Point72 DIFC Ltd Purchases Shares of 10,206 Solid Biosciences Inc. (NASDAQ:SLDB)

Point72 DIFC Ltd bought a new position in shares of Solid Biosciences Inc. (NASDAQ:SLDB) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 10,206 shares of the company’s stock, valued at approximately $58,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Solid Biosciences by 283.9% during the 1st quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock valued at $16,578,000 after buying an additional 920,404 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of Solid Biosciences during the first quarter worth $23,935,000. Acadian Asset Management LLC purchased a new position in Solid Biosciences during the second quarter valued at $379,000. Bank of New York Mellon Corp bought a new stake in Solid Biosciences in the 2nd quarter valued at $392,000. Finally, Ground Swell Capital LLC purchased a new stake in Solid Biosciences in the 2nd quarter worth $76,000. Institutional investors own 81.46% of the company’s stock.

Solid Biosciences Stock Performance

Shares of Solid Biosciences stock opened at $6.62 on Thursday. The stock has a market cap of $255.53 million, a price-to-earnings ratio of -1.68 and a beta of 1.92. The stock has a 50 day moving average price of $8.26 and a 200-day moving average price of $8.84. Solid Biosciences Inc. has a one year low of $1.81 and a one year high of $15.05.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.61) EPS for the quarter, topping the consensus estimate of ($0.66) by $0.05. Sell-side analysts predict that Solid Biosciences Inc. will post -2.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Piper Sandler restated an “overweight” rating and set a $20.00 price objective on shares of Solid Biosciences in a research report on Friday, June 21st. Barclays reduced their price objective on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 14th. Leerink Partnrs upgraded Solid Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 24th. JPMorgan Chase & Co. upgraded shares of Solid Biosciences from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $10.00 to $15.00 in a research report on Monday, July 15th. Finally, HC Wainwright reiterated a “buy” rating and set a $16.00 price objective on shares of Solid Biosciences in a research report on Wednesday, August 14th. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $15.67.

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.