Sherbrooke Park Advisers LLC Sells 18,516 Shares of Solid Biosciences Inc. (NASDAQ:SLDB)

Sherbrooke Park Advisers LLC reduced its stake in Solid Biosciences Inc. (NASDAQ:SLDB) by 54.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,768 shares of the company’s stock after selling 18,516 shares during the quarter. Sherbrooke Park Advisers LLC’s holdings in Solid Biosciences were worth $63,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in Solid Biosciences by 9,393.8% in the 4th quarter. JPMorgan Chase & Co. now owns 955,932 shares of the company’s stock valued at $3,824,000 after acquiring an additional 945,863 shares in the last quarter. Renaissance Technologies LLC lifted its position in Solid Biosciences by 12.7% during the 4th quarter. Renaissance Technologies LLC now owns 82,493 shares of the company’s stock worth $330,000 after buying an additional 9,281 shares in the last quarter. Wellington Management Group LLP lifted its position in Solid Biosciences by 4.0% during the 4th quarter. Wellington Management Group LLP now owns 124,551 shares of the company’s stock worth $498,000 after buying an additional 4,747 shares in the last quarter. Rhumbline Advisers lifted its position in Solid Biosciences by 10.5% during the 4th quarter. Rhumbline Advisers now owns 43,677 shares of the company’s stock worth $175,000 after buying an additional 4,161 shares in the last quarter. Finally, Prudential Financial Inc. lifted its position in Solid Biosciences by 71.3% during the 4th quarter. Prudential Financial Inc. now owns 109,105 shares of the company’s stock worth $436,000 after buying an additional 45,400 shares in the last quarter. 81.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on SLDB. Cantor Fitzgerald raised shares of Solid Biosciences to a “strong-buy” rating in a research report on Tuesday, May 13th. Barclays cut their price target on shares of Solid Biosciences from $15.00 to $10.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. JPMorgan Chase & Co. cut their price target on shares of Solid Biosciences from $12.00 to $11.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Chardan Capital cut their price target on shares of Solid Biosciences from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Piper Sandler cut their price target on shares of Solid Biosciences from $20.00 to $17.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. Nine investment analysts have rated the stock with a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $14.78.

Solid Biosciences Stock Performance

Shares of SLDB stock opened at $2.70 on Thursday. The firm’s 50-day moving average is $3.37 and its 200-day moving average is $4.16. The stock has a market cap of $209.26 million, a price-to-earnings ratio of -0.89 and a beta of 2.32. Solid Biosciences Inc. has a 52-week low of $2.41 and a 52-week high of $10.37.

Solid Biosciences (NASDAQ:SLDB) last issued its earnings results on Thursday, May 15th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.06). Sell-side analysts predict that Solid Biosciences Inc. will post -2.84 EPS for the current fiscal year.

Solid Biosciences Profile

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.