Geode Capital Management LLC Has $3.52 Million Stake in Solid Biosciences Inc. (NASDAQ:SLDB)

Geode Capital Management LLC lowered its position in Solid Biosciences Inc. (NASDAQ:SLDB) by 1.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 504,870 shares of the company’s stock after selling 8,616 shares during the period. Geode Capital Management LLC’s holdings in Solid Biosciences were worth $3,520,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company bought a new stake in Solid Biosciences in the third quarter worth approximately $71,000. Point72 DIFC Ltd acquired a new stake in shares of Solid Biosciences in the 2nd quarter valued at $58,000. Ground Swell Capital LLC bought a new stake in Solid Biosciences in the second quarter worth $76,000. MetLife Investment Management LLC increased its position in Solid Biosciences by 129.1% during the third quarter. MetLife Investment Management LLC now owns 13,699 shares of the company’s stock worth $95,000 after buying an additional 7,719 shares during the last quarter. Finally, Algert Global LLC bought a new position in Solid Biosciences during the second quarter valued at about $82,000. Institutional investors own 81.46% of the company’s stock.

Solid Biosciences Stock Performance

NASDAQ SLDB opened at $4.10 on Tuesday. Solid Biosciences Inc. has a twelve month low of $3.85 and a twelve month high of $15.05. The stock has a market cap of $163.82 million, a PE ratio of -1.35 and a beta of 2.05. The firm has a 50-day simple moving average of $5.02 and a 200 day simple moving average of $6.67.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.12). Research analysts forecast that Solid Biosciences Inc. will post -2.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JMP Securities initiated coverage on Solid Biosciences in a report on Tuesday, December 10th. They set an “outperform” rating and a $15.00 price objective on the stock. JPMorgan Chase & Co. dropped their price target on shares of Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Chardan Capital reaffirmed a “buy” rating and set a $15.00 price objective on shares of Solid Biosciences in a report on Monday, November 11th. Wedbush initiated coverage on shares of Solid Biosciences in a report on Friday, December 13th. They issued an “outperform” rating and a $16.00 target price on the stock. Finally, HC Wainwright restated a “buy” rating and set a $16.00 price target on shares of Solid Biosciences in a report on Thursday, December 12th. Eight analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $15.22.

Insider Buying and Selling at Solid Biosciences

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

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.