First Manhattan Co. raised its stake in shares of Solid Biosciences Inc (NASDAQ:SLDB) by 100.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,000 shares of the company’s stock after purchasing an additional 1,000 shares during the quarter. First Manhattan Co.’s holdings in Solid Biosciences were worth $53,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SLDB. Legal & General Group Plc boosted its position in shares of Solid Biosciences by 47.8% during the 3rd quarter. Legal & General Group Plc now owns 1,825 shares of the company’s stock valued at $86,000 after acquiring an additional 590 shares during the last quarter. Vanguard Group Inc boosted its position in shares of Solid Biosciences by 82.0% during the 3rd quarter. Vanguard Group Inc now owns 675,180 shares of the company’s stock valued at $31,855,000 after acquiring an additional 304,286 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Solid Biosciences by 82.0% during the 3rd quarter. Vanguard Group Inc. now owns 675,180 shares of the company’s stock valued at $31,855,000 after acquiring an additional 304,286 shares during the last quarter. Morgan Stanley boosted its position in shares of Solid Biosciences by 107.3% during the 3rd quarter. Morgan Stanley now owns 45,104 shares of the company’s stock valued at $2,128,000 after acquiring an additional 23,351 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its position in shares of Solid Biosciences by 12.5% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 22,524 shares of the company’s stock valued at $1,063,000 after acquiring an additional 2,504 shares during the last quarter. 63.58% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Ilan Ganot sold 50,000 shares of Solid Biosciences stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $30.84, for a total transaction of $1,542,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew Bennett Arnold sold 5,000 shares of Solid Biosciences stock in a transaction on Monday, January 14th. The stock was sold at an average price of $32.00, for a total value of $160,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 149,240 shares of company stock valued at $4,614,793.

A number of research firms have recently commented on SLDB. Citigroup upgraded Solid Biosciences from a “sell” rating to a “neutral” rating and set a $8.00 target price for the company in a research report on Friday. Svb Leerink downgraded Solid Biosciences from an “outperform” rating to a “market perform” rating in a research report on Friday. Leerink Swann downgraded Solid Biosciences from an “outperform” rating to a “market perform” rating in a research report on Thursday. Zacks Investment Research downgraded Solid Biosciences from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. Finally, Chardan Capital reiterated a “buy” rating and set a $15.00 target price on shares of Solid Biosciences in a research report on Thursday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $35.00.

Shares of SLDB opened at $7.42 on Friday. The firm has a market capitalization of $791.56 million and a P/E ratio of -2.58. Solid Biosciences Inc has a 52-week low of $5.97 and a 52-week high of $54.84.

Solid Biosciences (NASDAQ:SLDB) last issued its quarterly earnings results on Tuesday, November 13th. The company reported ($0.55) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.01. On average, analysts anticipate that Solid Biosciences Inc will post -2.21 EPS for the current year.

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Solid Biosciences Profile

Solid Biosciences Inc engages in identifying and developing therapies for duchenne muscular dystrophy in the United States. Its lead product candidate includes SGT-001, a gene therapy that is in Phase I/II clinical trials to restore functional dystrophin protein expression in patients' muscles. The company's product candidates also comprise SB-001, a monoclonal antibody to reduce fibrosis and inflammation.

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Institutional Ownership by Quarter for Solid Biosciences (NASDAQ:SLDB)

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