Solid Biosciences Inc. (NASDAQ:SLDB) Shares Sold by ADAR1 Capital Management LLC

ADAR1 Capital Management LLC cut its position in shares of Solid Biosciences Inc. (NASDAQ:SLDB) by 87.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 148,903 shares of the company’s stock after selling 996,689 shares during the period. ADAR1 Capital Management LLC’s holdings in Solid Biosciences were worth $596,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SLDB. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Solid Biosciences in the fourth quarter valued at approximately $34,000. Sei Investments Co. acquired a new stake in shares of Solid Biosciences during the 4th quarter worth $52,000. Wells Fargo & Company MN increased its holdings in Solid Biosciences by 29.4% in the 4th quarter. Wells Fargo & Company MN now owns 13,138 shares of the company’s stock valued at $53,000 after purchasing an additional 2,986 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Solid Biosciences during the third quarter valued at about $71,000. Finally, MetLife Investment Management LLC raised its position in shares of Solid Biosciences by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 13,699 shares of the company’s stock valued at $95,000 after acquiring an additional 7,719 shares in the last quarter. Hedge funds and other institutional investors own 81.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SLDB shares. JPMorgan Chase & Co. cut their target price on Solid Biosciences from $12.00 to $11.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Truist Financial started coverage on shares of Solid Biosciences in a research report on Wednesday, January 8th. They issued a “buy” rating and a $16.00 price target for the company. Chardan Capital reaffirmed a “buy” rating and issued a $16.00 target price on shares of Solid Biosciences in a research note on Friday, March 7th. JMP Securities began coverage on Solid Biosciences in a report on Tuesday, December 10th. They issued an “outperform” rating and a $15.00 price target for the company. Finally, Wedbush started coverage on Solid Biosciences in a report on Friday, December 13th. They set an “outperform” rating and a $16.00 target price on the stock. Eight investment analysts have rated the stock with a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, Solid Biosciences presently has an average rating of “Buy” and a consensus target price of $15.67.

Solid Biosciences Stock Performance

Shares of Solid Biosciences stock opened at $3.12 on Monday. The stock has a market capitalization of $241.78 million, a PE ratio of -1.03 and a beta of 2.07. The company has a 50-day simple moving average of $4.44 and a two-hundred day simple moving average of $4.98. Solid Biosciences Inc. has a 52-week low of $2.88 and a 52-week high of $12.32.

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.