MPM Bioimpact LLC Invests $6.08 Million in Solid Biosciences Inc. $SLDB

MPM Bioimpact LLC acquired a new position in shares of Solid Biosciences Inc. (NASDAQ:SLDB) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,642,356 shares of the company’s stock, valued at approximately $6,077,000. MPM Bioimpact LLC owned 2.12% of Solid Biosciences as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. CWM LLC lifted its stake in Solid Biosciences by 15,188.5% during the 1st quarter. CWM LLC now owns 7,950 shares of the company’s stock valued at $29,000 after acquiring an additional 7,898 shares in the last quarter. Corton Capital Inc. bought a new stake in shares of Solid Biosciences during the 4th quarter worth $41,000. Ground Swell Capital LLC bought a new stake in shares of Solid Biosciences during the 1st quarter worth $42,000. Invesco Ltd. bought a new stake in Solid Biosciences in the 4th quarter valued at about $49,000. Finally, Wells Fargo & Company MN raised its stake in Solid Biosciences by 29.4% in the 4th quarter. Wells Fargo & Company MN now owns 13,138 shares of the company’s stock valued at $53,000 after acquiring an additional 2,986 shares during the period. 81.46% of the stock is currently owned by institutional investors.

Solid Biosciences Stock Down 2.5%

Shares of NASDAQ:SLDB opened at $5.48 on Tuesday. The stock has a market cap of $426.73 million, a price-to-earnings ratio of -1.96 and a beta of 2.54. Solid Biosciences Inc. has a 52-week low of $2.41 and a 52-week high of $9.37. The business has a 50-day moving average price of $5.85 and a 200-day moving average price of $4.63.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.09. As a group, equities analysts anticipate that Solid Biosciences Inc. will post -2.84 EPS for the current fiscal year.

Analysts Set New Price Targets

SLDB has been the subject of a number of recent analyst reports. Piper Sandler reduced their target price on Solid Biosciences from $20.00 to $17.00 and set an “overweight” rating for the company in a report on Friday, May 16th. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of Solid Biosciences in a research report on Tuesday, June 17th. Wall Street Zen raised Solid Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Chardan Capital reaffirmed a “buy” rating and issued a $15.00 price target on shares of Solid Biosciences in a research note on Thursday, August 14th. Finally, JMP Securities reissued a “market outperform” rating and issued a $15.00 target price on shares of Solid Biosciences in a research note on Friday, June 6th. One research analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $15.00.

Solid Biosciences Company 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.