Trexquant Investment LP Purchases 139,851 Shares of Solid Biosciences Inc. (NASDAQ:SLDB)

Trexquant Investment LP lifted its position in shares of Solid Biosciences Inc. (NASDAQ:SLDB) by 256.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 194,281 shares of the company’s stock after purchasing an additional 139,851 shares during the period. Trexquant Investment LP owned 0.49% of Solid Biosciences worth $777,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SLDB. The Manufacturers Life Insurance Company acquired a new position in Solid Biosciences during the third quarter worth approximately $71,000. FMR LLC acquired a new position in shares of Solid Biosciences during the 3rd quarter worth approximately $305,000. State Street Corp raised its stake in Solid Biosciences by 9.2% in the 3rd quarter. State Street Corp now owns 441,540 shares of the company’s stock valued at $3,078,000 after acquiring an additional 37,130 shares during the period. Wellington Management Group LLP lifted its holdings in Solid Biosciences by 183.6% during the 3rd quarter. Wellington Management Group LLP now owns 119,804 shares of the company’s stock valued at $835,000 after purchasing an additional 77,564 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in Solid Biosciences during the third quarter worth $121,000. 81.46% of the stock is owned by institutional investors.

Solid Biosciences Price Performance

Solid Biosciences stock opened at $2.70 on Friday. The firm has a market cap of $209.23 million, a PE ratio of -0.89 and a beta of 2.07. The stock’s fifty day moving average price is $4.38 and its two-hundred day moving average price is $4.81. Solid Biosciences Inc. has a one year low of $2.48 and a one year high of $10.99.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SLDB. HC Wainwright increased their price objective on shares of Solid Biosciences from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Truist Financial initiated coverage on shares of Solid Biosciences in a report on Wednesday, January 8th. They issued a “buy” rating and a $16.00 price target on the stock. Wedbush initiated coverage on Solid Biosciences in a report on Friday, December 13th. They set an “outperform” rating and a $16.00 price objective for the company. Chardan Capital reaffirmed a “buy” rating and issued a $16.00 target price on shares of Solid Biosciences in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. dropped their price target on Solid Biosciences from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Eight analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $15.67.

Solid Biosciences 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.