Cubist Systematic Strategies LLC Invests $412,000 in Solid Biosciences Inc. (NASDAQ:SLDB)

Cubist Systematic Strategies LLC purchased a new position in shares of Solid Biosciences Inc. (NASDAQ:SLDB) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 72,645 shares of the company’s stock, valued at approximately $412,000. Cubist Systematic Strategies LLC owned 0.19% of Solid Biosciences at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new position in Solid Biosciences in the 2nd quarter valued at approximately $639,000. Algert Global LLC bought a new position in Solid Biosciences in the 2nd quarter valued at approximately $82,000. Susquehanna Fundamental Investments LLC bought a new position in Solid Biosciences in the 2nd quarter valued at approximately $92,000. Millennium Management LLC lifted its stake in Solid Biosciences by 135.7% in the 2nd quarter. Millennium Management LLC now owns 1,728,065 shares of the company’s stock valued at $9,798,000 after purchasing an additional 994,984 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new position in Solid Biosciences in the 2nd quarter valued at approximately $58,000. Institutional investors own 81.46% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on SLDB shares. HC Wainwright restated a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a research report on Wednesday, August 14th. William Blair upgraded shares of Solid Biosciences to a “strong-buy” rating in a research report on Friday, August 30th. Barclays decreased their price target on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. Leerink Partners upgraded shares of Solid Biosciences from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a research report on Monday, June 24th. Finally, Piper Sandler restated an “overweight” rating and issued a $20.00 price target on shares of Solid Biosciences in a research report on Friday, June 21st. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Solid Biosciences has an average rating of “Buy” and an average target price of $15.67.

Solid Biosciences Price Performance

SLDB opened at $6.05 on Monday. The company’s 50-day moving average price is $7.89 and its two-hundred day moving average price is $8.44. Solid Biosciences Inc. has a twelve month low of $1.81 and a twelve month high of $15.05. The stock has a market cap of $233.53 million, a price-to-earnings ratio of -1.83 and a beta of 1.90.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.61) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.05. As a group, sell-side analysts anticipate that Solid Biosciences Inc. will post -2.61 earnings per share for the current year.

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.