15,728 Shares in Solid Biosciences Inc. (NASDAQ:SLDB) Purchased by Valence8 US LP

Valence8 US LP acquired a new position in shares of Solid Biosciences Inc. (NASDAQ:SLDB) during the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 15,728 shares of the company’s stock, valued at approximately $110,000.

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

Solid Biosciences Stock Performance

NASDAQ:SLDB opened at $5.23 on Friday. The company has a market capitalization of $208.96 million, a P/E ratio of -1.72 and a beta of 1.92. The stock’s 50 day moving average price is $6.37 and its 200 day moving average price is $7.53. 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 quarterly earnings results on Wednesday, November 6th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.12). As a group, sell-side analysts forecast that Solid Biosciences Inc. will post -2.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SLDB. Chardan Capital reaffirmed a “buy” rating and issued a $15.00 target price on shares of Solid Biosciences in a research report on Monday, November 11th. HC Wainwright reaffirmed a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a research note on Thursday, November 7th. JPMorgan Chase & Co. dropped their target price on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Barclays lowered their price objective on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 14th. Finally, William Blair upgraded shares of Solid Biosciences to a “strong-buy” rating in a research note on Friday, August 30th. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $15.14.

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.