195,403 Shares in Solid Biosciences Inc. $SLDB Acquired by Stempoint Capital LP

Stempoint Capital LP bought a new stake in Solid Biosciences Inc. (NASDAQ:SLDB) during the first quarter, HoldingsChannel reports. The institutional investor bought 195,403 shares of the company’s stock, valued at approximately $1,407,000.

Other large investors also recently added to or reduced their stakes in the company. MetLife Investment Management LLC grew its stake in shares of Solid Biosciences by 10.4% in the fourth quarter. MetLife Investment Management LLC now owns 33,202 shares of the company’s stock valued at $187,000 after buying an additional 3,124 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Solid Biosciences by 208.6% in the 2nd quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock valued at $29,000 after buying an additional 4,063 shares during the period. Intech Investment Management LLC lifted its stake in Solid Biosciences by 15.2% during the 4th quarter. Intech Investment Management LLC now owns 34,485 shares of the company’s stock worth $194,000 after acquiring an additional 4,539 shares in the last quarter. Russell Investments Group Ltd. lifted its stake 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 acquiring an additional 5,991 shares in the last quarter. Finally, Fox Run Management L.L.C. boosted its holdings in Solid Biosciences by 35.1% during the 4th quarter. Fox Run Management L.L.C. now owns 25,005 shares of the company’s stock valued at $141,000 after acquiring an additional 6,491 shares during the period. 81.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wedbush dropped their target price on Solid Biosciences from $17.00 to $16.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. HC Wainwright raised their price objective on shares of Solid Biosciences from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. Truist Financial upgraded shares of Solid Biosciences to a “strong-buy” rating in a report on Monday, April 27th. Wall Street Zen raised shares of Solid Biosciences from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 4th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Solid Biosciences in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Solid Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $17.11.

Solid Biosciences Stock Performance

SLDB stock opened at $8.04 on Thursday. The company’s 50 day moving average price is $8.34 and its 200 day moving average price is $7.41. The firm has a market capitalization of $791.54 million, a price-to-earnings ratio of -4.12 and a beta of 2.36. Solid Biosciences Inc. has a fifty-two week low of $3.79 and a fifty-two week high of $11.45.

Solid Biosciences (NASDAQ:SLDB) last issued its quarterly 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 -1.9 EPS for the current fiscal year.

About Solid Biosciences

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.