Trexquant Investment LP Takes $341,000 Position in Solid Biosciences Inc (SLDB)

Trexquant Investment LP acquired a new position in shares of Solid Biosciences Inc (NASDAQ:SLDB) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 7,235 shares of the company’s stock, valued at approximately $341,000.

Several other institutional investors also recently bought and sold shares of the company. FMR LLC increased its holdings in Solid Biosciences by 424.4% in the third quarter. FMR LLC now owns 317,997 shares of the company’s stock valued at $15,003,000 after buying an additional 257,354 shares in the last quarter. American International Group Inc. grew its position in shares of Solid Biosciences by 36.3% in the third quarter. American International Group Inc. now owns 8,085 shares of the company’s stock valued at $381,000 after purchasing an additional 2,154 shares during the last quarter. BlackRock Inc. grew its position in shares of Solid Biosciences by 30.6% in the third quarter. BlackRock Inc. now owns 778,249 shares of the company’s stock valued at $36,718,000 after purchasing an additional 182,315 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Solid Biosciences by 31.0% in the third quarter. Bank of New York Mellon Corp now owns 41,778 shares of the company’s stock valued at $1,971,000 after purchasing an additional 9,889 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in shares of Solid Biosciences in the third quarter valued at approximately $24,288,000. 63.59% of the stock is currently owned by institutional investors and hedge funds.

In related news, COO Pedro Alvaro Amorrortu sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $30.83, for a total transaction of $277,470.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jorge Armando Quiroz sold 40,150 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $31.21, for a total transaction of $1,253,081.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,240 shares of company stock worth $4,033,763.

Several research firms have recently commented on SLDB. Citigroup increased their price target on shares of Solid Biosciences from $25.00 to $31.00 and gave the company a “sell” rating in a research report on Monday, December 3rd. Zacks Investment Research upgraded shares of Solid Biosciences from a “sell” rating to a “hold” rating in a research report on Thursday, August 16th. Finally, Credit Suisse Group began coverage on shares of Solid Biosciences in a research report on Thursday, September 6th. They issued a “neutral” rating and a $38.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $42.56.

SLDB stock opened at $25.69 on Friday. The company has a market capitalization of $1.02 billion and a PE ratio of -8.92. Solid Biosciences Inc has a 12 month low of $6.83 and a 12 month high of $54.84.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings results on Tuesday, November 13th. The company reported ($0.55) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.01. Sell-side analysts predict that Solid Biosciences Inc will post -2.21 EPS for the current fiscal 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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