Boxer Capital Management LLC Makes New Investment in Solid Biosciences Inc. $SLDB

Boxer Capital Management LLC acquired a new stake in shares of Solid Biosciences Inc. (NASDAQ:SLDB) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 600,000 shares of the company’s stock, valued at approximately $3,702,000. Solid Biosciences comprises 1.2% of Boxer Capital Management LLC’s holdings, making the stock its 20th biggest position.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SLDB. Nantahala Capital Management LLC raised its holdings in shares of Solid Biosciences by 505.4% during the second quarter. Nantahala Capital Management LLC now owns 1,703,336 shares of the company’s stock worth $8,295,000 after purchasing an additional 1,421,968 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Solid Biosciences by 184.5% in the second quarter. Geode Capital Management LLC now owns 1,510,153 shares of the company’s stock valued at $7,356,000 after purchasing an additional 979,294 shares during the last quarter. Bank of America Corp DE boosted its holdings in Solid Biosciences by 2,150.4% in the second quarter. Bank of America Corp DE now owns 824,600 shares of the company’s stock valued at $4,016,000 after purchasing an additional 787,957 shares during the last quarter. Woodline Partners LP acquired a new stake in Solid Biosciences during the 1st quarter worth about $2,338,000. Finally, Armistice Capital LLC acquired a new stake in Solid Biosciences during the 2nd quarter worth about $1,948,000. Institutional investors and hedge funds own 81.46% of the company’s stock.

Insider Buying and Selling at Solid Biosciences

In related news, CEO Alexander Cumbo sold 80,258 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $6.44, for a total transaction of $516,861.52. Following the completion of the transaction, the chief executive officer owned 270,931 shares in the company, valued at $1,744,795.64. This represents a 22.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO David T. Howton sold 37,771 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $6.44, for a total transaction of $243,245.24. Following the completion of the transaction, the chief operating officer directly owned 116,753 shares in the company, valued at $751,889.32. This represents a 24.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 597,672 shares of company stock valued at $3,816,546. Insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Solid Biosciences in a research note on Thursday, January 22nd. Chardan Capital reiterated a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a research report on Thursday. Citigroup reissued a “market outperform” rating on shares of Solid Biosciences in a report on Wednesday, December 17th. Needham & Company LLC restated a “buy” rating and issued a $16.00 price objective on shares of Solid Biosciences in a research report on Monday, February 9th. Finally, Wedbush reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Solid Biosciences in a research note on Wednesday. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Solid Biosciences has an average rating of “Moderate Buy” and an average target price of $14.70.

Solid Biosciences Price Performance

Shares of NASDAQ:SLDB opened at $7.31 on Friday. The business’s 50 day moving average price is $6.24 and its 200-day moving average price is $5.73. Solid Biosciences Inc. has a 1 year low of $2.41 and a 1 year high of $8.72. The firm has a market capitalization of $569.52 million, a price-to-earnings ratio of -2.94 and a beta of 2.65.

About Solid Biosciences

Solid Biosciences Inc is a clinical‐stage biotechnology company focused on the development of therapies for Duchenne muscular dystrophy (DMD), a rare genetic disorder characterized by progressive muscle degeneration. The company’s primary approach centers on gene replacement and gene editing technologies designed to restore functional dystrophin protein in patients lacking this critical muscle‐stabilizing protein.

Solid’s lead investigational therapy, SGT‐001, is a micro‐dystrophin gene therapy candidate engineered to deliver a shortened but functional form of the dystrophin gene using an adeno‐associated virus (AAV) vector.