Fmr LLC Acquires Shares of 43,761 Solid Biosciences Inc. (NASDAQ:SLDB)

Fmr LLC bought a new position in shares of Solid Biosciences Inc. (NASDAQ:SLDB) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 43,761 shares of the company’s stock, valued at approximately $305,000. Fmr LLC owned approximately 0.11% of Solid Biosciences as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Millennium Management LLC boosted its position in Solid Biosciences by 135.7% during the second quarter. Millennium Management LLC now owns 1,728,065 shares of the company’s stock worth $9,798,000 after acquiring an additional 994,984 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Solid Biosciences by 303.6% in the 2nd quarter. Renaissance Technologies LLC now owns 277,564 shares of the company’s stock worth $1,574,000 after purchasing an additional 208,793 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Solid Biosciences during the 2nd quarter worth approximately $1,554,000. Point72 Asset Management L.P. purchased a new stake in shares of Solid Biosciences in the second quarter valued at approximately $639,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Solid Biosciences in the second quarter valued at approximately $412,000. Hedge funds and other institutional investors own 81.46% of the company’s stock.

Solid Biosciences Stock Performance

NASDAQ:SLDB opened at $4.16 on Friday. Solid Biosciences Inc. has a fifty-two week low of $3.90 and a fifty-two week high of $15.05. The company has a 50 day moving average price of $5.46 and a 200 day moving average price of $6.95. The stock has a market capitalization of $166.21 million, a P/E ratio of -1.37 and a beta of 2.01.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.12). Research analysts forecast that Solid Biosciences Inc. will post -2.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Citizens Jmp upgraded Solid Biosciences to a “strong-buy” rating in a research report on Tuesday, December 10th. William Blair raised shares of Solid Biosciences to a “strong-buy” rating in a research report on Friday, August 30th. Wedbush started coverage on shares of Solid Biosciences in a research report on Friday, December 13th. They set an “outperform” rating and a $16.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on shares of Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Finally, Chardan Capital reissued a “buy” rating and issued a $15.00 price target on shares of Solid Biosciences in a research note on Monday, November 11th. Eight analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, Solid Biosciences currently has an average rating of “Buy” and a consensus price target of $15.22.

Insider Activity at Solid Biosciences

In related news, COO David T. Howton sold 5,072 shares of Solid Biosciences stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total value of $28,403.20. Following the completion of the transaction, the chief operating officer now owns 15,663 shares in the company, valued at $87,712.80. The trade was a 24.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alexander Cumbo sold 11,114 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total transaction of $62,238.40. Following the completion of the sale, the chief executive officer now directly owns 38,484 shares in the company, valued at approximately $215,510.40. This represents a 22.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,719 shares of company stock worth $135,457 in the last three months. 13.63% of the stock is owned by company insiders.

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.