Wellington Management Group LLP Grows Position in Solid Biosciences Inc. (NASDAQ:SLDB)

Wellington Management Group LLP raised its holdings in Solid Biosciences Inc. (NASDAQ:SLDB) by 183.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 119,804 shares of the company’s stock after purchasing an additional 77,564 shares during the period. Wellington Management Group LLP owned 0.30% of Solid Biosciences worth $835,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Millennium Management LLC grew its stake in Solid Biosciences by 135.7% in the 2nd quarter. Millennium Management LLC now owns 1,728,065 shares of the company’s stock valued at $9,798,000 after buying an additional 994,984 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Solid Biosciences by 292.8% in the third quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company’s stock worth $3,088,000 after acquiring an additional 330,234 shares during the period. Marshall Wace LLP purchased a new position in shares of Solid Biosciences in the second quarter valued at $1,554,000. Renaissance Technologies LLC raised its stake in shares of Solid Biosciences by 303.6% during the 2nd quarter. Renaissance Technologies LLC now owns 277,564 shares of the company’s stock valued at $1,574,000 after purchasing an additional 208,793 shares during the period. Finally, Vestal Point Capital LP lifted its holdings in Solid Biosciences by 5.1% during the 3rd quarter. Vestal Point Capital LP now owns 2,800,000 shares of the company’s stock worth $19,516,000 after purchasing an additional 135,000 shares in the last quarter. Institutional investors own 81.46% of the company’s stock.

Solid Biosciences Stock Down 0.5 %

NASDAQ SLDB opened at $4.01 on Friday. The stock’s 50-day simple moving average is $5.49 and its two-hundred day simple moving average is $6.98. Solid Biosciences Inc. has a twelve month low of $3.93 and a twelve month high of $15.05. The company has a market capitalization of $160.22 million, a price-to-earnings ratio of -1.32 and a beta of 2.01.

Solid Biosciences (NASDAQ:SLDB) last released its earnings results 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, equities analysts expect that Solid Biosciences Inc. will post -2.85 earnings per share for the current fiscal year.

Insider Transactions at Solid Biosciences

In related news, insider Jessie Hanrahan sold 4,610 shares of Solid Biosciences stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total value of $25,816.00. Following the transaction, the insider now owns 14,235 shares in the company, valued at $79,716. This trade represents a 24.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Alexander Cumbo sold 11,114 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total transaction of $62,238.40. Following the completion of the sale, the chief executive officer now directly owns 38,484 shares of the company’s stock, valued at $215,510.40. This represents a 22.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,719 shares of company stock worth $135,457. 13.63% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their price target on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Citizens Jmp raised shares of Solid Biosciences to a “strong-buy” rating in a report on Tuesday, December 10th. Chardan Capital reissued a “buy” rating and issued a $15.00 price target on shares of Solid Biosciences in a report on Monday, November 11th. William Blair raised shares of Solid Biosciences to a “strong-buy” rating in a report on Friday, August 30th. Finally, HC Wainwright reiterated a “buy” rating and issued a $16.00 price objective on shares of Solid Biosciences in a research report on Thursday, December 12th. Eight equities research analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, Solid Biosciences presently has an average rating of “Buy” and an average price target of $15.22.

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.