Fisher Asset Management LLC Buys New Holdings in Solid Biosciences Inc. $SLDB

Fisher Asset Management LLC bought a new stake in Solid Biosciences Inc. (NASDAQ:SLDB) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 103,481 shares of the company’s stock, valued at approximately $584,000. Fisher Asset Management LLC owned approximately 0.13% of Solid Biosciences at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Boxer Capital Management LLC acquired a new position in shares of Solid Biosciences in the third quarter valued at $3,702,000. UBS Group AG increased its stake in Solid Biosciences by 25.9% in the fourth quarter. UBS Group AG now owns 911,409 shares of the company’s stock valued at $5,140,000 after acquiring an additional 187,264 shares during the period. Fox Run Management L.L.C. bought a new stake in Solid Biosciences in the third quarter valued at about $114,000. AXQ Capital LP bought a new stake in Solid Biosciences in the third quarter valued at about $148,000. Finally, Quantum Private Wealth LLC increased its stake in Solid Biosciences by 3.9% in the third quarter. Quantum Private Wealth LLC now owns 94,231 shares of the company’s stock valued at $581,000 after acquiring an additional 3,500 shares during the period. 81.46% of the stock is currently owned by institutional investors and hedge funds.

Solid Biosciences Price Performance

SLDB stock opened at $7.34 on Friday. The business has a fifty day moving average price of $7.42 and a 200 day moving average price of $6.42. Solid Biosciences Inc. has a fifty-two week low of $3.07 and a fifty-two week high of $8.87. The stock has a market capitalization of $722.62 million, a price-to-earnings ratio of -3.76 and a beta of 2.47.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.12). On average, equities analysts expect that Solid Biosciences Inc. will post -1.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SLDB. Needham & Company LLC reissued a “buy” rating and issued a $19.00 target price on shares of Solid Biosciences in a research note on Friday, March 20th. Guggenheim initiated coverage on Solid Biosciences in a research note on Friday, March 20th. They issued a “buy” rating and a $26.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of Solid Biosciences in a research note on Monday, March 23rd. Truist Financial raised Solid Biosciences to a “strong-buy” rating in a research note on Monday, April 27th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Biosciences in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Solid Biosciences has an average rating of “Moderate Buy” and a consensus target price of $16.36.

About Solid Biosciences

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.