Walleye Capital LLC Has $204,000 Holdings 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 cut its stake in shares of Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) by 65.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,229 shares of the company's stock after selling 103,602 shares during the period. Walleye Capital LLC owned approximately 0.07% of Solid Biosciences worth $204,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Vestal Point Capital LP grew its stake in shares of Solid Biosciences by 1.8% during the fourth quarter. Vestal Point Capital LP now owns 2,850,000 shares of the company's stock worth $11,400,000 after purchasing an additional 50,000 shares during the period. Monashee Investment Management LLC grew its stake in shares of Solid Biosciences by 248.6% during the first quarter. Monashee Investment Management LLC now owns 1,673,412 shares of the company's stock worth $6,192,000 after purchasing an additional 1,193,412 shares during the period. Redmile Group LLC acquired a new stake in shares of Solid Biosciences during the fourth quarter worth $2,461,000. Dimensional Fund Advisors LP grew its stake in shares of Solid Biosciences by 270.1% during the fourth 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, Resolute Capital Asset Partners LLC acquired a new stake in shares of Solid Biosciences during the first quarter worth $555,000. 81.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SLDB shares. Wall Street Zen raised Solid Biosciences from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Citigroup started coverage on Solid Biosciences in a research note on Thursday, June 26th. They issued a "buy" rating and a $14.00 target price for the company. HC Wainwright reissued a "buy" rating and issued a $20.00 target price on shares of Solid Biosciences in a research note on Tuesday, June 17th. JMP Securities reissued a "market outperform" rating and issued a $15.00 target price on shares of Solid Biosciences in a research note on Friday, June 6th. Finally, Wedbush decreased their target price on Solid Biosciences from $17.00 to $14.00 and set an "outperform" rating for the company in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating and ten have given a Buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $15.00.

Solid Biosciences Price Performance

Shares of Solid Biosciences stock opened at $5.56 on Friday. The firm has a market cap of $432.96 million, a price-to-earnings ratio of -1.99 and a beta of 2.54. The stock's 50-day moving average is $5.90 and its 200-day moving average is $4.65. Solid Biosciences Inc. has a one year low of $2.41 and a one year high of $8.74.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.42) EPS for the quarter, beating analysts' consensus estimates of ($0.51) by $0.09. On average, equities analysts expect that Solid Biosciences Inc. will post -2.84 EPS for the current year.

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.

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