Solid Biosciences Inc (NASDAQ:SLDB)’s share price reached a new 52-week low during trading on Tuesday following a weaker than expected earnings announcement. The company traded as low as $5.23 and last traded at $6.30, with a volume of 3399754 shares. The stock had previously closed at $8.85.

The company reported ($0.85) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.63) by ($0.22).

A number of brokerages have recently commented on SLDB. Leerink Swann lowered Solid Biosciences from an “outperform” rating to a “market perform” rating in a report on Thursday, February 7th. ValuEngine upgraded Solid Biosciences from a “hold” rating to a “buy” rating in a report on Tuesday, March 19th. Citigroup upgraded Solid Biosciences from a “sell” rating to a “neutral” rating and set a $8.00 price target for the company in a report on Friday, February 8th. Zacks Investment Research lowered Solid Biosciences from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, Svb Leerink lowered Solid Biosciences from an “outperform” rating to a “market perform” rating in a report on Friday, February 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. Solid Biosciences currently has an average rating of “Hold” and a consensus price target of $20.11.

In other news, Director Juan Andrey Zarur sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $10.00, for a total transaction of $80,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Boxer Capital, Llc sold 450,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $9.88, for a total value of $4,446,000.00. The disclosure for this sale can be found here. 31.20% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of SLDB. Legal & General Group Plc increased its position in shares of Solid Biosciences by 47.8% during the third quarter. Legal & General Group Plc now owns 1,825 shares of the company’s stock valued at $86,000 after purchasing an additional 590 shares during the period. First Manhattan Co. increased its position in shares of Solid Biosciences by 100.0% during the fourth quarter. First Manhattan Co. now owns 2,000 shares of the company’s stock valued at $53,000 after purchasing an additional 1,000 shares during the period. Flinton Capital Management LLC bought a new stake in shares of Solid Biosciences during the fourth quarter valued at approximately $47,000. TIAA CREF Investment Management LLC increased its position in shares of Solid Biosciences by 12.5% during the third quarter. TIAA CREF Investment Management LLC now owns 22,524 shares of the company’s stock valued at $1,063,000 after purchasing an additional 2,504 shares during the period. Finally, Teachers Advisors LLC increased its position in shares of Solid Biosciences by 14.3% during the third quarter. Teachers Advisors LLC now owns 21,653 shares of the company’s stock valued at $1,022,000 after purchasing an additional 2,710 shares during the period. Institutional investors own 63.39% of the company’s stock.

The stock has a market cap of $209.30 million, a PE ratio of -2.63 and a beta of 1.68. The company has a quick ratio of 10.31, a current ratio of 10.31 and a debt-to-equity ratio of 0.01.

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Solid Biosciences Company Profile (NASDAQ:SLDB)

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: Mutual Funds

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