Virtu Financial LLC purchased a new position in shares of Solid Biosciences Inc (NASDAQ:SLDB) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 20,242 shares of the company’s stock, valued at approximately $186,000. Virtu Financial LLC owned 0.06% of Solid Biosciences as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of SLDB. Flinton Capital Management LLC purchased a new stake in shares of Solid Biosciences in the 4th quarter valued at about $47,000. First Manhattan Co. raised its holdings in shares of Solid Biosciences by 100.0% during the 4th quarter. First Manhattan Co. now owns 2,000 shares of the company’s stock valued at $53,000 after buying an additional 1,000 shares in the last quarter. Great West Life Assurance Co. Can purchased a new position in shares of Solid Biosciences during the 4th quarter valued at about $83,000. Legal & General Group Plc raised its holdings in shares of Solid Biosciences by 47.8% during the 3rd quarter. Legal & General Group Plc now owns 1,825 shares of the company’s stock valued at $86,000 after buying an additional 590 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its holdings in shares of Solid Biosciences by 356.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,160 shares of the company’s stock valued at $111,000 after buying an additional 3,249 shares in the last quarter. Institutional investors own 63.39% of the company’s stock.
Solid Biosciences stock traded down $0.16 during trading hours on Wednesday, reaching $5.93. The company had a trading volume of 269,722 shares, compared to its average volume of 853,888. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.99 and a quick ratio of 10.31. The stock has a market capitalization of $205.71 million, a P/E ratio of -2.64 and a beta of 1.68. Solid Biosciences Inc has a 12-month low of $5.23 and a 12-month high of $54.84.
Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.85) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.63) by ($0.22). Sell-side analysts expect that Solid Biosciences Inc will post -2.63 earnings per share for the current fiscal year.
In related news, major shareholder Boxer Capital, Llc sold 450,000 shares of Solid Biosciences stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $9.88, for a total transaction of $4,446,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Juan Andrey Zarur sold 8,000 shares of Solid Biosciences stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $10.00, for a total value of $80,000.00. The disclosure for this sale can be found here. 31.20% of the stock is currently owned by company insiders.
A number of equities analysts recently weighed in on the company. Zacks Investment Research cut Solid Biosciences from a “hold” rating to a “sell” rating in a report on Saturday. Citigroup set a $6.00 price objective on Solid Biosciences and gave the company a “hold” rating in a report on Thursday, May 16th. Chardan Capital cut Solid Biosciences from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $15.00 to $7.50 in a report on Tuesday, May 14th. Goldman Sachs Group cut Solid Biosciences from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $5.00 to $4.00 in a report on Tuesday, May 14th. Finally, Credit Suisse Group cut Solid Biosciences from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $7.00 to $6.00 in a research note on Tuesday, May 14th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Solid Biosciences presently has a consensus rating of “Hold” and a consensus price target of $19.82.
Solid Biosciences Profile
Solid Biosciences Inc, a life science company, engages in identifying and developing therapies for duchenne muscular dystrophy (DMD) in the United States. The company's lead product candidate is SGT-001, an adeno-associated viral vector-mediated gene transfer, which is in a Phase I/II clinical trial to restore functional dystrophin protein expression in patients' muscles.
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