Bollard Group LLC Acquires New Holdings in Solid Biosciences Inc. $SLDB

Bollard Group LLC bought a new position in shares of Solid Biosciences Inc. (NASDAQ:SLDB) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 361,660 shares of the company’s stock, valued at approximately $1,761,000. Bollard Group LLC owned 0.47% of Solid Biosciences as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of SLDB. Legal & General Group Plc increased its position in shares of Solid Biosciences by 208.6% during the second quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock worth $29,000 after acquiring an additional 4,063 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in Solid Biosciences by 205.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company’s stock worth $33,000 after purchasing an additional 4,534 shares in the last quarter. Ground Swell Capital LLC acquired a new stake in shares of Solid Biosciences in the 1st quarter valued at about $42,000. Pallas Capital Advisors LLC bought a new stake in shares of Solid Biosciences in the second quarter valued at about $54,000. Finally, Creative Planning acquired a new position in shares of Solid Biosciences during the second quarter worth about $57,000. Institutional investors own 81.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SLDB. Needham & Company LLC initiated coverage on Solid Biosciences in a report on Thursday. They set a “buy” rating and a $16.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Biosciences in a research note on Wednesday, October 8th. Citigroup lowered their price objective on shares of Solid Biosciences from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Chardan Capital reaffirmed a “buy” rating and issued a $15.00 target price on shares of Solid Biosciences in a research report on Tuesday, November 4th. Finally, Wall Street Zen cut shares of Solid Biosciences from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $14.82.

Solid Biosciences Trading Down 2.5%

Shares of SLDB opened at $5.77 on Friday. The company’s fifty day simple moving average is $5.33 and its 200 day simple moving average is $5.30. Solid Biosciences Inc. has a 1-year low of $2.41 and a 1-year high of $7.37. The company has a market cap of $449.54 million, a price-to-earnings ratio of -2.32 and a beta of 2.97.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings results on Monday, November 3rd. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.06). As a group, research analysts forecast that Solid Biosciences Inc. will post -2.84 earnings per share for the current year.

Insider Activity

In related news, CEO Alexander Cumbo sold 10,808 shares of Solid Biosciences stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $5.11, for a total transaction of $55,228.88. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO David T. Howton sold 4,932 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $5.11, for a total value of $25,202.52. Following the completion of the sale, the chief operating officer directly owned 32,908 shares of the company’s stock, valued at approximately $168,159.88. The trade was a 13.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 25,819 shares of company stock valued at $134,396 over the last quarter. 1.90% of the stock is currently owned by company insiders.

About Solid Biosciences

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.