Redmile Group LLC Acquires New Stake in Solid Biosciences Inc. (NASDAQ:SLDB)

Redmile Group LLC acquired a new stake in Solid Biosciences Inc. (NASDAQ:SLDB) during the fourth quarter, Holdings Channel reports. The fund acquired 615,246 shares of the company’s stock, valued at approximately $2,461,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SLDB. Wells Fargo & Company MN lifted its stake in shares of Solid Biosciences by 29.4% in the fourth quarter. Wells Fargo & Company MN now owns 13,138 shares of the company’s stock worth $53,000 after buying an additional 2,986 shares in the last quarter. Rhumbline Advisers raised its holdings in Solid Biosciences by 10.5% in the 4th quarter. Rhumbline Advisers now owns 43,677 shares of the company’s stock valued at $175,000 after acquiring an additional 4,161 shares during the last quarter. Wellington Management Group LLP lifted its stake in Solid Biosciences by 4.0% in the 4th quarter. Wellington Management Group LLP now owns 124,551 shares of the company’s stock worth $498,000 after purchasing an additional 4,747 shares in the last quarter. Geode Capital Management LLC lifted its stake in Solid Biosciences by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 509,802 shares of the company’s stock worth $2,040,000 after purchasing an additional 4,932 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Solid Biosciences by 12.3% during the 4th quarter. American Century Companies Inc. now owns 46,857 shares of the company’s stock worth $187,000 after purchasing an additional 5,126 shares during the last quarter. Institutional investors and hedge funds own 81.46% of the company’s stock.

Solid Biosciences Stock Performance

NASDAQ:SLDB opened at $2.55 on Thursday. The stock has a market capitalization of $197.63 million, a P/E ratio of -0.84 and a beta of 2.32. Solid Biosciences Inc. has a fifty-two week low of $2.45 and a fifty-two week high of $10.46. The company has a 50 day moving average price of $3.63 and a 200 day moving average price of $4.26.

Analysts Set New Price Targets

SLDB has been the subject of several recent research reports. Chardan Capital reiterated a “buy” rating and set a $16.00 price objective on shares of Solid Biosciences in a research report on Friday, March 7th. HC Wainwright raised their target price on Solid Biosciences from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. JPMorgan Chase & Co. lowered their price target on shares of Solid Biosciences from $12.00 to $11.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Finally, Cantor Fitzgerald raised shares of Solid Biosciences to a “strong-buy” rating in a report on Tuesday. Eight analysts have rated the stock with a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $15.67.

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.