Wellington Management Group LLP Increases Stock Position in Solid Biosciences Inc. (NASDAQ:SLDB)

Wellington Management Group LLP raised its position in Solid Biosciences Inc. (NASDAQ:SLDB) by 183.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 119,804 shares of the company’s stock after acquiring an additional 77,564 shares during the quarter. Wellington Management Group LLP’s holdings in Solid Biosciences were worth $835,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vestal Point Capital LP grew its stake in shares of Solid Biosciences by 5.1% in the third quarter. Vestal Point Capital LP now owns 2,800,000 shares of the company’s stock worth $19,516,000 after purchasing an additional 135,000 shares during the last quarter. Millennium Management LLC lifted its holdings in Solid Biosciences by 135.7% in the 2nd quarter. Millennium Management LLC now owns 1,728,065 shares of the company’s stock worth $9,798,000 after buying an additional 994,984 shares during the period. Point72 Asset Management L.P. grew its position in shares of Solid Biosciences by 292.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company’s stock worth $3,088,000 after buying an additional 330,234 shares during the last quarter. State Street Corp grew its position in shares of Solid Biosciences by 9.2% in the 3rd quarter. State Street Corp now owns 441,540 shares of the company’s stock worth $3,078,000 after buying an additional 37,130 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Solid Biosciences by 303.6% during the second quarter. Renaissance Technologies LLC now owns 277,564 shares of the company’s stock valued at $1,574,000 after buying an additional 208,793 shares during the period. 81.46% of the stock is owned by institutional investors.

Solid Biosciences Stock Down 0.5 %

Solid Biosciences stock opened at $4.01 on Friday. The stock’s 50 day moving average is $5.49 and its 200 day moving average is $6.98. The company has a market capitalization of $160.22 million, a P/E ratio of -1.32 and a beta of 2.01. Solid Biosciences Inc. has a twelve month low of $3.93 and a twelve month high of $15.05.

Solid Biosciences (NASDAQ:SLDB) last released its earnings results on Wednesday, November 6th. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.12). As a group, equities analysts expect that Solid Biosciences Inc. will post -2.85 EPS for the current year.

Analyst Ratings Changes

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

Insider Buying and Selling at Solid Biosciences

In related news, CEO Alexander Cumbo sold 11,114 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total transaction of $62,238.40. Following the completion of the sale, the chief executive officer now owns 38,484 shares of the company’s stock, valued at $215,510.40. This trade represents a 22.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jessie Hanrahan sold 4,610 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total value of $25,816.00. Following the sale, the insider now owns 14,235 shares in the company, valued at approximately $79,716. This represents a 24.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,719 shares of company stock worth $135,457. 13.63% of the stock is owned by corporate 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.