Valence8 US LP Acquires New Position in Solid Biosciences Inc. (NASDAQ:SLDB)

Valence8 US LP bought a new position in shares of Solid Biosciences Inc. (NASDAQ:SLDB) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 15,728 shares of the company’s stock, valued at approximately $110,000.

A number of other large investors also recently bought and sold shares of the company. RA Capital Management L.P. lifted its stake in Solid Biosciences by 26.4% during the first quarter. RA Capital Management L.P. now owns 4,330,446 shares of the company’s stock worth $57,682,000 after purchasing an additional 904,160 shares during the last quarter. Bain Capital Life Sciences Investors LLC grew its position in shares of Solid Biosciences by 28.9% during the 1st quarter. Bain Capital Life Sciences Investors LLC now owns 4,034,582 shares of the company’s stock valued at $53,741,000 after buying an additional 904,160 shares during the last quarter. Artal Group S.A. raised its stake in Solid Biosciences by 175.0% during the first quarter. Artal Group S.A. now owns 2,500,000 shares of the company’s stock worth $33,300,000 after acquiring an additional 1,590,781 shares during the period. Janus Henderson Group PLC acquired a new stake in Solid Biosciences during the first quarter worth about $23,935,000. Finally, Millennium Management LLC boosted its stake in Solid Biosciences by 135.7% in the second quarter. Millennium Management LLC now owns 1,728,065 shares of the company’s stock valued at $9,798,000 after acquiring an additional 994,984 shares during the period. Institutional investors own 81.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SLDB shares. Chardan Capital reiterated a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a research report on Monday, November 11th. JPMorgan Chase & Co. cut their target price on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. HC Wainwright restated a “buy” rating and set a $16.00 price target on shares of Solid Biosciences in a research report on Thursday, November 7th. Barclays dropped their price objective on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. Finally, William Blair raised shares of Solid Biosciences to a “strong-buy” rating in a research note on Friday, August 30th. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $15.14.

Solid Biosciences Trading Up 5.4 %

Solid Biosciences stock opened at $5.23 on Friday. The company’s 50-day moving average price is $6.37 and its two-hundred day moving average price is $7.53. The stock has a market cap of $208.96 million, a price-to-earnings ratio of -1.72 and a beta of 1.92. Solid Biosciences Inc. has a 52 week low of $2.44 and a 52 week high of $15.05.

Solid Biosciences (NASDAQ:SLDB) last announced its earnings results on Wednesday, November 6th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.12). Research analysts expect that Solid Biosciences Inc. will post -2.81 earnings per share for the current fiscal year.

Solid Biosciences Company Profile

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.