Highland Private Wealth Management acquired a new position in Solid Biosciences Inc. (NASDAQ:SLDB – Get Rating) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 89,340 shares of the company’s stock, valued at approximately $55,000.
A number of other institutional investors and hedge funds have also modified their holdings of the company. GSA Capital Partners LLP increased its holdings in Solid Biosciences by 12.4% in the 4th quarter. GSA Capital Partners LLP now owns 113,104 shares of the company’s stock valued at $198,000 after buying an additional 12,492 shares during the period. Suvretta Capital Management LLC grew its holdings in Solid Biosciences by 5.2% during the 4th quarter. Suvretta Capital Management LLC now owns 6,287,193 shares of the company’s stock worth $11,003,000 after acquiring an additional 313,000 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of Solid Biosciences in the 1st quarter valued at about $33,000. XTX Topco Ltd boosted its stake in shares of Solid Biosciences by 582.0% in the 1st quarter. XTX Topco Ltd now owns 197,756 shares of the company’s stock valued at $237,000 after purchasing an additional 168,759 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Solid Biosciences by 108.7% during the 1st quarter. Renaissance Technologies LLC now owns 1,268,575 shares of the company’s stock worth $1,522,000 after acquiring an additional 660,747 shares during the last quarter. 63.88% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Separately, Chardan Capital dropped their target price on shares of Solid Biosciences from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, August 12th.
Solid Biosciences Price Performance
Solid Biosciences (NASDAQ:SLDB – Get Rating) last issued its earnings results on Thursday, August 11th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.01). Solid Biosciences had a negative return on equity of 44.66% and a negative net margin of 588.52%. The business had revenue of $6.17 million for the quarter, compared to analyst estimates of $3.48 million. As a group, equities analysts forecast that Solid Biosciences Inc. will post -0.8 earnings per share for the current year.
About Solid Biosciences
Solid Biosciences Inc engages in developing therapies for duchenne muscular dystrophy in the United States. The company's lead product candidate is SGT-001, a gene transfer candidate, which is in a Phase I/II clinical trial to drive functional dystrophin protein expression in patients' muscles; and SGT-003, a ext-generation gene transfer candidate for the treatment of duchenne muscular dystrophy.
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