Monashee Investment Management LLC Makes New $7.61 Million Investment in Solid Biosciences Inc. $SLDB

Monashee Investment Management LLC bought a new position in Solid Biosciences Inc. (NASDAQ:SLDB) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,349,771 shares of the company’s stock, valued at approximately $7,613,000. Solid Biosciences makes up approximately 4.3% of Monashee Investment Management LLC’s investment portfolio, making the stock its 10th largest holding. Monashee Investment Management LLC owned about 1.73% of Solid Biosciences as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vestal Point Capital LP increased its holdings in shares of Solid Biosciences by 97.7% in the 3rd quarter. Vestal Point Capital LP now owns 2,975,000 shares of the company’s stock worth $18,356,000 after purchasing an additional 1,470,000 shares in the last quarter. Nantahala Capital Management LLC increased its holdings in shares of Solid Biosciences by 505.4% in the 2nd quarter. Nantahala Capital Management LLC now owns 1,703,336 shares of the company’s stock worth $8,295,000 after purchasing an additional 1,421,968 shares in the last quarter. Alyeska Investment Group L.P. increased its holdings in shares of Solid Biosciences by 2.6% in the 3rd quarter. Alyeska Investment Group L.P. now owns 1,682,805 shares of the company’s stock worth $10,383,000 after purchasing an additional 41,984 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Solid Biosciences by 48.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,006,306 shares of the company’s stock worth $5,676,000 after purchasing an additional 329,679 shares in the last quarter. Finally, Armistice Capital LLC increased its holdings in shares of Solid Biosciences by 134.0% in the 3rd quarter. Armistice Capital LLC now owns 936,000 shares of the company’s stock worth $5,775,000 after purchasing an additional 536,000 shares in the last quarter. Institutional investors own 81.46% of the company’s stock.

Analyst Upgrades and Downgrades

SLDB has been the subject of a number of research analyst reports. Chardan Capital reissued a “buy” rating and issued a $15.00 target price on shares of Solid Biosciences in a report on Friday, March 20th. Wedbush dropped their price target on Solid Biosciences from $17.00 to $16.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Piper Sandler restated an “overweight” rating and issued a $18.00 price target (up from $17.00) on shares of Solid Biosciences in a research note on Wednesday, May 13th. Guggenheim assumed coverage on Solid Biosciences in a research note on Friday, March 20th. They issued a “buy” rating and a $26.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price target on Solid Biosciences from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Solid Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

Solid Biosciences Stock Up 9.2%

NASDAQ SLDB opened at $7.22 on Friday. The stock’s 50-day moving average price is $7.37 and its 200-day moving average price is $6.59. Solid Biosciences Inc. has a 52 week low of $3.79 and a 52 week high of $8.87. The company has a market capitalization of $710.81 million, a P/E ratio of -3.70 and a beta of 2.43.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings data 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 anticipate that Solid Biosciences Inc. will post -1.9 EPS for the current 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.