Deerfield Management Company L.P. Series C Sells 517,000 Shares of Solid Biosciences Inc. (NASDAQ:SLDB)

Deerfield Management Company L.P. Series C decreased its position in Solid Biosciences Inc. (NASDAQ:SLDB) by 22.9% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,743,398 shares of the company’s stock after selling 517,000 shares during the period. Deerfield Management Company L.P. Series C owned about 4.54% of Solid Biosciences worth $9,885,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Point72 DIFC Ltd acquired a new stake in shares of Solid Biosciences in the second quarter valued at approximately $58,000. Ground Swell Capital LLC bought a new stake in Solid Biosciences during the 2nd quarter worth about $76,000. Rhumbline Advisers acquired a new position in shares of Solid Biosciences during the 2nd quarter worth about $191,000. American Century Companies Inc. boosted its stake in shares of Solid Biosciences by 39.9% during the 2nd quarter. American Century Companies Inc. now owns 34,557 shares of the company’s stock worth $196,000 after buying an additional 9,853 shares during the last quarter. Finally, Vestal Point Capital LP bought a new position in shares of Solid Biosciences in the 4th quarter valued at about $209,000. Institutional investors and hedge funds own 81.46% of the company’s stock.

Solid Biosciences Stock Down 1.8 %

Shares of SLDB stock opened at $7.54 on Thursday. Solid Biosciences Inc. has a 12-month low of $1.81 and a 12-month high of $15.05. The firm has a 50 day moving average price of $8.38 and a two-hundred day moving average price of $9.00. The company has a market capitalization of $291.04 million, a PE ratio of -1.91 and a beta of 1.92.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.61) earnings per share for the quarter, topping the consensus estimate of ($0.66) by $0.05. As a group, research analysts expect that Solid Biosciences Inc. will post -2.61 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SLDB shares. Barclays dropped their target price on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. Leerink Partners raised Solid Biosciences from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a report on Monday, June 24th. HC Wainwright restated a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a report on Wednesday, August 14th. Piper Sandler reiterated an “overweight” rating and issued a $20.00 price target on shares of Solid Biosciences in a research note on Friday, June 21st. Finally, William Blair upgraded shares of Solid Biosciences to a “strong-buy” rating in a research note on Friday, August 30th. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $15.67.

Solid Biosciences 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.