Solid Biosciences Inc. $SLDB Holdings Lifted by UBS Group AG

UBS Group AG increased its holdings in shares of Solid Biosciences Inc. (NASDAQ:SLDB) by 25.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 911,409 shares of the company’s stock after purchasing an additional 187,264 shares during the quarter. UBS Group AG’s holdings in Solid Biosciences were worth $5,140,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. SG Americas Securities LLC purchased a new position in shares of Solid Biosciences during the fourth quarter valued at $118,000. CIBC Bancorp USA Inc. purchased a new position in shares of Solid Biosciences during the third quarter valued at $228,000. Armistice Capital LLC grew its stake in Solid Biosciences by 134.0% in the third quarter. Armistice Capital LLC now owns 936,000 shares of the company’s stock valued at $5,775,000 after purchasing an additional 536,000 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in Solid Biosciences by 2.6% in the third quarter. Alyeska Investment Group L.P. now owns 1,682,805 shares of the company’s stock valued at $10,383,000 after purchasing an additional 41,984 shares in the last quarter. Finally, Vestal Point Capital LP grew its stake in Solid Biosciences by 97.7% in the third quarter. Vestal Point Capital LP now owns 2,975,000 shares of the company’s stock valued at $18,356,000 after purchasing an additional 1,470,000 shares in the last quarter. Hedge funds and other institutional investors own 81.46% of the company’s stock.

Analysts Set New Price Targets

SLDB has been the topic of a number of recent research reports. Truist Financial upgraded Solid Biosciences to a “strong-buy” rating in a research note on Monday, April 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Solid Biosciences in a research note on Tuesday, April 21st. Needham & Company LLC restated a “buy” rating and issued a $19.00 target price on shares of Solid Biosciences in a research note on Friday, March 20th. Guggenheim initiated coverage on Solid Biosciences in a research note on Friday, March 20th. They issued a “buy” rating and a $26.00 target price on the stock. Finally, Wall Street Zen downgraded Solid Biosciences from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $16.36.

Solid Biosciences Price Performance

Shares of NASDAQ SLDB opened at $6.50 on Friday. The company has a market capitalization of $639.93 million, a P/E ratio of -3.33 and a beta of 2.47. The business’s 50-day moving average price is $7.49 and its two-hundred day moving average price is $6.33. Solid Biosciences Inc. has a one year low of $2.68 and a one year high of $8.87.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.12). On average, equities analysts anticipate that Solid Biosciences Inc. will post -1.78 EPS for the current year.

About Solid Biosciences

Solid Biosciences Inc is a clinical‐stage biotechnology company focused on the development of therapies for Duchenne muscular dystrophy (DMD), a rare genetic disorder characterized by progressive muscle degeneration. The company’s primary approach centers on gene replacement and gene editing technologies designed to restore functional dystrophin protein in patients lacking this critical muscle‐stabilizing protein.

Solid’s lead investigational therapy, SGT‐001, is a micro‐dystrophin gene therapy candidate engineered to deliver a shortened but functional form of the dystrophin gene using an adeno‐associated virus (AAV) vector.