Renaissance Technologies LLC Has $895,000 Stock Holdings in Solid Biosciences Inc. $SLDB

Renaissance Technologies LLC boosted its position in Solid Biosciences Inc. (NASDAQ:SLDB) by 135.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 124,272 shares of the company’s stock after acquiring an additional 71,472 shares during the period. Renaissance Technologies LLC’s holdings in Solid Biosciences were worth $895,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MetLife Investment Management LLC raised its holdings in Solid Biosciences by 10.4% during 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 last quarter. Legal & General Group Plc boosted its stake in shares of Solid Biosciences by 208.6% in the 2nd quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock valued at $29,000 after purchasing an additional 4,063 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of Solid Biosciences by 15.2% in the 4th quarter. Intech Investment Management LLC now owns 34,485 shares of the company’s stock valued at $194,000 after purchasing an additional 4,539 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Solid Biosciences by 142.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 10,211 shares of the company’s stock worth $63,000 after buying an additional 5,991 shares during the period. Finally, Fox Run Management L.L.C. grew its position in shares of Solid Biosciences by 35.1% during the 4th quarter. Fox Run Management L.L.C. now owns 25,005 shares of the company’s stock worth $141,000 after buying an additional 6,491 shares during the period. 81.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. HC Wainwright increased their price objective on shares of Solid Biosciences from $20.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Truist Financial upgraded shares of Solid Biosciences to a “strong-buy” rating in a research report on Monday, April 27th. Piper Sandler reiterated an “overweight” rating and set a $18.00 target price (up from $17.00) on shares of Solid Biosciences in a research report on Wednesday, May 13th. Wedbush cut their price target on Solid Biosciences from $17.00 to $16.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Solid Biosciences in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $17.11.

Solid Biosciences Stock Performance

Shares of NASDAQ:SLDB opened at $9.20 on Friday. Solid Biosciences Inc. has a 52 week low of $3.79 and a 52 week high of $11.45. The company has a market capitalization of $986.42 million, a PE ratio of -4.82 and a beta of 2.41. The company has a 50 day moving average price of $8.76 and a two-hundred day moving average price of $7.64.

Solid Biosciences (NASDAQ:SLDB) last posted its earnings results on Thursday, August 6th. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.08. On average, sell-side analysts forecast that Solid Biosciences Inc. will post -1.72 earnings per share for the current year.

Solid Biosciences Company Profile

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.