Solid Biosciences Inc. (NASDAQ:SLDB) Short Interest Update

Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) was the recipient of a significant increase in short interest in the month of 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. Approximately 16.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,480,000 shares, the short-interest ratio is currently 6.1 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bain Capital Life Sciences Investors LLC grew its position in Solid Biosciences by 96.1% during 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 acquiring an additional 3,877,087 shares during the last quarter. Siren L.L.C. grew its position in Solid Biosciences by 97.8% during the first quarter. Siren L.L.C. now owns 7,415,905 shares of the company's stock valued at $27,439,000 after acquiring an additional 3,666,864 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its position in Solid Biosciences by 285.0% during the first quarter. Adage Capital Partners GP L.L.C. now owns 6,729,484 shares of the company's stock valued at $24,899,000 after acquiring an additional 4,981,400 shares during the last quarter. Vestal Point Capital LP boosted 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 valued at $11,400,000 after purchasing an additional 50,000 shares during the period. Finally, Redmile Group LLC boosted its stake in shares of Solid Biosciences by 228.2% during the first quarter. Redmile Group LLC now owns 2,019,171 shares of the company's stock valued at $7,471,000 after purchasing an additional 1,403,925 shares during the period. 81.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SLDB has been the topic of several analyst reports. JPMorgan Chase & Co. decreased their price target on Solid Biosciences from $12.00 to $11.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. JMP Securities reiterated a "market outperform" rating and set a $15.00 price target on shares of Solid Biosciences in a research report on Friday. HC Wainwright upped their price target on Solid Biosciences from $16.00 to $20.00 and gave the company a "buy" rating in a research report on Monday, March 10th. Cantor Fitzgerald reiterated an "overweight" rating and set a $16.00 price target on shares of Solid Biosciences in a research report on Thursday, May 22nd. Finally, Piper Sandler decreased their price target on Solid Biosciences from $20.00 to $17.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Ten equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $14.90.

Solid Biosciences Stock Up 6.8%

Shares of SLDB stock traded up $0.29 during trading on Friday, hitting $4.54. The company had a trading volume of 1,607,044 shares, compared to its average volume of 1,121,046. The stock's 50-day moving average is $3.12 and its two-hundred day moving average is $3.98. The stock has a market capitalization of $351.92 million, a price-to-earnings ratio of -1.49 and a beta of 2.32. Solid Biosciences has a 52 week low of $2.41 and a 52 week high of $10.37.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The company reported ($0.59) EPS for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.06). On average, research analysts predict that Solid Biosciences will post -2.84 EPS for the current fiscal 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.