Solid Biosciences Inc. (NASDAQ:SLDB – Get Free Report) 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 – Get Free Report) 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
View Our Latest Report on SLDB
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.
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