Solid Biosciences Inc. (NASDAQ:SLDB) Short Interest Up 237.4% in June

Solid Biosciences Inc. (NASDAQ:SLDB) was the recipient of a significant increase in short interest in June. As of June 30th, there was short interest totalling 3,050,000 shares, an increase of 237.4% from the June 15th total of 904,100 shares. Approximately 9.6% of the company’s stock are sold short. Based on an average daily trading volume, of 393,400 shares, the days-to-cover ratio is currently 7.8 days.

Analysts Set New Price Targets

A number of research analysts have weighed in on SLDB shares. Piper Sandler reaffirmed an “overweight” rating and issued a $20.00 price target on shares of Solid Biosciences in a research note on Friday, June 21st. HC Wainwright reiterated a “buy” rating and issued a $16.00 price objective on shares of Solid Biosciences in a report on Monday, May 20th. Leerink Partnrs upgraded shares of Solid Biosciences from a “hold” rating to a “strong-buy” rating in a report on Monday, June 24th. Barclays lowered their price objective on shares of Solid Biosciences from $21.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, May 16th. Finally, William Blair reiterated an “outperform” rating on shares of Solid Biosciences in a report on Thursday, March 28th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Solid Biosciences presently has an average rating of “Buy” and an average price target of $15.33.

Solid Biosciences Stock Performance

NASDAQ:SLDB traded down $0.28 during mid-day trading on Friday, reaching $7.91. 454,906 shares of the company’s stock were exchanged, compared to its average volume of 380,176. Solid Biosciences has a one year low of $1.81 and a one year high of $15.05. The firm has a market capitalization of $303.59 million, a PE ratio of -2.01 and a beta of 1.85. The business’s fifty day simple moving average is $7.82 and its two-hundred day simple moving average is $8.86. The company has a debt-to-equity ratio of 0.01, a quick ratio of 14.94 and a current ratio of 14.94.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings results on Wednesday, May 15th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). Analysts anticipate that Solid Biosciences will post -2.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Solid Biosciences

A number of large investors have recently bought and sold shares of SLDB. Vestal Point Capital LP acquired a new stake in Solid Biosciences during the fourth quarter worth about $209,000. Vanguard Group Inc. grew its stake in Solid Biosciences by 283.9% during the first quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock worth $16,578,000 after buying an additional 920,404 shares in the last quarter. Bain Capital Life Sciences Investors LLC grew its stake in Solid Biosciences by 28.9% during the first quarter. Bain Capital Life Sciences Investors LLC now owns 4,034,582 shares of the company’s stock worth $53,741,000 after buying an additional 904,160 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Solid Biosciences in the 1st quarter valued at approximately $23,935,000. Finally, Artal Group S.A. boosted its stake in shares of Solid Biosciences by 175.0% in the 1st quarter. Artal Group S.A. now owns 2,500,000 shares of the company’s stock valued at $33,300,000 after purchasing an additional 1,590,781 shares in the last quarter. 81.46% of the stock is currently owned by institutional investors and hedge funds.

Solid Biosciences Company 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.