Solid Biosciences Inc. (NASDAQ:SLDB) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have received an average rating of “Moderate Buy” from the twelve research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $17.00.

A number of analysts have recently commented on SLDB shares. Wedbush dropped their price objective on Solid Biosciences from $17.00 to $16.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Chardan Capital reiterated a “buy” rating and issued a $15.00 target price on shares of Solid Biosciences in a report on Friday, March 20th. Guggenheim started coverage on Solid Biosciences in a report on Friday, March 20th. They issued a “buy” rating and a $26.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Solid Biosciences in a report on Tuesday, April 21st. Finally, Truist Financial upgraded Solid Biosciences to a “strong-buy” rating in a report on Monday, April 27th.

Institutional Trading of Solid Biosciences

A number of institutional investors have recently modified their holdings of SLDB. AQR Capital Management LLC purchased a new stake in shares of Solid Biosciences during the 1st quarter worth about $418,000. Goldman Sachs Group Inc. grew its holdings in shares of Solid Biosciences by 32.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 180,137 shares of the company’s stock worth $667,000 after purchasing an additional 43,910 shares during the period. Woodline Partners LP purchased a new stake in shares of Solid Biosciences during the 1st quarter worth about $2,338,000. Creative Planning purchased a new stake in shares of Solid Biosciences during the 2nd quarter worth about $57,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Solid Biosciences by 111.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 34,379 shares of the company’s stock worth $167,000 after purchasing an additional 18,094 shares during the period. Hedge funds and other institutional investors own 81.46% of the company’s stock.

Solid Biosciences Price Performance

SLDB opened at $7.14 on Friday. The stock has a market capitalization of $702.93 million, a price-to-earnings ratio of -3.66 and a beta of 2.43. The business has a 50-day moving average of $7.37 and a two-hundred day moving average of $6.59. Solid Biosciences has a 12 month low of $3.79 and a 12 month high of $8.87.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.12). Equities research analysts anticipate that Solid Biosciences will post -1.9 earnings per share for the current year.

About Solid Biosciences

Solid Biosciences Inc is a clinical‐stage biotechnology company focused on the development of therapies for Duchenne muscular dystrophy (DMD), a rare genetic disorder characterized by progressive muscle degeneration. The company’s primary approach centers on gene replacement and gene editing technologies designed to restore functional dystrophin protein in patients lacking this critical muscle‐stabilizing protein.

Solid’s lead investigational therapy, SGT‐001, is a micro‐dystrophin gene therapy candidate engineered to deliver a shortened but functional form of the dystrophin gene using an adeno‐associated virus (AAV) vector.