Walleye Capital LLC Lowers Holdings in Solid Biosciences Inc. (NASDAQ:SLDB)

Walleye Capital LLC reduced its position in shares of Solid Biosciences Inc. (NASDAQ:SLDB) by 4.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 392,101 shares of the company’s stock after selling 19,862 shares during the quarter. Walleye Capital LLC’s holdings in Solid Biosciences were worth $2,733,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of SLDB. Point72 DIFC Ltd bought a new position in shares of Solid Biosciences during the 2nd quarter worth $58,000. The Manufacturers Life Insurance Company bought a new position in Solid Biosciences during the 3rd quarter worth about $71,000. Ground Swell Capital LLC purchased a new position in Solid Biosciences during the 2nd quarter valued at about $76,000. Algert Global LLC purchased a new position in Solid Biosciences during the 2nd quarter valued at about $82,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Solid Biosciences in the 2nd quarter valued at about $92,000. 81.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Barclays cut their price target on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. Chardan Capital restated a “buy” rating and set a $15.00 price objective on shares of Solid Biosciences in a research note on Monday, November 11th. William Blair upgraded Solid Biosciences to a “strong-buy” rating in a research note on Friday, August 30th. Finally, HC Wainwright reissued a “buy” rating and set a $16.00 price target on shares of Solid Biosciences in a research report on Thursday, November 7th. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $15.14.

Solid Biosciences Price Performance

Shares of SLDB stock opened at $5.79 on Tuesday. The stock’s fifty day moving average price is $6.05 and its 200 day moving average price is $7.27. Solid Biosciences Inc. has a 1-year low of $2.70 and a 1-year high of $15.05. The company 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 posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.12). As a group, equities research analysts anticipate that Solid Biosciences Inc. will post -2.85 earnings per share for the current 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.