Solid Biosciences Inc. $SLDB Holdings Lifted by Monashee Investment Management LLC

Monashee Investment Management LLC increased its position in Solid Biosciences Inc. (NASDAQ:SLDB) by 5.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,420,295 shares of the company’s stock after buying an additional 70,524 shares during the period. Solid Biosciences accounts for about 5.6% of Monashee Investment Management LLC’s holdings, making the stock its 6th largest holding. Monashee Investment Management LLC’s holdings in Solid Biosciences were worth $10,226,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in Solid Biosciences by 40.8% during the first quarter. Dimensional Fund Advisors LP now owns 956,135 shares of the company’s stock valued at $6,877,000 after acquiring an additional 277,051 shares during the period. Hsbc Holdings PLC raised its holdings in shares of Solid Biosciences by 78.4% in the 1st quarter. Hsbc Holdings PLC now owns 39,511 shares of the company’s stock worth $284,000 after purchasing an additional 17,360 shares during the period. Invesco Ltd. raised its holdings in shares of Solid Biosciences by 29.6% in the 4th quarter. Invesco Ltd. now owns 152,126 shares of the company’s stock worth $858,000 after purchasing an additional 34,758 shares during the period. XTX Topco Ltd acquired a new position in shares of Solid Biosciences in the 4th quarter valued at about $201,000. Finally, Vestal Point Capital LP lifted its stake in shares of Solid Biosciences by 95.5% in the 4th quarter. Vestal Point Capital LP now owns 5,815,000 shares of the company’s stock valued at $32,797,000 after purchasing an additional 2,840,000 shares in the last quarter. Institutional investors and hedge funds own 81.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on SLDB shares. HC Wainwright increased their target price on shares of Solid Biosciences from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Truist Financial raised shares of Solid Biosciences to a “strong-buy” rating in a research report on Monday, April 27th. Wedbush decreased their price objective on shares of Solid Biosciences from $17.00 to $16.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Piper Sandler reiterated an “overweight” rating and set a $18.00 price objective (up from $17.00) on shares of Solid Biosciences in a research note on Wednesday, May 13th. Finally, JPMorgan Chase & Co. raised their target price on shares of Solid Biosciences from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Solid Biosciences has an average rating of “Moderate Buy” and an average target price of $17.11.

Solid Biosciences Price Performance

Shares of NASDAQ SLDB opened at $8.10 on Thursday. Solid Biosciences Inc. has a 1-year low of $3.79 and a 1-year high of $11.45. The business has a 50-day moving average of $8.22 and a 200-day moving average of $7.32. The company has a market capitalization of $797.45 million, a price-to-earnings ratio of -4.15 and a beta of 2.36.

Solid Biosciences (NASDAQ:SLDB) last announced its earnings results on Tuesday, May 12th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.12). Research analysts expect that Solid Biosciences Inc. will post -1.9 EPS for the current fiscal year.

Solid Biosciences Company 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.