Boxer Capital Management LLC Takes Position in Solid Biosciences Inc. $SLDB

Boxer Capital Management LLC acquired a new position in shares of Solid Biosciences Inc. (NASDAQ:SLDB) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 600,000 shares of the company’s stock, valued at approximately $3,702,000. Solid Biosciences comprises 1.2% of Boxer Capital Management LLC’s investment portfolio, making the stock its 20th biggest position. Boxer Capital Management LLC owned approximately 0.77% of Solid Biosciences as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Quantum Private Wealth LLC grew its stake in Solid Biosciences by 3.9% in the third quarter. Quantum Private Wealth LLC now owns 94,231 shares of the company’s stock valued at $581,000 after purchasing an additional 3,500 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Solid Biosciences by 208.6% during the second quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock valued at $29,000 after buying an additional 4,063 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of Solid Biosciences by 205.5% during the second quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company’s stock valued at $33,000 after buying an additional 4,534 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Solid Biosciences by 142.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 10,211 shares of the company’s stock valued at $63,000 after buying an additional 5,991 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Solid Biosciences by 233.8% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 15,113 shares of the company’s stock valued at $74,000 after buying an additional 10,585 shares in the last quarter. Institutional investors own 81.46% of the company’s stock.

Insider Buying and Selling

In other Solid Biosciences news, COO David T. Howton sold 37,771 shares of Solid Biosciences stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $6.44, for a total transaction of $243,245.24. Following the completion of the sale, the chief operating officer owned 116,753 shares of the company’s stock, valued at approximately $751,889.32. The trade was a 24.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevin Tan sold 26,837 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $6.44, for a total value of $172,830.28. Following the sale, the chief financial officer owned 108,984 shares in the company, valued at approximately $701,856.96. The trade was a 19.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 597,672 shares of company stock worth $3,816,546 over the last three months. Corporate insiders own 1.90% of the company’s stock.

Solid Biosciences Trading Down 5.2%

NASDAQ:SLDB opened at $7.31 on Friday. The company has a market capitalization of $569.52 million, a P/E ratio of -2.94 and a beta of 2.65. Solid Biosciences Inc. has a 12 month low of $2.41 and a 12 month high of $8.72. The firm has a fifty day simple moving average of $6.24 and a 200-day simple moving average of $5.73.

Wall Street Analyst Weigh In

Several research analysts recently commented on SLDB shares. Citigroup reiterated a “market outperform” rating on shares of Solid Biosciences in a research note on Wednesday, December 17th. Chardan Capital restated a “buy” rating and issued a $15.00 target price on shares of Solid Biosciences in a research note on Thursday. Wedbush reaffirmed an “outperform” rating and issued a $14.00 price target on shares of Solid Biosciences in a report on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Solid Biosciences in a report on Thursday, January 22nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $16.00 price objective on shares of Solid Biosciences in a research report on Monday, February 9th. Ten research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Solid Biosciences has an average rating of “Moderate Buy” and a consensus price target of $14.70.

Solid Biosciences Company Profile

Solid Biosciences Inc is a clinical‐stage biotechnology company focused on the development of therapies for Duchenne muscular dystrophy (DMD), a rare genetic disorder characterized by progressive muscle degeneration. The company’s primary approach centers on gene replacement and gene editing technologies designed to restore functional dystrophin protein in patients lacking this critical muscle‐stabilizing protein.

Solid’s lead investigational therapy, SGT‐001, is a micro‐dystrophin gene therapy candidate engineered to deliver a shortened but functional form of the dystrophin gene using an adeno‐associated virus (AAV) vector.