Solid Biosciences Inc. [NASDAQ: SLDB] slipped around -0.15 points on Tuesday, while shares priced at $5.51 at the close of the session, down -2.65%. The company report on March 24, 2021 that Solid Biosciences Announces Closing of Public Offering and Full Exercise of Over-Allotment Option.
Solid Biosciences Inc., (Nasdaq: SLDB) a life sciences company focused on advancing meaningful therapies for Duchenne muscular dystrophy (Duchenne), announced the closing of its previously announced underwritten public offering of 25,000,000 shares of its common stock at a public offering price of $5.75 per share, including 3,260,869 shares sold pursuant to the full exercise of the underwriters’ option to purchase additional shares. Gross proceeds from the sale of the shares, before deducting underwriting discounts and commissions and offering expenses, were approximately $143.8 million.
Jefferies, SVB Leerink and Piper Sandler acted as joint book-running managers for the offering. Chardan acted as lead manager for the offering.
Solid Biosciences Inc. stock is now -27.31% down from its year-to-date (YTD) trading value. SLDB Stock saw the intraday high of $5.70 and lowest of $5.34 per share. The company’s 52-week high price is 11.58, which means current price is +3.18% above from all time high which was touched on 02/24/21.
Compared to the average trading volume of 1.66M shares, SLDB reached a trading volume of 2000061 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Solid Biosciences Inc. [SLDB]?
SVB Leerink have made an estimate for Solid Biosciences Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 16, 2021. While these analysts kept the previous recommendation, Barclays raised their target price to Overweight. The new note on the price target was released on March 09, 2021, representing the official price target for Solid Biosciences Inc. stock. Previously, the target price had yet another raise from $2 to $7, while Credit Suisse kept a Neutral rating on SLDB stock.
The Average True Range (ATR) for Solid Biosciences Inc. is set at 1.05 The Price to Book ratio for the last quarter was 2.64, with the Price to Cash per share for the same quarter was set at 1.75.
How has SLDB stock performed recently?
Solid Biosciences Inc. [SLDB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.31. With this latest performance, SLDB shares dropped by -19.80% in over the last four-week period, additionally plugging by 139.57% over the last 6 months – not to mention a rise of 136.48% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SLDB stock in for the last two-week period is set at 35.69, with the RSI for the last a single of trading hit 28.66, and the three-weeks RSI is set at 40.12 for Solid Biosciences Inc. [SLDB]. The present Moving Average for the last 50 days of trading for this stock 7.58, while it was recorded at 5.94 for the last single week of trading, and 4.51 for the last 200 days.
Solid Biosciences Inc. [SLDB]: Deeper insight into the fundamentals
Return on Total Capital for SLDB is now -77.08, given the latest momentum, and Return on Invested Capital for the company is -80.18. Return on Equity for this stock declined to -83.24, with Return on Assets sitting at -64.30. When it comes to the capital structure of this company, Solid Biosciences Inc. [SLDB] has a Total Debt to Total Equity ratio set at 3.90. Additionally, SLDB Total Debt to Total Capital is recorded at 3.75, with Total Debt to Total Assets ending up at 3.01. Long-Term Debt to Equity for the company is recorded at 2.23, with the Long-Term Debt to Total Capital now at 2.15.
Reflecting on the efficiency of the workforce at the company, Solid Biosciences Inc. [SLDB] managed to generate an average of -$1,261,286 per employee.Solid Biosciences Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.50 and a Current Ratio set at 6.50.
Earnings analysis for Solid Biosciences Inc. [SLDB]
With the latest financial reports released by the company, Solid Biosciences Inc. posted -0.56/share EPS, while the average EPS was predicted by analysts to be reported at -0.52/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -7.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SLDB.
Insider trade positions for Solid Biosciences Inc. [SLDB]
There are presently around $301 million, or 64.40% of SLDB stock, in the hands of institutional investors. The top three institutional holders of SLDB stocks are: PERCEPTIVE ADVISORS LLC with ownership of 10,803,857, which is approximately 60.062% of the company’s market cap and around 16.60% of the total institutional ownership; RA CAPITAL MANAGEMENT, L.P., holding 9,976,569 shares of the stock with an approximate value of $54.97 million in SLDB stocks shares; and ECOR1 CAPITAL, LLC, currently with $43.96 million in SLDB stock with ownership of nearly New of the company’s market capitalization.
Positions in Solid Biosciences Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 58 institutional holders increased their position in Solid Biosciences Inc. [NASDAQ:SLDB] by around 31,336,099 shares. Additionally, 23 investors decreased positions by around 2,555,272 shares, while 6 investors held positions by with 20,713,413 shares. The mentioned changes placed institutional holdings at 54,604,784 shares, according to the latest SEC report filing. SLDB stock had 25 new institutional investments in for a total of 13,307,401 shares, while 12 institutional investors sold positions of 2,127,369 shares during the same period.