Walleye Capital LLC Decreases Stake in Solid Biosciences Inc. $SLDB

Key Points

• Walleye Capital LLC reduced its stake in Solid Biosciences Inc. by 65.2%, holding 55,229 shares worth approximately $204,000 as of its latest SEC filing.
• Several institutional investors, including Monashee Investment Management and Dimensional Fund Advisors, increased their stakes in Solid Biosciences, contributing to 81.46% institutional ownership of the stock.
• Equities analysts have given the stock an average rating of Buy with target prices ranging from $14 to $20, reflecting optimism about its future performance.

Walleye Capital LLC lessened its stake in shares of Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) by 65.2% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 55,229 shares of the company's stock after selling 103,602 shares during the period. Walleye Capital LLC owned 0.07% of Solid Biosciences worth $204,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of SLDB. Monashee Investment Management LLC grew its holdings in Solid Biosciences by 248.6% during the first quarter. Monashee Investment Management LLC now owns 1,673,412 shares of the company's stock valued at $6,192,000 after purchasing an additional 1,193,412 shares during the period. Redmile Group LLC bought a new stake in Solid Biosciences during the fourth quarter valued at about $2,461,000. Dimensional Fund Advisors LP grew its holdings in Solid Biosciences by 270.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 264,069 shares of the company's stock valued at $1,056,000 after purchasing an additional 192,714 shares during the period. Resolute Capital Asset Partners LLC bought a new stake in Solid Biosciences during the first quarter valued at about $555,000. Finally, Knott David M Jr bought a new stake in Solid Biosciences during the first quarter valued at about $488,000. Institutional investors own 81.46% of the company's stock.

Solid Biosciences Trading Up 4.8%

Shares of NASDAQ:SLDB traded up $0.24 during mid-day trading on Wednesday, reaching $5.24. The stock had a trading volume of 1,105,355 shares, compared to its average volume of 802,633. The company has a market cap of $408.04 million, a P/E ratio of -1.87 and a beta of 2.54. Solid Biosciences Inc. has a 1 year low of $2.41 and a 1 year high of $8.14. The business's 50 day moving average price is $5.93 and its 200 day moving average price is $4.63.

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, topping analysts' consensus estimates of ($0.51) by $0.09. Analysts predict that Solid Biosciences Inc. will post -2.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SLDB. Chardan Capital reissued a "buy" rating and set a $15.00 price target on shares of Solid Biosciences in a report on Thursday, August 14th. Wedbush lowered their price objective on Solid Biosciences from $17.00 to $14.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 13th. JMP Securities restated a "market outperform" rating and issued a $15.00 price objective on shares of Solid Biosciences in a research report on Friday, June 6th. JPMorgan Chase & Co. lowered their price objective on Solid Biosciences from $15.00 to $13.00 and set an "overweight" rating on the stock in a research report on Thursday, August 14th. Finally, Citigroup started coverage on Solid Biosciences in a research report on Thursday, June 26th. They issued a "buy" rating and a $14.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus 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.