Monashee Investment Management LLC Takes Position in Solid Biosciences Inc. $SLDB

Monashee Investment Management LLC acquired a new stake in Solid Biosciences Inc. (NASDAQ:SLDB) during the 4th quarter, Holdings Channel reports. The firm acquired 1,349,771 shares of the company’s stock, valued at approximately $7,613,000. Solid Biosciences comprises approximately 4.3% of Monashee Investment Management LLC’s portfolio, making the stock its 10th largest position.

Several other large investors have also made changes to their positions in SLDB. AQR Capital Management LLC purchased a new position in shares of Solid Biosciences in the first quarter valued at about $418,000. Goldman Sachs Group Inc. lifted its position in shares of Solid Biosciences by 32.2% in the first quarter. Goldman Sachs Group Inc. now owns 180,137 shares of the company’s stock valued at $667,000 after acquiring an additional 43,910 shares in the last quarter. Woodline Partners LP purchased a new position in shares of Solid Biosciences in the first quarter valued at about $2,338,000. Creative Planning purchased a new position in shares of Solid Biosciences in the second quarter valued at about $57,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Solid Biosciences by 111.1% in the second quarter. JPMorgan Chase & Co. now owns 34,379 shares of the company’s stock valued at $167,000 after acquiring an additional 18,094 shares in the last quarter. 81.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SLDB shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 target price on shares of Solid Biosciences in a report on Friday, March 20th. Truist Financial raised Solid Biosciences to a “strong-buy” rating in a report on Monday, April 27th. JPMorgan Chase & Co. lifted their target price on Solid Biosciences from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Wednesday, March 25th. Wedbush reduced their price objective 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. Finally, Guggenheim assumed coverage on Solid Biosciences in a research note on Friday, March 20th. They set a “buy” rating and a $26.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Solid Biosciences Stock Performance

SLDB opened at $7.22 on Friday. The stock has a market cap of $710.81 million, a price-to-earnings ratio of -3.70 and a beta of 2.43. 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 one year low of $3.79 and a one year high of $8.87.

Solid Biosciences (NASDAQ:SLDB) last released its earnings results on Tuesday, May 12th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.12). As a group, analysts predict that Solid Biosciences Inc. will post -1.9 earnings per share 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.