Solid Biosciences Inc. (NASDAQ:SLDB) Shares Sold by ADAR1 Capital Management LLC

ADAR1 Capital Management LLC cut its position in shares of Solid Biosciences Inc. (NASDAQ:SLDB) by 87.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 148,903 shares of the company’s stock after selling 996,689 shares during the period. ADAR1 Capital Management LLC owned approximately 0.37% of Solid Biosciences worth $596,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company purchased a new stake in Solid Biosciences in the third quarter valued at $71,000. FMR LLC acquired a new position in Solid Biosciences during the third quarter valued at approximately $305,000. MetLife Investment Management LLC increased its holdings in Solid Biosciences by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 13,699 shares of the company’s stock worth $95,000 after purchasing an additional 7,719 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Solid Biosciences by 292.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company’s stock valued at $3,088,000 after acquiring an additional 330,234 shares in the last quarter. Finally, State Street Corp increased its position in Solid Biosciences by 9.2% in the 3rd quarter. State Street Corp now owns 441,540 shares of the company’s stock valued at $3,078,000 after acquiring an additional 37,130 shares during the period. 81.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on SLDB shares. JMP Securities began coverage on shares of Solid Biosciences in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $15.00 price objective for the company. HC Wainwright raised their price objective on shares of Solid Biosciences from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Truist Financial assumed coverage on Solid Biosciences in a research note on Wednesday, January 8th. They issued a “buy” rating and a $16.00 target price for the company. Wedbush began coverage on shares of Solid Biosciences in a report on Friday, December 13th. They set an “outperform” rating and a $16.00 price objective for the company. Finally, Citizens Jmp raised Solid Biosciences to a “strong-buy” rating in a research note on Tuesday, December 10th. Eight analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $15.67.

Solid Biosciences Stock Down 8.2 %

SLDB stock opened at $3.12 on Monday. Solid Biosciences Inc. has a twelve month low of $2.88 and a twelve month high of $12.32. The business’s 50-day moving average price is $4.44 and its 200-day moving average price is $4.98. The stock has a market cap of $241.78 million, a P/E ratio of -1.03 and a beta of 2.07.

About Solid Biosciences

Solid Biosciences Inc, a life science company, develops therapies for neuromuscular and cardiac diseases in the United States. The company's lead product candidate is SGT-003, a gene transfer candidate for the treatment of Duchenne muscular dystrophy; and SGT-501 to treat Catecholaminergic polymorphic ventricular tachycardia.