Solid Biosciences Inc. (NASDAQ:SLDB) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers grew its stake in Solid Biosciences Inc. (NASDAQ:SLDB) by 10.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,677 shares of the company’s stock after buying an additional 4,161 shares during the period. Rhumbline Advisers owned 0.11% of Solid Biosciences worth $175,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SLDB. MetLife Investment Management LLC boosted its stake in Solid Biosciences by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 13,699 shares of the company’s stock worth $95,000 after purchasing an additional 7,719 shares during the period. China Universal Asset Management Co. Ltd. acquired a new stake in Solid Biosciences during the 4th quarter worth $34,000. The Manufacturers Life Insurance Company acquired a new stake in Solid Biosciences during the 3rd quarter worth $71,000. Valence8 US LP acquired a new stake in Solid Biosciences during the 3rd quarter worth $110,000. Finally, XTX Topco Ltd acquired a new stake in Solid Biosciences during the 3rd quarter worth $121,000. Institutional investors and hedge funds own 81.46% of the company’s stock.

Solid Biosciences Stock Down 6.1 %

Shares of SLDB opened at $5.09 on Tuesday. The company has a 50-day simple moving average of $4.07 and a 200-day simple moving average of $5.53. The company has a market capitalization of $388.46 million, a PE ratio of -1.67 and a beta of 1.98. Solid Biosciences Inc. has a 52-week low of $2.88 and a 52-week high of $15.05.

Wall Street Analyst Weigh In

SLDB has been the subject of a number of recent research reports. Chardan Capital reiterated a “buy” rating and set a $16.00 price target on shares of Solid Biosciences in a research note on Friday. HC Wainwright upped their price objective on shares of Solid Biosciences from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday. JMP Securities began coverage on shares of Solid Biosciences in a research report on Tuesday, December 10th. They set an “outperform” rating and a $15.00 price objective for the company. Citizens Jmp upgraded shares of Solid Biosciences to a “strong-buy” rating in a research report on Tuesday, December 10th. Finally, Truist Financial began coverage on shares of Solid Biosciences in a research report on Wednesday, January 8th. They set a “buy” rating and a $16.00 price objective for the company. Nine analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $15.80.

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.