MetLife Investment Advisors LLC lowered its stake in shares of Solid Biosciences Inc (NASDAQ:SLDB) by 36.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,744 shares of the company’s stock after selling 3,249 shares during the period. MetLife Investment Advisors LLC’s holdings in Solid Biosciences were worth $154,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the stock. Partner Fund Management L.P. raised its position in shares of Solid Biosciences by 66.9% in the fourth quarter. Partner Fund Management L.P. now owns 1,335,080 shares of the company’s stock worth $35,780,000 after buying an additional 535,303 shares in the last quarter. BlackRock Inc. raised its position in shares of Solid Biosciences by 56.0% in the fourth quarter. BlackRock Inc. now owns 1,214,410 shares of the company’s stock worth $32,546,000 after buying an additional 436,161 shares in the last quarter. Jennison Associates LLC purchased a new stake in shares of Solid Biosciences in the fourth quarter worth $21,109,000. Vanguard Group Inc raised its position in Solid Biosciences by 82.0% during the third quarter. Vanguard Group Inc now owns 675,180 shares of the company’s stock valued at $31,855,000 after purchasing an additional 304,286 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Solid Biosciences by 82.0% during the third quarter. Vanguard Group Inc. now owns 675,180 shares of the company’s stock valued at $31,855,000 after purchasing an additional 304,286 shares in the last quarter. Institutional investors own 68.35% of the company’s stock.
In other Solid Biosciences news, major shareholder Boxer Capital, Llc sold 450,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $9.88, for a total transaction of $4,446,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
A number of equities research analysts have weighed in on SLDB shares. Leerink Swann downgraded Solid Biosciences from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 7th. ValuEngine upgraded Solid Biosciences from a “hold” rating to a “buy” rating in a research report on Tuesday, March 19th. Citigroup upgraded Solid Biosciences from a “sell” rating to a “neutral” rating and set a $8.00 price target on the stock in a research report on Friday, February 8th. Zacks Investment Research downgraded Solid Biosciences from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Svb Leerink downgraded Solid Biosciences from an “outperform” rating to a “market perform” rating in a research report on Friday, February 8th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $29.38.
NASDAQ SLDB opened at $9.36 on Thursday. Solid Biosciences Inc has a twelve month low of $5.97 and a twelve month high of $54.84. The company has a current ratio of 10.31, a quick ratio of 10.31 and a debt-to-equity ratio of 0.01. The stock has a market cap of $328.02 million, a price-to-earnings ratio of -4.16 and a beta of 1.83.
Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings results on Wednesday, March 13th. The company reported ($0.67) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.58) by ($0.09). On average, analysts predict that Solid Biosciences Inc will post -2.53 EPS for the current fiscal year.
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About Solid Biosciences
Solid Biosciences Inc, a life science company, engages in identifying and developing therapies for duchenne muscular dystrophy (DMD) in the United States. The company's lead product candidate is SGT-001, an adeno-associated viral vector-mediated gene transfer, which is in a Phase I/II clinical trial to restore functional dystrophin protein expression in patients' muscles.
Further Reading: What is Cost of Goods Sold (COGS)?
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