Solid Biosciences (NASDAQ:SLDB) Issues Quarterly Earnings Results

Solid Biosciences (NASDAQ:SLDB – Get Rating) posted its earnings results on Wednesday. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.04), MarketWatch Earnings reports. Solid Biosciences had a negative return on equity of 36.12% and a negative net margin of 660.25%. During the same period last year, the firm posted ($0.19) EPS.

NASDAQ:SLDB opened at $0.56 on Friday. The stock has a fifty day moving average price of $1.01 and a 200 day moving average price of $1.48. Solid Biosciences has a 12-month low of $0.55 and a 12-month high of $5.24.

In related news, COO Joel Solomon Zev Schneider sold 30,504 shares of Solid Biosciences stock in a transaction on Monday, March 14th. The stock was sold at an average price of $1.10, for a total value of $33,554.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 53,632 shares of company stock valued at $59,004. 24.90% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in Solid Biosciences by 38.6% in the fourth quarter. BlackRock Inc. now owns 6,253,209 shares of the company’s stock valued at $10,942,000 after purchasing an additional 1,741,514 shares during the period. Geode Capital Management LLC lifted its holdings in Solid Biosciences by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,022,075 shares of the company’s stock worth $1,788,000 after buying an additional 9,514 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Solid Biosciences by 51.3% during the 4th quarter. Renaissance Technologies LLC now owns 607,828 shares of the company’s stock worth $1,064,000 after buying an additional 205,983 shares during the last quarter. Millennium Management LLC lifted its holdings in Solid Biosciences by 3,107.0% during the 4th quarter. Millennium Management LLC now owns 559,466 shares of the company’s stock worth $979,000 after buying an additional 542,021 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Solid Biosciences by 51.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 484,670 shares of the company’s stock worth $848,000 after buying an additional 164,225 shares during the last quarter. Hedge funds and other institutional investors own 69.76% of the company’s stock.

Several research firms have issued reports on SLDB. Piper Sandler cut their target price on Solid Biosciences from $6.00 to $5.00 in a research note on Wednesday. Chardan Capital lowered their price target on Solid Biosciences from $17.00 to $7.00 in a research report on Thursday. Zacks Investment Research upgraded Solid Biosciences from a “hold” rating to a “buy” rating and set a $1.25 price target for the company in a research report on Friday, March 18th. Finally, SVB Leerink restated an “outperform” rating on shares of Solid Biosciences in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $5.65.

About Solid Biosciences (Get Rating)

Solid Biosciences Inc engages in developing therapies for duchenne muscular dystrophy in the United States. The company's lead product candidate is SGT-001, a gene transfer candidate, which is in a Phase I/II clinical trial to drive functional dystrophin protein expression in patients' muscles; and SGT-003, a ext-generation gene transfer candidate for the treatment of duchenne muscular dystrophy.

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