Fisher Asset Management LLC Makes New Investment in Solid Biosciences Inc. $SLDB

Fisher Asset Management LLC acquired a new position in shares of Solid Biosciences Inc. (NASDAQ:SLDB) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 103,481 shares of the company’s stock, valued at approximately $584,000.

Several other large investors have also recently bought and sold shares of the company. Quantum Private Wealth LLC lifted its holdings in Solid Biosciences by 3.9% during the 3rd quarter. Quantum Private Wealth LLC now owns 94,231 shares of the company’s stock worth $581,000 after buying an additional 3,500 shares in the last quarter. Legal & General Group Plc lifted its holdings in Solid Biosciences by 208.6% during the 2nd quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock worth $29,000 after buying an additional 4,063 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Solid Biosciences by 142.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 10,211 shares of the company’s stock worth $63,000 after buying an additional 5,991 shares in the last quarter. Creative Planning acquired a new position in Solid Biosciences during the 2nd quarter worth $57,000. Finally, Bridgeway Capital Management LLC lifted its holdings in Solid Biosciences by 18.0% during the 2nd quarter. Bridgeway Capital Management LLC now owns 98,531 shares of the company’s stock worth $480,000 after buying an additional 15,000 shares in the last quarter. Institutional investors and hedge funds own 81.46% of the company’s stock.

Solid Biosciences Stock Performance

SLDB opened at $7.34 on Friday. Solid Biosciences Inc. has a 52 week low of $3.07 and a 52 week high of $8.87. The firm has a market capitalization of $722.62 million, a PE ratio of -3.76 and a beta of 2.47. The company has a fifty day moving average price of $7.42 and a two-hundred day moving average price of $6.42.

Solid Biosciences (NASDAQ:SLDB) last issued its earnings results on Tuesday, May 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.12). Equities analysts forecast that Solid Biosciences Inc. will post -1.81 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on SLDB shares. Wall Street Zen cut Solid Biosciences from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. Wedbush dropped their price objective on Solid Biosciences from $17.00 to $16.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Needham & Company LLC reissued a “buy” rating and set a $19.00 price objective on shares of Solid Biosciences in a report on Friday, March 20th. JPMorgan Chase & Co. boosted their price objective on Solid Biosciences from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Wednesday, March 25th. Finally, Guggenheim began coverage on Solid Biosciences in a report on Friday, March 20th. They set a “buy” rating and a $26.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Solid Biosciences has an average rating of “Moderate Buy” and a consensus target price of $16.36.

Solid Biosciences Profile

Solid Biosciences Inc is a clinical‐stage biotechnology company focused on the development of therapies for Duchenne muscular dystrophy (DMD), a rare genetic disorder characterized by progressive muscle degeneration. The company’s primary approach centers on gene replacement and gene editing technologies designed to restore functional dystrophin protein in patients lacking this critical muscle‐stabilizing protein.

Solid’s lead investigational therapy, SGT‐001, is a micro‐dystrophin gene therapy candidate engineered to deliver a shortened but functional form of the dystrophin gene using an adeno‐associated virus (AAV) vector.