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

Solid Biosciences Inc. (NASDAQ:SLDB) was the target of a significant decline in short interest in the month of July. As of July 15th, there was short interest totalling 1,660,000 shares, a decline of 45.6% from the June 30th total of 3,050,000 shares. Based on an average daily trading volume, of 451,600 shares, the short-interest ratio is currently 3.7 days. Approximately 5.2% of the shares of the company are short sold.

Solid Biosciences Price Performance

Shares of NASDAQ:SLDB traded up $0.24 on Friday, reaching $9.29. 251,035 shares of the company traded hands, compared to its average volume of 677,246. Solid Biosciences has a fifty-two week low of $1.81 and a fifty-two week high of $15.05. The company’s 50 day moving average is $7.56 and its 200-day moving average is $9.09. The stock has a market capitalization of $356.55 million, a PE ratio of -2.36 and a beta of 1.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 14.94 and a quick ratio of 14.94.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings data on Wednesday, May 15th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). As a group, analysts anticipate that Solid Biosciences will post -2.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SLDB has been the subject of a number of research analyst reports. HC Wainwright restated a “buy” rating and issued a $16.00 target price on shares of Solid Biosciences in a research report on Monday, May 20th. Piper Sandler restated an “overweight” rating and issued a $20.00 target price on shares of Solid Biosciences in a research report on Friday, June 21st. JPMorgan Chase & Co. upgraded Solid Biosciences from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $10.00 to $15.00 in a research report on Monday, July 15th. Barclays cut their target price on Solid Biosciences from $21.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, May 16th. Finally, Leerink Partnrs upgraded Solid Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 24th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $16.17.

Institutional Trading of Solid Biosciences

Several large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new stake in Solid Biosciences during the 2nd quarter valued at $392,000. RA Capital Management L.P. raised its stake in Solid Biosciences by 26.4% during the 1st quarter. RA Capital Management L.P. now owns 4,330,446 shares of the company’s stock valued at $57,682,000 after purchasing an additional 904,160 shares during the period. Artal Group S.A. raised its stake in Solid Biosciences by 175.0% during the 1st quarter. Artal Group S.A. now owns 2,500,000 shares of the company’s stock valued at $33,300,000 after purchasing an additional 1,590,781 shares during the period. Janus Henderson Group PLC acquired a new stake in Solid Biosciences during the 1st quarter valued at $23,935,000. Finally, Bain Capital Life Sciences Investors LLC raised its stake in 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 purchasing an additional 904,160 shares during the period. 81.46% of the stock is owned by institutional investors and hedge funds.

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.