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

Barclays PLC raised its holdings in Solid Biosciences Inc. (NASDAQ:SLDB) by 412.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 62,856 shares of the company’s stock after buying an additional 50,582 shares during the quarter. Barclays PLC owned about 0.16% of Solid Biosciences worth $439,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SLDB. Millennium Management LLC increased its position in Solid Biosciences by 135.7% during the 2nd quarter. Millennium Management LLC now owns 1,728,065 shares of the company’s stock valued at $9,798,000 after purchasing an additional 994,984 shares during the period. Point72 Asset Management L.P. boosted its stake in shares of Solid Biosciences by 292.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company’s stock valued at $3,088,000 after purchasing an additional 330,234 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Solid Biosciences during the second quarter valued at about $1,554,000. Renaissance Technologies LLC raised its stake in Solid Biosciences by 303.6% in the second quarter. Renaissance Technologies LLC now owns 277,564 shares of the company’s stock worth $1,574,000 after buying an additional 208,793 shares in the last quarter. Finally, Vestal Point Capital LP lifted its holdings in Solid Biosciences by 5.1% in the third quarter. Vestal Point Capital LP now owns 2,800,000 shares of the company’s stock worth $19,516,000 after buying an additional 135,000 shares during the period. 81.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SLDB shares. Truist Financial started coverage on Solid Biosciences in a report on Wednesday, January 8th. They set a “buy” rating and a $16.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a research note on Friday, January 10th. JMP Securities initiated coverage on shares of Solid Biosciences in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $15.00 target price on the stock. Chardan Capital reissued a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a research report on Monday, November 11th. Finally, Wedbush assumed coverage on shares of Solid Biosciences in a research note on Friday, December 13th. They set an “outperform” rating and a $16.00 price objective on the stock. Nine investment analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $15.30.

Solid Biosciences Stock Up 0.6 %

NASDAQ:SLDB opened at $3.27 on Friday. The stock has a market cap of $130.67 million, a price-to-earnings ratio of -1.08 and a beta of 2.05. The company’s 50 day moving average price is $4.62 and its 200-day moving average price is $6.51. Solid Biosciences Inc. has a 52 week low of $3.03 and a 52 week high of $15.05.

Solid Biosciences (NASDAQ:SLDB) last issued its 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). As a group, sell-side analysts anticipate that Solid Biosciences Inc. will post -2.84 earnings per share for the current year.

Insider Activity

In other Solid Biosciences news, insider Jessie Hanrahan sold 4,610 shares of the business’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 completion of the sale, the insider now directly owns 14,235 shares in the company, valued at approximately $79,716. The trade was a 24.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Alexander Cumbo sold 11,114 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total value of $62,238.40. Following the completion of the transaction, the chief executive officer now owns 38,484 shares in the company, valued at approximately $215,510.40. This trade represents a 22.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,848 shares of company stock valued at $155,852 over the last ninety days. 13.63% of the stock is currently owned by corporate insiders.

Solid Biosciences Company 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.