Solid Biosciences Inc. $SLDB Shares Sold by Vestal Point Capital LP

Key Points

• Vestal Point Capital LP reduced its holdings in Solid Biosciences by 38.5% during the first quarter, selling over 1 million shares, leaving it with approximately 2.26% of the company valued at $6.49 million.
• Several large investors have recently adjusted their positions in Solid Biosciences, with CWM LLC significantly increasing its stake by 15,188.5%.
• Analysts have mixed outlooks on the stock, with price targets ranging from $13.00 to $20.00, and a consensus rating of "Buy" with a target price of $15.00.

Vestal Point Capital LP reduced its position in shares of Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) by 38.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,753,558 shares of the company's stock after selling 1,096,442 shares during the period. Vestal Point Capital LP owned about 2.26% of Solid Biosciences worth $6,488,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SLDB. Wells Fargo & Company MN grew its holdings 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 purchasing an additional 2,986 shares during the last quarter. Wellington Management Group LLP grew its stake in Solid Biosciences by 4.0% during the 4th quarter. Wellington Management Group LLP now owns 124,551 shares of the company's stock worth $498,000 after buying an additional 4,747 shares during the last quarter. American Century Companies Inc. grew its stake in Solid Biosciences by 10.6% during the 1st quarter. American Century Companies Inc. now owns 51,835 shares of the company's stock worth $192,000 after buying an additional 4,978 shares during the last quarter. 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 buying an additional 5,220 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Solid Biosciences by 80.7% in the first 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 during the last quarter. 81.46% of the stock is currently owned by institutional investors and hedge funds.

Solid Biosciences Stock Performance

SLDB traded down $0.06 on Friday, hitting $5.50. 1,143,050 shares of the company were exchanged, compared to its average volume of 813,463. Solid Biosciences Inc. has a fifty-two week low of $2.41 and a fifty-two week high of $8.65. The firm has a market capitalization of $428.29 million, a P/E ratio of -1.96 and a beta of 2.54. The business's fifty day moving average is $5.91 and its 200 day moving average is $4.65.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.42) earnings per share for the quarter, beating the consensus estimate of ($0.51) by $0.09. Analysts forecast that Solid Biosciences Inc. will post -2.84 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wall Street Zen upgraded Solid Biosciences from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Citigroup initiated coverage on Solid Biosciences in a research note on Thursday, June 26th. They set a "buy" rating and a $14.00 price target for the company. Wedbush decreased their price target on Solid Biosciences from $17.00 to $14.00 and set an "outperform" rating for the company in a report on Wednesday, August 13th. JPMorgan Chase & Co. lowered their target price on shares of Solid Biosciences from $15.00 to $13.00 and set an "overweight" rating on the stock in a report on Thursday, August 14th. Finally, Cantor Fitzgerald set a $16.00 price objective on shares of Solid Biosciences and gave the company an "overweight" rating in a research report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $15.00.

About Solid Biosciences

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.