State Street Corp Increases Stock Holdings in Solid Biosciences Inc. (NASDAQ:SLDB)

State Street Corp increased its holdings in shares of Solid Biosciences Inc. (NASDAQ:SLDB) by 9.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 441,540 shares of the company’s stock after buying an additional 37,130 shares during the quarter. State Street Corp’s holdings in Solid Biosciences were worth $3,078,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Point72 DIFC Ltd acquired a new position in Solid Biosciences during the second quarter worth approximately $58,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Solid Biosciences during the 3rd quarter worth $71,000. Ground Swell Capital LLC purchased a new position in shares of Solid Biosciences in the 2nd quarter worth $76,000. Algert Global LLC acquired a new position in Solid Biosciences in the second quarter valued at $82,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Solid Biosciences during the second quarter valued at about $92,000. Hedge funds and other institutional investors own 81.46% of the company’s stock.

Analyst Ratings Changes

SLDB has been the topic of several research analyst reports. Citizens Jmp raised Solid Biosciences to a “strong-buy” rating in a research note on Tuesday, December 10th. JMP Securities assumed coverage on shares of Solid Biosciences in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $15.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price target on shares of Solid Biosciences in a research report on Thursday, December 12th. Wedbush assumed coverage on Solid Biosciences in a research report on Friday, December 13th. They issued an “outperform” rating and a $16.00 price objective on the stock. Finally, JPMorgan Chase & Co. decreased their target price on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Eight analysts have rated the stock with a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $15.22.

Solid Biosciences Price Performance

Solid Biosciences stock opened at $4.00 on Wednesday. Solid Biosciences Inc. has a 12 month low of $3.85 and a 12 month high of $15.05. The company has a fifty day moving average price of $5.16 and a two-hundred day moving average price of $6.75. The company has a market cap of $159.82 million, a PE ratio of -1.32 and a beta of 2.01.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.12). Equities research analysts anticipate that Solid Biosciences Inc. will post -2.85 earnings per share for the current year.

Insider Buying and Selling at Solid Biosciences

In other news, CEO Alexander Cumbo sold 11,114 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total transaction of $62,238.40. Following the completion of the transaction, the chief executive officer now owns 38,484 shares of the company’s stock, valued at approximately $215,510.40. The trade was a 22.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO David T. Howton sold 5,072 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total transaction of $28,403.20. Following the transaction, the chief operating officer now owns 15,663 shares of the company’s stock, valued at $87,712.80. This represents a 24.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,719 shares of company stock worth $135,457 over the last ninety days. Company insiders own 13.63% of the company’s stock.

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.