Short Interest in Solid Biosciences Inc. (NASDAQ:SLDB) Declines By 30.0%

Solid Biosciences Inc. (NASDAQ:SLDB) was the recipient of a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 30,100 shares, a decrease of 30.0% from the August 15th total of 43,000 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily volume of 21,200 shares, the days-to-cover ratio is currently 1.4 days.

Solid Biosciences Price Performance

NASDAQ:SLDB traded down $0.14 during mid-day trading on Friday, reaching $3.12. The stock had a trading volume of 50,882 shares, compared to its average volume of 13,566. Solid Biosciences has a one year low of $3.00 and a one year high of $9.69. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.56 and a current ratio of 10.56. The firm has a 50 day moving average price of $3.99 and a two-hundred day moving average price of $4.89. The stock has a market capitalization of $62.59 million, a P/E ratio of -0.50 and a beta of 1.34.

Solid Biosciences (NASDAQ:SLDB) last released its earnings results on Monday, August 14th. The company reported ($1.25) EPS for the quarter, beating the consensus estimate of ($1.52) by $0.27. As a group, analysts expect that Solid Biosciences will post -4.87 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SLDB. Charles Schwab Investment Management Inc. bought a new stake in Solid Biosciences in the 1st quarter worth $47,000. CIBC Asset Management Inc purchased a new position in Solid Biosciences during the 1st quarter valued at about $57,000. Tower Research Capital LLC TRC raised its position in Solid Biosciences by 102.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 23,950 shares of the company’s stock valued at $113,000 after purchasing an additional 12,099 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Solid Biosciences by 7.2% in the 1st quarter. Geode Capital Management LLC now owns 41,911 shares of the company’s stock worth $199,000 after buying an additional 2,830 shares during the period. Finally, Prudential Financial Inc. bought a new stake in shares of Solid Biosciences in the 2nd quarter worth approximately $28,000. 81.46% of the stock is owned by hedge funds and other institutional investors.

Solid Biosciences Company Profile

Solid Biosciences Inc, a life science company, engages in developing therapies for neuromuscular and cardiac diseases in the United States. The company's lead product candidate is SGT-003, a next-generation gene transfer candidate for the treatment of Duchenne muscular dystrophy (Duchenne); AVB-202-TT, a gene therapy program for the treatment of Friedreich's ataxia; AVB-401, a gene therapy program for the treatment of BAG3-mediated dilated cardiomyopathy; and other drugs for the treatment of undisclosed cardiac diseases.