Solid Biosciences Inc. (NASDAQ:SLDB) Short Interest Update

Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 7,320,000 shares, a growth of 148.1% from the February 13th total of 2,950,000 shares. Approximately 12.3% of the company's stock are short sold. Based on an average daily volume of 2,130,000 shares, the days-to-cover ratio is currently 3.4 days.

Hedge Funds Weigh In On Solid Biosciences

Large investors have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Solid Biosciences during the 4th quarter valued at approximately $34,000. The Manufacturers Life Insurance Company bought a new stake in Solid Biosciences during the 3rd quarter valued at $71,000. Corton Capital Inc. purchased a new stake in shares of Solid Biosciences during the fourth quarter worth $41,000. Invesco Ltd. bought a new position in shares of Solid Biosciences in the fourth quarter worth $49,000. Finally, Sei Investments Co. purchased a new position in shares of Solid Biosciences in the fourth quarter valued at $52,000. Hedge funds and other institutional investors own 81.46% of the company's stock.

Analyst Ratings Changes

SLDB has been the topic of several research reports. Truist Financial initiated coverage on shares of Solid Biosciences in a report on Wednesday, January 8th. They set a "buy" rating and a $16.00 price objective on the stock. JMP Securities assumed coverage on shares of Solid Biosciences in a report on Tuesday, December 10th. They issued an "outperform" rating and a $15.00 target price on the stock. Wedbush assumed coverage on Solid Biosciences in a research note on Friday, December 13th. They set an "outperform" rating and a $16.00 price target for the company. Citizens Jmp raised Solid Biosciences to a "strong-buy" rating in a report on Tuesday, December 10th. Finally, Chardan Capital restated a "buy" rating and issued a $16.00 target price on shares of Solid Biosciences in a report on Friday, March 7th. Nine investment analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat, Solid Biosciences currently has an average rating of "Buy" and an average target price of $15.80.

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Solid Biosciences Price Performance

NASDAQ:SLDB opened at $5.73 on Thursday. Solid Biosciences has a 1 year low of $2.88 and a 1 year high of $15.05. The business has a fifty day simple moving average of $4.12 and a two-hundred day simple moving average of $5.47. The company has a market capitalization of $437.31 million, a P/E ratio of -1.88 and a beta of 1.98.

Solid Biosciences Company Profile

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.

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