Solid Biosciences Inc. (NASDAQ:SLDB) Sees Large Growth in Short Interest

Solid Biosciences Inc. (NASDAQ:SLDBGet Free Report) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 7,320,000 shares, an increase of 148.1% from the February 13th total of 2,950,000 shares. Approximately 12.3% of the shares of the stock are sold short. Based on an average trading volume of 2,130,000 shares, the days-to-cover ratio is presently 3.4 days.

Analyst Ratings Changes

SLDB has been the subject of a number of recent analyst reports. Chardan Capital reiterated a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a research report on Friday, March 7th. Wedbush started coverage on Solid Biosciences in a research report on Friday, December 13th. They set an “outperform” rating and a $16.00 price objective for the company. Citizens Jmp upgraded Solid Biosciences to a “strong-buy” rating in a research report on Tuesday, December 10th. HC Wainwright upped their price objective on Solid Biosciences from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Finally, JMP Securities started coverage on Solid Biosciences in a research report on Tuesday, December 10th. They set an “outperform” rating and a $15.00 price objective for the company. Nine investment analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $15.70.

Check Out Our Latest Analysis on Solid Biosciences

Institutional Investors Weigh In On Solid Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN increased its stake in shares of Solid Biosciences by 29.4% in the fourth quarter. Wells Fargo & Company MN now owns 13,138 shares of the company’s stock valued at $53,000 after buying an additional 2,986 shares during the period. Rhumbline Advisers grew its stake in Solid Biosciences by 10.5% during the fourth quarter. Rhumbline Advisers now owns 43,677 shares of the company’s stock worth $175,000 after purchasing an additional 4,161 shares during the period. Wellington Management Group LLP grew its stake in Solid Biosciences by 4.0% during the fourth quarter. Wellington Management Group LLP now owns 124,551 shares of the company’s stock worth $498,000 after purchasing an additional 4,747 shares during the period. Geode Capital Management LLC grew its stake in Solid Biosciences by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 509,802 shares of the company’s stock worth $2,040,000 after purchasing an additional 4,932 shares during the period. Finally, American Century Companies Inc. grew its stake in Solid Biosciences by 12.3% during the fourth quarter. American Century Companies Inc. now owns 46,857 shares of the company’s stock worth $187,000 after purchasing an additional 5,126 shares during the period. Institutional investors and hedge funds own 81.46% of the company’s stock.

Solid Biosciences Stock Down 1.0 %

Solid Biosciences stock traded down $0.05 during trading hours on Friday, hitting $5.09. The stock had a trading volume of 931,879 shares, compared to its average volume of 2,763,892. The stock has a market cap of $394.44 million, a price-to-earnings ratio of -1.67 and a beta of 1.98. The business’s 50 day simple moving average is $4.18 and its 200-day simple moving average is $5.47. Solid Biosciences has a one year low of $2.88 and a one year high of $15.05.

About Solid Biosciences

(Get Free Report)

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.

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