Solid Biosciences Inc. $SLDB Stock Position Increased by Monashee Investment Management LLC

Monashee Investment Management LLC grew its holdings in Solid Biosciences Inc. (NASDAQ:SLDB) by 5.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,420,295 shares of the company’s stock after purchasing an additional 70,524 shares during the quarter. Solid Biosciences makes up approximately 5.6% of Monashee Investment Management LLC’s portfolio, making the stock its 6th largest holding. Monashee Investment Management LLC owned 1.44% of Solid Biosciences worth $10,226,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. UBS Group AG lifted its stake in Solid Biosciences by 25.9% in the 4th quarter. UBS Group AG now owns 911,409 shares of the company’s stock valued at $5,140,000 after buying an additional 187,264 shares in the last quarter. Fisher Asset Management LLC purchased a new position in Solid Biosciences during the fourth quarter worth $584,000. Armistice Capital LLC raised its holdings in shares of Solid Biosciences by 179.1% in the fourth quarter. Armistice Capital LLC now owns 2,612,000 shares of the company’s stock worth $14,732,000 after acquiring an additional 1,676,000 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Solid Biosciences in the fourth quarter worth $118,000. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of Solid Biosciences in the third quarter valued at $228,000. 81.46% of the stock is owned by hedge funds and other institutional investors.

Solid Biosciences Trading Down 4.3%

NASDAQ SLDB opened at $8.10 on Thursday. The business’s 50-day moving average price is $8.22 and its 200 day moving average price is $7.32. Solid Biosciences Inc. has a twelve month low of $3.79 and a twelve month high of $11.45. The company has a market capitalization of $797.45 million, a PE ratio of -4.15 and a beta of 2.36.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.12). Equities analysts predict that Solid Biosciences Inc. will post -1.9 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SLDB. Piper Sandler reiterated an “overweight” rating and set a $18.00 price objective (up from $17.00) on shares of Solid Biosciences in a research report on Wednesday, May 13th. Wedbush lowered their price target on shares of Solid Biosciences from $17.00 to $16.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Biosciences in a research report on Friday, July 17th. HC Wainwright upped their price objective on shares of Solid Biosciences from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. Finally, Truist Financial upgraded shares of Solid Biosciences to a “strong-buy” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.11.

Solid Biosciences Company Profile

Solid Biosciences Inc is a clinical?stage biotechnology company focused on the development of therapies for Duchenne muscular dystrophy (DMD), a rare genetic disorder characterized by progressive muscle degeneration. The company’s primary approach centers on gene replacement and gene editing technologies designed to restore functional dystrophin protein in patients lacking this critical muscle?stabilizing protein.

Solid’s lead investigational therapy, SGT?001, is a micro?dystrophin gene therapy candidate engineered to deliver a shortened but functional form of the dystrophin gene using an adeno?associated virus (AAV) vector.