JPMorgan Chase & Co. Increases Stock Holdings in Solid Biosciences Inc. (NASDAQ:SLDB)

JPMorgan Chase & Co. boosted its stake in shares of Solid Biosciences Inc. (NASDAQ:SLDB) by 9,393.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 955,932 shares of the company’s stock after buying an additional 945,863 shares during the quarter. JPMorgan Chase & Co.’s holdings in Solid Biosciences were worth $3,824,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SLDB. Barclays PLC raised its stake in shares of Solid Biosciences by 412.1% in the third quarter. Barclays PLC now owns 62,856 shares of the company’s stock valued at $439,000 after acquiring an additional 50,582 shares during the period. Prudential Financial Inc. grew its holdings in Solid Biosciences by 71.3% during the 4th quarter. Prudential Financial Inc. now owns 109,105 shares of the company’s stock valued at $436,000 after purchasing an additional 45,400 shares during the last quarter. State Street Corp grew its holdings in Solid Biosciences by 9.2% during the 3rd quarter. State Street Corp now owns 441,540 shares of the company’s stock valued at $3,078,000 after purchasing an additional 37,130 shares during the last quarter. Quantum Private Wealth LLC raised its position in Solid Biosciences by 81.8% in the 4th quarter. Quantum Private Wealth LLC now owns 57,333 shares of the company’s stock worth $229,000 after purchasing an additional 25,800 shares during the period. Finally, XTX Topco Ltd bought a new stake in Solid Biosciences in the third quarter worth about $121,000. 81.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on SLDB. HC Wainwright upped their target price on Solid Biosciences from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Truist Financial started coverage on Solid Biosciences in a report on Wednesday, January 8th. They set a “buy” rating and a $16.00 price objective for the company. Chardan Capital reiterated a “buy” rating and issued a $16.00 target price on shares of Solid Biosciences in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Solid Biosciences from $12.00 to $11.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Eight research analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Solid Biosciences currently has a consensus rating of “Buy” and a consensus price target of $15.67.

Solid Biosciences Stock Performance

NASDAQ SLDB opened at $2.55 on Monday. The company has a market cap of $197.61 million, a PE ratio of -0.84 and a beta of 2.07. The firm’s 50 day moving average price is $4.32 and its 200-day moving average price is $4.61. Solid Biosciences Inc. has a 52-week low of $2.45 and a 52-week high of $10.99.

Solid Biosciences Profile

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.