Barclays PLC Acquires 50,582 Shares of Solid Biosciences Inc. (NASDAQ:SLDB)

Barclays PLC lifted its holdings in shares of Solid Biosciences Inc. (NASDAQ:SLDB) by 412.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 62,856 shares of the company’s stock after acquiring an additional 50,582 shares during the quarter. Barclays PLC owned approximately 0.16% of Solid Biosciences worth $439,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SLDB. XTX Topco Ltd acquired a new position in Solid Biosciences in the 3rd quarter valued at about $121,000. Wellington Management Group LLP grew its position in shares of Solid Biosciences by 183.6% in the third quarter. Wellington Management Group LLP now owns 119,804 shares of the company’s stock valued at $835,000 after purchasing an additional 77,564 shares during the last quarter. State Street Corp increased its stake in shares of Solid Biosciences by 9.2% during the third quarter. State Street Corp now owns 441,540 shares of the company’s stock worth $3,078,000 after purchasing an additional 37,130 shares during the period. Point72 Asset Management L.P. lifted its holdings in Solid Biosciences by 292.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company’s stock worth $3,088,000 after purchasing an additional 330,234 shares during the last quarter. Finally, Vestal Point Capital LP boosted its stake in Solid Biosciences by 5.1% in the 3rd quarter. Vestal Point Capital LP now owns 2,800,000 shares of the company’s stock valued at $19,516,000 after purchasing an additional 135,000 shares during the period. 81.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SLDB shares. Wedbush assumed coverage on shares of Solid Biosciences in a research note on Friday, December 13th. They issued an “outperform” rating and a $16.00 price target on the stock. Citizens Jmp raised shares of Solid Biosciences to a “strong-buy” rating in a report on Tuesday, December 10th. Chardan Capital reiterated a “buy” rating and issued a $15.00 price target on shares of Solid Biosciences in a research note on Monday, November 11th. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Solid Biosciences in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. reduced their target price on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a 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.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $15.22.

Solid Biosciences Price Performance

NASDAQ:SLDB opened at $4.14 on Friday. Solid Biosciences Inc. has a one year low of $3.85 and a one year high of $15.05. The firm’s 50 day simple moving average is $5.06 and its 200 day simple moving average is $6.69. The company has a market cap of $165.41 million, a PE ratio of -1.36 and a beta of 2.01.

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 the consensus estimate of ($0.67) by ($0.12). Equities research analysts expect that Solid Biosciences Inc. will post -2.85 EPS for the current year.

Insider Buying and Selling at Solid Biosciences

In related news, COO David T. Howton sold 5,072 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 transaction of $28,403.20. Following the completion of the transaction, the chief operating officer now owns 15,663 shares of the company’s stock, valued at $87,712.80. This trade represents a 24.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jessie Hanrahan sold 4,610 shares of the company’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 $25,816.00. Following the sale, the insider now directly owns 14,235 shares in the company, valued at $79,716. This trade represents a 24.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,719 shares of company stock worth $135,457. Insiders own 13.63% of the company’s stock.

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.