Point72 Asset Management L.P. Increases Position in Solid Biosciences Inc. (NASDAQ:SLDB)

Point72 Asset Management L.P. increased its holdings in Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) by 292.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 443,010 shares of the company's stock after acquiring an additional 330,234 shares during the quarter. Point72 Asset Management L.P. owned about 1.11% of Solid Biosciences worth $3,088,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in shares of Solid Biosciences by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 70,827 shares of the company's stock valued at $402,000 after purchasing an additional 5,287 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Solid Biosciences by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 13,699 shares of the company's stock valued at $95,000 after buying an additional 7,719 shares in the last quarter. American Century Companies Inc. grew its position in shares of Solid Biosciences by 39.9% in the 2nd quarter. American Century Companies Inc. now owns 34,557 shares of the company's stock worth $196,000 after buying an additional 9,853 shares during the period. The Manufacturers Life Insurance Company bought a new position in shares of Solid Biosciences in the 3rd quarter worth about $71,000. Finally, Point72 DIFC Ltd purchased a new position in Solid Biosciences during the 2nd quarter valued at about $58,000. Institutional investors own 81.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SLDB. JPMorgan Chase & Co. decreased their target price on shares of Solid Biosciences from $15.00 to $12.00 and set an "overweight" rating for the company in a research note on Tuesday, November 12th. Barclays lowered 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. JMP Securities initiated coverage on Solid Biosciences in a research note on Tuesday. They issued an "outperform" rating and a $15.00 target price on the stock. William Blair upgraded Solid Biosciences to a "strong-buy" rating in a report on Friday, August 30th. Finally, HC Wainwright reiterated a "buy" rating and issued a $16.00 price target on shares of Solid Biosciences in a research note on Thursday, November 7th. Eight analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Solid Biosciences currently has a consensus rating of "Buy" and an average price target of $15.13.

Solid Biosciences Stock Down 0.6 %

SLDB traded down $0.03 during midday trading on Tuesday, hitting $5.08. 115,359 shares of the company traded hands, compared to its average volume of 340,620. The company's 50-day moving average is $5.83 and its 200 day moving average is $7.14. The firm has a market capitalization of $203.00 million, a PE ratio of -1.68 and a beta of 2.01. Solid Biosciences Inc. has a 52 week low of $3.80 and a 52 week high of $15.05.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.79) EPS for the quarter, missing analysts' consensus estimates of ($0.67) by ($0.12). On average, sell-side analysts predict that Solid Biosciences Inc. will post -2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jessie Hanrahan sold 4,610 shares of Solid Biosciences stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total transaction of $25,816.00. Following the transaction, the insider now owns 14,235 shares in the company, valued at $79,716. This trade represents a 24.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Alexander Cumbo sold 11,114 shares of the company's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total value of $62,238.40. Following the completion of the sale, the chief executive officer now owns 38,484 shares of the company's stock, valued at $215,510.40. This trade represents a 22.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,719 shares of company stock valued at $135,457 over the last 90 days. Company insiders own 13.63% of the company's stock.

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.