Knott David M Jr Reduces Stock Holdings in Solid Biosciences Inc. $SLDB

Knott David M Jr reduced its position in shares of Solid Biosciences Inc. (NASDAQ:SLDB) by 71.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 47,143 shares of the company’s stock after selling 115,297 shares during the quarter. Knott David M Jr’s holdings in Solid Biosciences were worth $339,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. MetLife Investment Management LLC lifted its stake in shares of Solid Biosciences by 10.4% in the 4th quarter. MetLife Investment Management LLC now owns 33,202 shares of the company’s stock worth $187,000 after purchasing an additional 3,124 shares during the period. Legal & General Group Plc grew its position in Solid Biosciences by 208.6% during the second quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock valued at $29,000 after buying an additional 4,063 shares during the period. Intech Investment Management LLC grew its position in Solid Biosciences by 15.2% during the fourth quarter. Intech Investment Management LLC now owns 34,485 shares of the company’s stock valued at $194,000 after buying an additional 4,539 shares during the period. Russell Investments Group Ltd. grew its position in Solid Biosciences by 142.0% during the third quarter. Russell Investments Group Ltd. now owns 10,211 shares of the company’s stock valued at $63,000 after buying an additional 5,991 shares during the period. Finally, Fox Run Management L.L.C. increased its holdings in Solid Biosciences by 35.1% during the fourth quarter. Fox Run Management L.L.C. now owns 25,005 shares of the company’s stock valued at $141,000 after buying an additional 6,491 shares during the last quarter. Hedge funds and other institutional investors own 81.46% of the company’s stock.

Solid Biosciences Stock Down 1.5%

Shares of Solid Biosciences stock opened at $7.98 on Friday. The company has a market capitalization of $785.63 million, a price-to-earnings ratio of -4.09 and a beta of 2.36. The stock’s 50-day simple moving average is $8.23 and its 200-day simple moving average is $7.34. Solid Biosciences Inc. has a 52 week low of $3.79 and a 52 week high of $11.45.

Solid Biosciences (NASDAQ:SLDB) last released its earnings results on Tuesday, May 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.12). On average, equities analysts expect that Solid Biosciences Inc. will post -1.9 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. HC Wainwright increased their price target on shares of Solid Biosciences from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Piper Sandler reissued an “overweight” rating and set a $18.00 price objective (up from $17.00) on shares of Solid Biosciences in a research report on Wednesday, May 13th. Wall Street Zen upgraded Solid Biosciences from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Biosciences in a report on Friday, July 17th. Finally, Truist Financial upgraded Solid Biosciences to a “strong-buy” rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.11.

About Solid Biosciences

Solid Biosciences Inc is a clinical?stage biotechnology company focused on the development of therapies for Duchenne muscular dystrophy (DMD), a rare genetic disorder characterized by progressive muscle degeneration. The company’s primary approach centers on gene replacement and gene editing technologies designed to restore functional dystrophin protein in patients lacking this critical muscle?stabilizing protein.

Solid’s lead investigational therapy, SGT?001, is a micro?dystrophin gene therapy candidate engineered to deliver a shortened but functional form of the dystrophin gene using an adeno?associated virus (AAV) vector.