Quantum Private Wealth LLC Purchases New Stake in Solid Biosciences Inc. (NASDAQ:SLDB)

Quantum Private Wealth LLC purchased a new stake in Solid Biosciences Inc. (NASDAQ:SLDB) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 31,533 shares of the company’s stock, valued at approximately $220,000. Quantum Private Wealth LLC owned approximately 0.08% of Solid Biosciences at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Point72 DIFC Ltd acquired a new stake in Solid Biosciences in the second quarter valued at $58,000. Ground Swell Capital LLC bought a new stake in Solid Biosciences during the second quarter valued at $76,000. Algert Global LLC bought a new stake in Solid Biosciences during the second quarter valued at $82,000. Susquehanna Fundamental Investments LLC bought a new stake in Solid Biosciences during the second quarter valued at $92,000. Finally, Rhumbline Advisers bought a new stake in Solid Biosciences during the second quarter valued at $191,000. 81.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on SLDB shares. JPMorgan Chase & Co. upgraded shares of Solid Biosciences from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $10.00 to $15.00 in a research note on Monday, July 15th. William Blair upgraded shares of Solid Biosciences to a “strong-buy” rating in a research note on Friday, August 30th. Barclays lowered their price target on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. Finally, HC Wainwright restated a “buy” rating and set a $16.00 price target on shares of Solid Biosciences in a research report on Thursday. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $15.67.

Solid Biosciences Stock Performance

Solid Biosciences stock opened at $5.77 on Friday. The company has a 50-day simple moving average of $6.91 and a 200-day simple moving average of $7.78. Solid Biosciences Inc. has a one year low of $2.00 and a one year high of $15.05.

Solid Biosciences (NASDAQ:SLDB) last announced its earnings results on Wednesday, November 6th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.12). On average, research analysts predict that Solid Biosciences Inc. will post -2.61 earnings per share for the current fiscal year.

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.