Tudor Investment Corp Et Al cut its stake in Solid Biosciences Inc (NASDAQ:SLDB) by 18.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,465 shares of the company’s stock after selling 5,199 shares during the period. Tudor Investment Corp Et Al’s holdings in Solid Biosciences were worth $66,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in Solid Biosciences by 7.4% in the first quarter. Geode Capital Management LLC now owns 295,693 shares of the company’s stock valued at $706,000 after purchasing an additional 20,479 shares during the period. Two Sigma Advisers LP boosted its holdings in Solid Biosciences by 573.4% in the first quarter. Two Sigma Advisers LP now owns 86,200 shares of the company’s stock valued at $206,000 after purchasing an additional 73,400 shares during the period. Alliancebernstein L.P. boosted its holdings in Solid Biosciences by 8.7% in the first quarter. Alliancebernstein L.P. now owns 55,000 shares of the company’s stock valued at $131,000 after purchasing an additional 4,400 shares during the period. State Street Corp boosted its holdings in Solid Biosciences by 2.6% in the first quarter. State Street Corp now owns 357,274 shares of the company’s stock valued at $854,000 after purchasing an additional 8,977 shares during the period. Finally, Russell Investments Group Ltd. purchased a new stake in Solid Biosciences during the 2nd quarter worth about $139,000. Hedge funds and other institutional investors own 58.10% of the company’s stock.
Shares of SLDB stock opened at $2.44 on Friday. The company has a quick ratio of 3.31, a current ratio of 3.31 and a debt-to-equity ratio of 0.10. Solid Biosciences Inc has a 52-week low of $1.96 and a 52-week high of $13.58. The stock’s 50-day moving average price is $2.47 and its 200 day moving average price is $2.74. The stock has a market capitalization of $112.49 million, a PE ratio of -1.07 and a beta of 1.04.
In other news, CEO Ilan Ganot sold 11,124 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $2.42, for a total transaction of $26,920.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 18,756 shares of company stock worth $45,390 in the last ninety days. Corporate insiders own 33.12% of the company’s stock.
A number of brokerages have issued reports on SLDB. Zacks Investment Research downgraded Solid Biosciences from a “buy” rating to a “hold” rating in a report on Wednesday, August 26th. Chardan Capital reaffirmed a “buy” rating and set a $5.00 price target on shares of Solid Biosciences in a report on Friday, August 14th. Finally, SVB Leerink downgraded Solid Biosciences from an “outperform” rating to a “market perform” rating and set a $3.00 price target for the company. in a report on Monday, July 27th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $7.29.
Solid Biosciences Profile
Solid Biosciences Inc, a life science company, engages in identifying and developing therapies for duchenne muscular dystrophy (DMD) in the United States. The company’s lead product candidate is SGT-001, an adeno-associated viral vector-mediated gene transfer, which is in a Phase I/II clinical trial to restore functional dystrophin protein expression in patients’ muscles.
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