Los Angeles Capital Management LLC Invests $293,000 in Solid Biosciences Inc. (NASDAQ:SLDB)

Los Angeles Capital Management LLC bought a new position in shares of Solid Biosciences Inc. (NASDAQ:SLDB) in the 3rd quarter, Holdings Channel reports. The fund bought 42,059 shares of the company’s stock, valued at approximately $293,000.

Other hedge funds have also made changes to their positions in the company. Point72 DIFC Ltd acquired a new stake in shares of Solid Biosciences during the second quarter worth about $58,000. Ground Swell Capital LLC acquired a new stake in shares of Solid Biosciences during the second quarter worth about $76,000. Algert Global LLC acquired a new stake in shares of Solid Biosciences during the second quarter worth about $82,000. Susquehanna Fundamental Investments LLC acquired a new stake in Solid Biosciences in the second quarter valued at about $92,000. Finally, Rhumbline Advisers acquired a new stake in Solid Biosciences in the second quarter valued at about $191,000. Institutional investors and hedge funds own 81.46% of the company’s stock.

Solid Biosciences Trading Down 8.7 %

Shares of Solid Biosciences stock opened at $4.85 on Monday. Solid Biosciences Inc. has a 12-month low of $2.21 and a 12-month high of $15.05. The stock has a market cap of $193.78 million, a PE ratio of -1.60 and a beta of 1.92. The company has a 50-day moving average of $6.54 and a two-hundred day moving average of $7.62.

Solid Biosciences (NASDAQ:SLDB) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.12). On average, sell-side analysts forecast that Solid Biosciences Inc. will post -2.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. HC Wainwright restated a “buy” rating and issued a $16.00 price objective on shares of Solid Biosciences in a research report on Thursday, November 7th. JPMorgan Chase & Co. reduced their price objective on shares of Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Chardan Capital restated a “buy” rating and issued a $15.00 price objective on shares of Solid Biosciences in a research report on Monday, November 11th. William Blair upgraded shares of Solid Biosciences to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Barclays reduced their price objective on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Solid Biosciences currently has an average rating of “Buy” and a consensus price target of $15.14.

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.