciences Investors LLC owned 10.21% of Solid Biosciences worth $29,273,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SLDB. Wells Fargo & Company MN increased its position in shares of Solid Biosciences by 29.4% in the 4th quarter. Wells Fargo & Company MN now owns 13,138 shares of the company's stock valued at $53,000 after buying an additional 2,986 shares in the last quarter. Invesco Ltd. acquired a new position in Solid Biosciences in the 4th quarter worth $49,000. Renaissance Technologies LLC boosted its stake in Solid Biosciences by 12.7% in the 4th quarter. Renaissance Technologies LLC now owns 82,493 shares of the company's stock worth $330,000 after purchasing an additional 9,281 shares during the period. Dimensional Fund Advisors LP boosted its stake in Solid Biosciences by 270.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 264,069 shares of the company's stock worth $1,056,000 after purchasing an additional 192,714 shares during the period. Finally, Algert Global LLC boosted its stake in Solid Biosciences by 45.7% in the 4th quarter. Algert Global LLC now owns 22,089 shares of the company's stock worth $88,000 after purchasing an additional 6,930 shares during the period. Institutional investors own 81.46% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wedbush reduced their target price on shares of Solid Biosciences from $17.00 to $14.00 and set an "outperform" rating for the company in a research note on Wednesday, August 13th. Barclays reduced their price objective on shares of Solid Biosciences from $15.00 to $10.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. JMP Securities restated a "market outperform" rating and set a $15.00 price objective on shares of Solid Biosciences in a research note on Friday, June 6th. Piper Sandler reduced their price objective on shares of Solid Biosciences from $20.00 to $17.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Finally, HC Wainwright restated a "buy" rating and set a $20.00 price objective on shares of Solid Biosciences in a research note on Tuesday, June 17th. One analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company's stock. Based on data from MarketBeat, Solid Biosciences presently has an average rating of "Buy" and a consensus price target of $15.00.

Solid Biosciences Trading Down 1.1%

SLDB stock traded down $0.06 during mid-day trading on Friday, hitting $5.50. 1,143,050 shares of the company were exchanged, compared to its average volume of 813,463. The business has a 50 day simple moving average of $5.91 and a 200-day simple moving average of $4.64. The stock has a market capitalization of $428.29 million, a PE ratio of -1.96 and a beta of 2.54. Solid Biosciences Inc. has a 1-year low of $2.41 and a 1-year high of $8.65.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.51) by $0.09. Equities research analysts expect 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.