Walleye Capital LLC Has $635,000 Stock Position in Solid Biosciences Inc. (NASDAQ:SLDB)

Walleye Capital LLC lowered its position in shares of Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) by 59.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 158,831 shares of the company's stock after selling 233,270 shares during the quarter. Walleye Capital LLC owned 0.40% of Solid Biosciences worth $635,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Solid Biosciences by 9.2% in the 3rd quarter. State Street Corp now owns 441,540 shares of the company's stock valued at $3,078,000 after purchasing an additional 37,130 shares during the period. Barclays PLC boosted its position in shares of Solid Biosciences by 412.1% during the third quarter. Barclays PLC now owns 62,856 shares of the company's stock valued at $439,000 after buying an additional 50,582 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in shares of Solid Biosciences during the 4th quarter valued at about $34,000. Rhumbline Advisers increased its holdings in Solid Biosciences by 10.5% during the 4th quarter. Rhumbline Advisers now owns 43,677 shares of the company's stock valued at $175,000 after purchasing an additional 4,161 shares during the period. Finally, Quantum Private Wealth LLC boosted its position in shares of Solid Biosciences by 81.8% during the fourth 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 in the last quarter. Institutional investors and hedge funds own 81.46% of the company's stock.

Wall Street Analyst Weigh In

SLDB has been the topic of several research analyst reports. Chardan Capital reiterated a "buy" rating and issued a $16.00 price target on shares of Solid Biosciences in a research note on Friday, March 7th. Truist Financial began coverage on shares of Solid Biosciences in a research report on Wednesday, January 8th. They issued a "buy" rating and a $16.00 price objective for the company. JPMorgan Chase & Co. cut their price objective on shares of Solid Biosciences from $12.00 to $11.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Finally, HC Wainwright boosted their price objective on Solid Biosciences from $16.00 to $20.00 and gave the company a "buy" rating in a report on Monday, March 10th. Eight equities research analysts have rated the stock with a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $15.67.

Solid Biosciences Trading Down 10.1 %

Shares of NASDAQ:SLDB traded down $0.37 during trading on Friday, hitting $3.30. 1,024,110 shares of the company's stock were exchanged, compared to its average volume of 933,585. Solid Biosciences Inc. has a 1-year low of $2.45 and a 1-year high of $10.99. The firm has a market cap of $255.73 million, a P/E ratio of -1.09 and a beta of 2.07. The firm has a 50-day moving average price of $4.24 and a two-hundred day moving average price of $4.52.

Solid Biosciences 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.