Marshall Wace LLP Takes $1.55 Million Position in Solid Biosciences Inc. (NASDAQ:SLDB)

Marshall Wace LLP purchased a new position in Solid Biosciences Inc. (NASDAQ:SLDB) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 274,005 shares of the company’s stock, valued at approximately $1,554,000. Marshall Wace LLP owned approximately 0.71% of Solid Biosciences as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ground Swell Capital LLC acquired a new position in shares of Solid Biosciences in the 2nd quarter worth approximately $76,000. Rhumbline Advisers acquired a new position in Solid Biosciences in the second quarter worth $191,000. American Century Companies Inc. raised its holdings in shares of Solid Biosciences by 39.9% during the second quarter. American Century Companies Inc. now owns 34,557 shares of the company’s stock worth $196,000 after purchasing an additional 9,853 shares during the period. Acadian Asset Management LLC bought a new position in shares of Solid Biosciences in the 2nd quarter worth about $379,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Solid Biosciences in the 2nd quarter valued at about $392,000. 81.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SLDB has been the topic of a number of recent research reports. Leerink Partners raised shares of Solid Biosciences from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a report on Monday, June 24th. HC Wainwright restated a “buy” rating and set a $16.00 price objective on shares of Solid Biosciences in a research report on Wednesday, August 14th. Piper Sandler reaffirmed an “overweight” rating and issued a $20.00 target price on shares of Solid Biosciences in a research report on Friday, June 21st. Barclays reduced their price target on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. upgraded shares of Solid Biosciences from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $10.00 to $15.00 in a research report on Monday, July 15th. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Solid Biosciences currently has an average rating of “Buy” and an average price target of $15.67.

Solid Biosciences Stock Down 1.8 %

Shares of NASDAQ SLDB opened at $6.58 on Friday. The stock has a market cap of $253.99 million, a P/E ratio of -1.67 and a beta of 1.90. The firm’s 50-day simple moving average is $8.12 and its 200 day simple moving average is $8.72. Solid Biosciences Inc. has a fifty-two week low of $1.81 and a fifty-two week high of $15.05.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.61) EPS for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.05. On average, sell-side analysts anticipate that Solid Biosciences Inc. will post -2.61 earnings per share for the current fiscal year.

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.