Armistice Capital LLC Boosts Holdings in Solid Biosciences Inc. $SLDB

Armistice Capital LLC boosted its position in Solid Biosciences Inc. (NASDAQ:SLDB) by 179.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,612,000 shares of the company’s stock after buying an additional 1,676,000 shares during the period. Armistice Capital LLC owned approximately 3.35% of Solid Biosciences worth $14,732,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Schonfeld Strategic Advisors LLC grew its position in Solid Biosciences by 168.9% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 182,869 shares of the company’s stock valued at $1,031,000 after buying an additional 114,867 shares during the last quarter. Jain Global LLC purchased a new position in Solid Biosciences in the 4th quarter valued at $114,000. Squarepoint Ops LLC purchased a new position in Solid Biosciences in the 4th quarter valued at $282,000. Birchview Capital LP grew its position in Solid Biosciences by 137.7% in the 4th quarter. Birchview Capital LP now owns 705,955 shares of the company’s stock valued at $3,982,000 after buying an additional 409,000 shares during the last quarter. Finally, Siren L.L.C. grew its position in Solid Biosciences by 3.7% in the 4th quarter. Siren L.L.C. now owns 7,690,405 shares of the company’s stock valued at $43,374,000 after buying an additional 274,500 shares during the last quarter. 81.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on SLDB. Truist Financial upgraded shares of Solid Biosciences to a “strong-buy” rating in a research report on Monday, April 27th. Wall Street Zen lowered shares of Solid Biosciences from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Wedbush decreased their target price on shares of Solid Biosciences from $17.00 to $16.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Chardan Capital restated a “buy” rating and set a $15.00 target price on shares of Solid Biosciences in a research report on Friday, March 20th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Solid Biosciences from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Solid Biosciences Stock Up 3.4%

NASDAQ:SLDB opened at $7.31 on Thursday. The company has a market capitalization of $719.67 million, a PE ratio of -3.75 and a beta of 2.43. Solid Biosciences Inc. has a 52-week low of $3.79 and a 52-week high of $8.87. The stock has a fifty day simple moving average of $7.35 and a 200-day simple moving average of $6.64.

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

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.