Perceptive Advisors LLC Raises Stock Position in Solid Biosciences Inc. $SLDB

Perceptive Advisors LLC grew its holdings in Solid Biosciences Inc. (NASDAQ:SLDB) by 0.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,906,646 shares of the company’s stock after purchasing an additional 73,107 shares during the quarter. Solid Biosciences accounts for about 1.7% of Perceptive Advisors LLC’s holdings, making the stock its 19th biggest holding. Perceptive Advisors LLC owned about 0.12% of Solid Biosciences worth $85,728,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Legal & General Group Plc increased its stake in Solid Biosciences by 208.6% during the 2nd quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock worth $29,000 after buying an additional 4,063 shares during the period. Russell Investments Group Ltd. boosted its position in 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 position in Solid Biosciences in the 2nd quarter valued at approximately $57,000. Polymer Capital Management US LLC acquired a new position in shares of Solid Biosciences in the third quarter worth $94,000. Finally, Jain Global LLC acquired a new position in shares of Solid Biosciences in the fourth quarter worth $114,000. Institutional investors and hedge funds own 81.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. HC Wainwright upped their price objective on Solid Biosciences from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Wall Street Zen upgraded Solid Biosciences from a “strong sell” rating to a “sell” rating in a report on Saturday, July 4th. Truist Financial upgraded Solid Biosciences to a “strong-buy” rating in a report on Monday, April 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Biosciences in a research report on Friday, July 17th. Finally, Wedbush decreased their price objective on Solid Biosciences from $17.00 to $16.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. One equities 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, Solid Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $17.11.

Solid Biosciences Trading Down 5.1%

Solid Biosciences stock opened at $8.06 on Friday. The stock has a market cap of $793.51 million, a P/E ratio of -4.13 and a beta of 2.36. The company has a fifty day simple moving average of $8.41 and a 200-day simple moving average of $7.44. Solid Biosciences Inc. has a 12-month low of $3.79 and a 12-month high of $11.45.

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

Solid Biosciences Company 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.