Point72 Asset Management L.P. Acquires 330,234 Shares of Solid Biosciences Inc. (NASDAQ:SLDB)

Point72 Asset Management L.P. raised its holdings in Solid Biosciences Inc. (NASDAQ:SLDB) by 292.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 443,010 shares of the company’s stock after purchasing an additional 330,234 shares during the quarter. Point72 Asset Management L.P. owned 1.11% of Solid Biosciences worth $3,088,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in Solid Biosciences by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 70,827 shares of the company’s stock worth $402,000 after purchasing an additional 5,287 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in Solid Biosciences by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 13,699 shares of the company’s stock worth $95,000 after purchasing an additional 7,719 shares in the last quarter. American Century Companies Inc. lifted its holdings in Solid Biosciences by 39.9% during the 2nd quarter. American Century Companies Inc. now owns 34,557 shares of the company’s stock worth $196,000 after purchasing an additional 9,853 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Solid Biosciences during the 3rd quarter worth about $71,000. Finally, Point72 DIFC Ltd purchased a new stake in Solid Biosciences during the 2nd quarter worth about $58,000. Institutional investors own 81.46% of the company’s stock.

Insider Buying and Selling at Solid Biosciences

In other news, COO David T. Howton sold 5,072 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total value of $28,403.20. Following the completion of the transaction, the chief operating officer now owns 15,663 shares in the company, valued at $87,712.80. The trade was a 24.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Alexander Cumbo sold 11,114 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total value of $62,238.40. Following the completion of the transaction, the chief executive officer now owns 38,484 shares of the company’s stock, valued at $215,510.40. This represents a 22.41 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,719 shares of company stock worth $135,457. 13.63% of the stock is owned by insiders.

Solid Biosciences Price Performance

SLDB opened at $5.11 on Tuesday. The stock’s 50 day simple moving average is $5.83 and its 200 day simple moving average is $7.14. Solid Biosciences Inc. has a 1 year low of $3.80 and a 1 year high of $15.05. The firm has a market cap of $204.20 million, a price-to-earnings ratio of -1.68 and a beta of 2.01.

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

Analyst Ratings Changes

A number of analysts recently issued reports on SLDB shares. HC Wainwright reissued a “buy” rating and set a $16.00 price objective on shares of Solid Biosciences in a report on Thursday, November 7th. William Blair raised Solid Biosciences to a “strong-buy” rating in a report on Friday, August 30th. Barclays lowered 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. JPMorgan Chase & Co. lowered their price target on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $15.00 price target on shares of Solid Biosciences in a report on Monday, November 11th. Seven analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Solid Biosciences has an average rating of “Buy” and a consensus target price of $15.14.

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.