112,776 Shares in Solid Biosciences Inc. (NASDAQ:SLDB) Acquired by Point72 Asset Management L.P.

Point72 Asset Management L.P. acquired a new stake in shares of Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 112,776 shares of the company's stock, valued at approximately $639,000. Point72 Asset Management L.P. owned approximately 0.29% of Solid Biosciences as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of SLDB. Point72 DIFC Ltd acquired a new stake in Solid Biosciences during the 2nd quarter worth about $58,000. Ground Swell Capital LLC acquired a new stake in shares of Solid Biosciences during the second quarter worth about $76,000. Algert Global LLC purchased a new stake in Solid Biosciences in the second quarter valued at approximately $82,000. Susquehanna Fundamental Investments LLC acquired a new position in Solid Biosciences in the 2nd quarter worth approximately $92,000. Finally, Rhumbline Advisers acquired a new position in Solid Biosciences in the 2nd quarter worth approximately $191,000. 81.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on SLDB shares. JPMorgan Chase & Co. raised shares of Solid Biosciences from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $10.00 to $15.00 in a report on Monday, July 15th. Barclays reduced their price objective on Solid Biosciences from $18.00 to $15.00 and set an "overweight" rating for the company in a research note on Wednesday, August 14th. Leerink Partnrs upgraded Solid Biosciences from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 24th. HC Wainwright reaffirmed a "buy" rating and set a $16.00 target price on shares of Solid Biosciences in a report on Wednesday, August 14th. Finally, Piper Sandler reissued an "overweight" rating and issued a $20.00 price target on shares of Solid Biosciences in a report on Friday, June 21st. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $15.67.

Solid Biosciences Price Performance

NASDAQ SLDB traded down $0.12 during trading hours on Friday, reaching $6.58. The company's stock had a trading volume of 179,128 shares, compared to its average volume of 210,027. The firm has a market capitalization of $253.99 million, a price-to-earnings ratio of -1.67 and a beta of 1.90. The company's 50-day moving average is $8.12 and its two-hundred day moving average is $8.76. Solid Biosciences Inc. has a 1-year low of $1.81 and a 1-year high of $15.05.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last announced its earnings results on Tuesday, August 13th. The company reported ($0.61) earnings per share for the quarter, topping the consensus estimate of ($0.66) by $0.05. Equities analysts forecast that Solid Biosciences Inc. will post -2.61 EPS for the current fiscal year.

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.