Solid Biosciences Inc. $SLDB Shares Purchased by Perceptive Advisors LLC

Perceptive Advisors LLC lifted its position in Solid Biosciences Inc. (NASDAQ:SLDB) by 0.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,906,646 shares of the company’s stock after purchasing an additional 73,107 shares during the quarter. Solid Biosciences comprises about 1.7% of Perceptive Advisors LLC’s holdings, making the stock its 19th biggest holding. Perceptive Advisors LLC owned approximately 12.09% of Solid Biosciences worth $85,728,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legal & General Group Plc raised its stake in Solid Biosciences by 208.6% during the second quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock worth $29,000 after purchasing an additional 4,063 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Solid Biosciences by 142.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 10,211 shares of the company’s stock valued at $63,000 after buying an additional 5,991 shares during the period. Creative Planning purchased a new stake in shares of Solid Biosciences in the 2nd quarter valued at approximately $57,000. Polymer Capital Management US LLC acquired a new stake in shares of Solid Biosciences during the 3rd quarter worth approximately $94,000. Finally, Jain Global LLC acquired a new stake in shares of Solid Biosciences during the 4th quarter worth approximately $114,000. 81.46% of the stock is currently owned by institutional investors and hedge funds.

Solid Biosciences Stock Performance

Solid Biosciences stock opened at $8.06 on Friday. The company’s 50 day simple moving average is $8.41 and its 200-day simple moving average is $7.44. The company has a market capitalization of $793.51 million, a price-to-earnings ratio of -4.13 and a beta of 2.36. Solid Biosciences Inc. has a 1 year low of $3.79 and a 1 year high of $11.45.

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

Analysts Set New Price Targets

A number of research firms recently commented on SLDB. HC Wainwright upped their price objective on Solid Biosciences from $20.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Piper Sandler reissued an “overweight” rating and set a $18.00 target price (up from $17.00) on shares of Solid Biosciences in a research note on Wednesday, May 13th. Wedbush reduced their target price on Solid Biosciences from $17.00 to $16.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Solid Biosciences in a research report on Friday, July 17th. Finally, Wall Street Zen raised Solid Biosciences from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 4th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.11.

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.