Solid Biosciences Inc. (NASDAQ:SLDB) Short Interest Up 27.6% in May

Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) was the target of a large increase in short interest in May. As of May 15th, there was short interest totalling 9,050,000 shares, an increase of 27.6% from the April 30th total of 7,090,000 shares. Based on an average daily volume of 1,480,000 shares, the short-interest ratio is currently 6.1 days. Approximately 16.0% of the company's stock are short sold.

Solid Biosciences Trading Up 9.7%

NASDAQ SLDB traded up $0.34 during trading hours on Wednesday, reaching $3.84. The company's stock had a trading volume of 1,844,555 shares, compared to its average volume of 1,100,346. The business has a 50-day simple moving average of $3.09 and a 200 day simple moving average of $3.99. Solid Biosciences has a 52 week low of $2.41 and a 52 week high of $10.37. The stock has a market cap of $297.66 million, a PE ratio of -1.26 and a beta of 2.32.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.06). As a group, equities analysts predict that Solid Biosciences will post -2.84 EPS for the current year.

Institutional Investors Weigh In On Solid Biosciences

Hedge funds have recently added to or reduced their stakes in the stock. Woodline Partners LP acquired a new stake in shares of Solid Biosciences in the 1st quarter worth about $2,338,000. Goldman Sachs Group Inc. grew its position in Solid Biosciences by 32.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 180,137 shares of the company's stock worth $667,000 after purchasing an additional 43,910 shares during the last quarter. EcoR1 Capital LLC acquired a new stake in shares of Solid Biosciences in the first quarter valued at approximately $2,754,000. Bain Capital Life Sciences Investors LLC increased its stake in shares of Solid Biosciences by 96.1% in the first quarter. Bain Capital Life Sciences Investors LLC now owns 7,911,669 shares of the company's stock valued at $29,273,000 after purchasing an additional 3,877,087 shares during the period. Finally, AQR Capital Management LLC bought a new stake in shares of Solid Biosciences during the first quarter valued at approximately $418,000. 81.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SLDB has been the subject of a number of analyst reports. Chardan Capital decreased their price objective on shares of Solid Biosciences from $16.00 to $15.00 and set a "buy" rating for the company in a research report on Monday, May 19th. Cantor Fitzgerald reissued an "overweight" rating and issued a $16.00 price target on shares of Solid Biosciences in a report on Thursday, May 22nd. Wedbush lowered their price objective on Solid Biosciences from $18.00 to $17.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Barclays dropped their price objective on Solid Biosciences from $15.00 to $10.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Finally, Piper Sandler reduced their target price on Solid Biosciences from $20.00 to $17.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Ten investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $14.90.

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.