JPMorgan Chase & Co. Acquires 945,863 Shares of Solid Biosciences Inc. (NASDAQ:SLDB)

JPMorgan Chase & Co. increased its holdings in Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) by 9,393.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 955,932 shares of the company's stock after purchasing an additional 945,863 shares during the quarter. JPMorgan Chase & Co. owned approximately 2.39% of Solid Biosciences worth $3,824,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Prudential Financial Inc. grew its position in shares of Solid Biosciences by 71.3% in the 4th quarter. Prudential Financial Inc. now owns 109,105 shares of the company's stock valued at $436,000 after buying an additional 45,400 shares during the last quarter. Sei Investments Co. acquired a new position in shares of Solid Biosciences in the fourth quarter worth approximately $52,000. American Century Companies Inc. boosted its holdings in Solid Biosciences by 12.3% in the fourth quarter. American Century Companies Inc. now owns 46,857 shares of the company's stock valued at $187,000 after acquiring an additional 5,126 shares during the last quarter. Quantum Private Wealth LLC increased its position in Solid Biosciences by 81.8% during the 4th quarter. Quantum Private Wealth LLC now owns 57,333 shares of the company's stock valued at $229,000 after purchasing an additional 25,800 shares during the period. Finally, Rhumbline Advisers raised its holdings in Solid Biosciences by 10.5% during the 4th quarter. Rhumbline Advisers now owns 43,677 shares of the company's stock worth $175,000 after purchasing an additional 4,161 shares during the last quarter. 81.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Solid Biosciences from $12.00 to $11.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. Chardan Capital reaffirmed a "buy" rating and set a $16.00 price target on shares of Solid Biosciences in a research report on Friday, March 7th. HC Wainwright lifted their price objective on Solid Biosciences from $16.00 to $20.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Finally, Truist Financial initiated coverage on Solid Biosciences in a research report on Wednesday, January 8th. They set a "buy" rating and a $16.00 target price on the stock. Eight investment analysts have rated the stock with a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, Solid Biosciences presently has an average rating of "Buy" and a consensus target price of $15.67.

Solid Biosciences Price Performance

Shares of SLDB traded up $0.13 during trading hours on Wednesday, hitting $3.56. The stock had a trading volume of 1,544,533 shares, compared to its average volume of 925,586. The firm has a 50 day simple moving average of $4.30 and a 200-day simple moving average of $4.58. Solid Biosciences Inc. has a 1-year low of $2.45 and a 1-year high of $10.99. The firm has a market capitalization of $275.88 million, a P/E ratio of -1.17 and a beta of 2.07.

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.