Geode Capital Management LLC Acquires 979,294 Shares of Solid Biosciences Inc. $SLDB

Geode Capital Management LLC increased its holdings in Solid Biosciences Inc. (NASDAQ:SLDB) by 184.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,510,153 shares of the company’s stock after purchasing an additional 979,294 shares during the quarter. Geode Capital Management LLC’s holdings in Solid Biosciences were worth $7,356,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in SLDB. Pallas Capital Advisors LLC purchased a new position in shares of Solid Biosciences in the second quarter worth about $54,000. Ground Swell Capital LLC bought a new position in Solid Biosciences during the 1st quarter worth approximately $42,000. ProShare Advisors LLC bought a new position in Solid Biosciences during the 2nd quarter worth approximately $80,000. Virtu Financial LLC purchased a new position in Solid Biosciences in the 1st quarter worth approximately $95,000. Finally, Fox Run Management L.L.C. bought a new stake in Solid Biosciences in the first quarter valued at approximately $141,000. 81.46% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Solid Biosciences news, COO David T. Howton sold 4,932 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $5.11, for a total transaction of $25,202.52. Following the completion of the transaction, the chief operating officer owned 32,908 shares of the company’s stock, valued at approximately $168,159.88. This trade represents a 13.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Alexander Cumbo sold 10,808 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $5.11, for a total transaction of $55,228.88. Following the sale, the chief executive officer owned 81,388 shares in the company, valued at approximately $415,892.68. This trade represents a 11.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 25,819 shares of company stock valued at $134,396. 1.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SLDB. Weiss Ratings restated a “sell (d-)” rating on shares of Solid Biosciences in a report on Wednesday, October 8th. Wedbush cut their price target on shares of Solid Biosciences from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Wednesday, August 13th. JPMorgan Chase & Co. lowered their price objective on shares of Solid Biosciences from $13.00 to $11.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Barclays set a $9.00 target price on Solid Biosciences and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.82.

Solid Biosciences Price Performance

Shares of SLDB opened at $5.77 on Friday. The company has a 50-day simple moving average of $5.33 and a two-hundred day simple moving average of $5.28. The firm has a market capitalization of $449.54 million, a PE ratio of -2.32 and a beta of 2.97. Solid Biosciences Inc. has a one year low of $2.41 and a one year high of $7.37.

Solid Biosciences (NASDAQ:SLDB) last announced its earnings results on Monday, November 3rd. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.06). Analysts expect that Solid Biosciences Inc. will post -2.84 EPS for the current fiscal year.

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.