Acadian Asset Management LLC Invests $379,000 in Solid Biosciences Inc. (NASDAQ:SLDB)

Acadian Asset Management LLC purchased a new position in shares of Solid Biosciences Inc. (NASDAQ:SLDB) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 67,073 shares of the company’s stock, valued at approximately $379,000.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Solid Biosciences by 283.9% in the first quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock valued at $16,578,000 after acquiring an additional 920,404 shares during the period. Janus Henderson Group PLC acquired a new stake in shares of Solid Biosciences in the 1st quarter worth approximately $23,935,000. Vestal Point Capital LP acquired a new stake in shares of Solid Biosciences in the 4th quarter worth approximately $209,000. Rhumbline Advisers purchased a new position in shares of Solid Biosciences in the second quarter valued at $191,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Solid Biosciences during the 2nd quarter worth $392,000. 81.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SLDB shares. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a report on Wednesday, August 14th. Barclays reduced their price objective on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 14th. William Blair upgraded Solid Biosciences to a “strong-buy” rating in a report on Friday, August 30th. JPMorgan Chase & Co. raised Solid Biosciences from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $10.00 to $15.00 in a research note on Monday, July 15th. Finally, Leerink Partners upgraded shares of Solid Biosciences from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company in a report on Monday, June 24th. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $15.67.

Solid Biosciences Stock Up 12.0 %

Shares of SLDB stock opened at $8.00 on Friday. Solid Biosciences Inc. has a fifty-two week low of $1.81 and a fifty-two week high of $15.05. The firm’s 50 day moving average price is $8.47 and its two-hundred day moving average price is $9.08. The stock has a market cap of $308.80 million, a price-to-earnings ratio of -2.03 and a beta of 1.92.

Solid Biosciences (NASDAQ:SLDB) last posted its earnings results on Tuesday, August 13th. The company reported ($0.61) EPS for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.05. On average, equities analysts forecast that Solid Biosciences Inc. will post -2.61 EPS for the current fiscal 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.