Vestal Point Capital LP Has $19.52 Million Stake in Solid Biosciences Inc. (NASDAQ:SLDB)

Vestal Point Capital LP raised its stake in Solid Biosciences Inc. (NASDAQ:SLDB) by 5.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,800,000 shares of the company’s stock after purchasing an additional 135,000 shares during the quarter. Solid Biosciences accounts for about 1.5% of Vestal Point Capital LP’s portfolio, making the stock its 22nd biggest position. Vestal Point Capital LP owned approximately 7.01% of Solid Biosciences worth $19,516,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Janus Henderson Group PLC bought a new position in Solid Biosciences during the 1st quarter valued at $23,935,000. Millennium Management LLC boosted its holdings in Solid Biosciences by 135.7% during the second quarter. Millennium Management LLC now owns 1,728,065 shares of the company’s stock worth $9,798,000 after purchasing an additional 994,984 shares during the last quarter. Vanguard Group Inc. grew its position in Solid Biosciences by 283.9% in the 1st quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock worth $16,578,000 after purchasing an additional 920,404 shares in the last quarter. Marshall Wace LLP purchased a new stake in Solid Biosciences in the 2nd quarter valued at about $1,554,000. Finally, Renaissance Technologies LLC lifted its position in shares of Solid Biosciences by 303.6% during the 2nd quarter. Renaissance Technologies LLC now owns 277,564 shares of the company’s stock worth $1,574,000 after buying an additional 208,793 shares in the last quarter. Institutional investors own 81.46% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. William Blair raised Solid Biosciences to a “strong-buy” rating in a report on Friday, August 30th. Barclays decreased their target price on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. JPMorgan Chase & Co. cut their price target on shares of Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. HC Wainwright restated a “buy” rating and set a $16.00 price objective on shares of Solid Biosciences in a report on Thursday, November 7th. Finally, Chardan Capital reiterated a “buy” rating and issued a $15.00 target price on shares of Solid Biosciences in a research note on Monday, November 11th. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Solid Biosciences has an average rating of “Buy” and an average price target of $15.14.

Solid Biosciences Stock Down 1.6 %

SLDB stock opened at $5.69 on Friday. The stock has a 50-day simple moving average of $6.13 and a two-hundred day simple moving average of $7.35. Solid Biosciences Inc. has a twelve month low of $2.70 and a twelve month high of $15.05. The firm has a market capitalization of $227.37 million, a PE ratio of -1.87 and a beta of 1.92.

Solid Biosciences (NASDAQ:SLDB) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.12). On average, equities research analysts anticipate that Solid Biosciences Inc. will post -2.85 EPS for the current fiscal year.

Solid Biosciences Company Profile

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.