Invesco Ltd. Invests $49,000 in Solid Biosciences Inc. (NASDAQ:SLDB)

Invesco Ltd. acquired a new stake in shares of Solid Biosciences Inc. (NASDAQ:SLDB) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,237 shares of the company’s stock, valued at approximately $49,000.

Several other institutional investors and hedge funds have also modified their holdings of SLDB. China Universal Asset Management Co. Ltd. acquired a new position in Solid Biosciences in the 4th quarter valued at $34,000. Sei Investments Co. acquired a new position in Solid Biosciences in the fourth quarter valued at $52,000. Wells Fargo & Company MN lifted its position in Solid Biosciences by 29.4% during the fourth quarter. Wells Fargo & Company MN now owns 13,138 shares of the company’s stock worth $53,000 after buying an additional 2,986 shares during the period. Rhumbline Advisers boosted its stake in Solid Biosciences by 10.5% in the 4th quarter. Rhumbline Advisers now owns 43,677 shares of the company’s stock worth $175,000 after buying an additional 4,161 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Solid Biosciences by 12.3% during the 4th quarter. American Century Companies Inc. now owns 46,857 shares of the company’s stock valued at $187,000 after acquiring an additional 5,126 shares during the last quarter. Hedge funds and other institutional investors own 81.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SLDB. JPMorgan Chase & Co. decreased their target price on shares of Solid Biosciences from $12.00 to $11.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Truist Financial initiated coverage on shares of Solid Biosciences in a research note on Wednesday, January 8th. They set a “buy” rating and a $16.00 price objective for the company. HC Wainwright lifted their target price on Solid Biosciences from $16.00 to $20.00 and gave the company a “buy” rating in a report on Monday, March 10th. Finally, Chardan Capital restated a “buy” rating and set a $16.00 price target on shares of Solid Biosciences in a research note on Friday, March 7th. Eight research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Solid Biosciences presently has an average rating of “Buy” and an average price target of $15.67.

Solid Biosciences Stock Performance

Solid Biosciences stock opened at $4.23 on Tuesday. The firm has a market capitalization of $327.83 million, a PE ratio of -1.39 and a beta of 2.32. Solid Biosciences Inc. has a one year low of $2.45 and a one year high of $10.99. The stock’s 50 day moving average price is $3.99 and its 200 day moving average price is $4.38.

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.