Pallas Capital Advisors LLC Takes $54,000 Position in Solid Biosciences Inc. $SLDB

Pallas Capital Advisors LLC bought a new stake in Solid Biosciences Inc. (NASDAQ:SLDB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 11,042 shares of the company’s stock, valued at approximately $54,000.

Other hedge funds also recently modified their holdings of the company. CWM LLC boosted its stake in shares of Solid Biosciences by 15,188.5% in the 1st quarter. CWM LLC now owns 7,950 shares of the company’s stock valued at $29,000 after purchasing an additional 7,898 shares during the last quarter. Ground Swell Capital LLC acquired a new stake in shares of Solid Biosciences in the 1st quarter valued at approximately $42,000. China Universal Asset Management Co. Ltd. raised its position in shares of Solid Biosciences by 80.7% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 15,308 shares of the company’s stock valued at $57,000 after acquiring an additional 6,836 shares during the period. Sfmg LLC acquired a new stake in shares of Solid Biosciences in the 1st quarter valued at approximately $93,000. Finally, Virtu Financial LLC acquired a new stake in shares of Solid Biosciences in the 1st quarter valued at approximately $95,000. Institutional investors own 81.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Solid Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, September 13th. HC Wainwright reiterated a “buy” rating and issued a $20.00 price target on shares of Solid Biosciences in a research report on Tuesday, June 17th. Cantor Fitzgerald set a $16.00 price target on shares of Solid Biosciences and gave the company an “overweight” rating in a research report on Monday, July 21st. JPMorgan Chase & Co. cut their price target on shares of Solid Biosciences from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Thursday, August 14th. Finally, Citigroup began coverage on shares of Solid Biosciences in a research report on Thursday, June 26th. They issued a “buy” rating and a $14.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $15.00.

Solid Biosciences Price Performance

SLDB stock opened at $5.33 on Wednesday. The company has a fifty day moving average price of $5.95 and a two-hundred day moving average price of $4.62. The stock has a market cap of $415.05 million, a price-to-earnings ratio of -1.90 and a beta of 2.54. Solid Biosciences Inc. has a one year low of $2.41 and a one year high of $7.97.

Solid Biosciences (NASDAQ:SLDB) last announced its earnings results on Tuesday, August 12th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.09. Research analysts anticipate that Solid Biosciences Inc. will post -2.84 EPS for the current fiscal year.

About Solid Biosciences

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.