Walleye Capital LLC Sells 19,862 Shares of Solid Biosciences Inc. (NASDAQ:SLDB)

Walleye Capital LLC decreased its stake in shares of Solid Biosciences Inc. (NASDAQ:SLDB) by 4.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 392,101 shares of the company’s stock after selling 19,862 shares during the quarter. Walleye Capital LLC owned about 0.98% of Solid Biosciences worth $2,733,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 DIFC Ltd purchased a new stake in Solid Biosciences in the 2nd quarter worth $58,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Solid Biosciences in the third quarter worth about $71,000. Ground Swell Capital LLC purchased a new stake in shares of Solid Biosciences in the second quarter worth about $76,000. Algert Global LLC bought a new position in Solid Biosciences during the second quarter valued at approximately $82,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Solid Biosciences during the 2nd quarter valued at approximately $92,000. Institutional investors own 81.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SLDB shares. Barclays reduced their price target on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 14th. Chardan Capital restated a “buy” rating and set a $15.00 target price on shares of Solid Biosciences in a research report on Monday, November 11th. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a report on Thursday, November 7th. JPMorgan Chase & Co. reduced their price objective on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Finally, William Blair raised Solid Biosciences to a “strong-buy” rating in a research note on Friday, August 30th. Seven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Solid Biosciences currently has an average rating of “Buy” and an average target price of $15.14.

Solid Biosciences Stock Performance

SLDB opened at $5.79 on Tuesday. The stock’s 50 day moving average price is $6.05 and its 200-day moving average price is $7.27. Solid Biosciences Inc. has a one year low of $2.70 and a one year high of $15.05. The stock has a market cap of $231.37 million, a price-to-earnings ratio of -1.90 and a beta of 1.92.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.12). As a group, analysts predict that Solid Biosciences Inc. will post -2.85 earnings per share for the current fiscal year.

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.