Allianz Asset Management GmbH Purchases Shares of 27,100 Solid Biosciences Inc. (NASDAQ:SLDB)

Allianz Asset Management GmbH purchased a new stake in shares of Solid Biosciences Inc. (NASDAQ:SLDB) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 27,100 shares of the company’s stock, valued at approximately $100,000.

A number of other hedge funds also recently modified their holdings of SLDB. JPMorgan Chase & Co. increased its holdings in Solid Biosciences by 9,393.8% in the fourth quarter. JPMorgan Chase & Co. now owns 955,932 shares of the company’s stock valued at $3,824,000 after purchasing an additional 945,863 shares during the period. Redmile Group LLC bought a new stake in shares of Solid Biosciences in the 4th quarter valued at about $2,461,000. Dimensional Fund Advisors LP increased its stake in shares of Solid Biosciences by 270.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 264,069 shares of the company’s stock valued at $1,056,000 after buying an additional 192,714 shares during the period. Trexquant Investment LP raised its position in shares of Solid Biosciences by 256.9% during the fourth quarter. Trexquant Investment LP now owns 194,281 shares of the company’s stock worth $777,000 after acquiring an additional 139,851 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of Solid Biosciences by 479.4% in the fourth quarter. Cubist Systematic Strategies LLC now owns 65,613 shares of the company’s stock worth $262,000 after acquiring an additional 54,288 shares during the period. Institutional investors and hedge funds own 81.46% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on SLDB. Chardan Capital decreased their target price on shares of Solid Biosciences from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, May 19th. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Solid Biosciences in a research note on Tuesday, June 17th. JMP Securities reissued a “market outperform” rating and set a $15.00 target price on shares of Solid Biosciences in a research note on Friday, June 6th. Barclays cut their price target on shares of Solid Biosciences from $15.00 to $10.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. Finally, Citigroup assumed coverage on Solid Biosciences in a research report on Thursday, June 26th. They set a “buy” rating and a $14.00 target price on the stock. Ten analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $15.10.

Solid Biosciences Price Performance

NASDAQ SLDB opened at $6.82 on Tuesday. The company has a fifty day moving average price of $5.14 and a 200-day moving average price of $4.25. The firm has a market cap of $528.62 million, a price-to-earnings ratio of -2.28 and a beta of 2.44. Solid Biosciences Inc. has a 1 year low of $2.41 and a 1 year high of $10.37.

Solid Biosciences (NASDAQ:SLDB) last issued its quarterly earnings results on Thursday, May 15th. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.06). On average, research analysts anticipate that Solid Biosciences Inc. will post -2.84 EPS for the current fiscal year.

Solid Biosciences Company 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.