Solid Biosciences (NASDAQ:SLDB) Now Covered by Analysts at William Blair

Key Points

• William Blair initiated coverage of Solid Biosciences with an “outperform” rating. Overall, analysts have a “Moderate Buy” consensus and an average price target of $20, though one analyst rates the stock a sell.
• Solid Biosciences reported a quarterly loss of $0.36 per share, beating analyst expectations of a $0.41 loss.
• Shares traded at $6.88 on Monday, well below the $20 average analyst price target; the stock’s 52-week range is $4.01 to $11.45.

Analysts at William Blair began coverage on shares of Solid Biosciences (NASDAQ:SLDB - Get Free Report) in a research report issued on Monday. The firm set an "outperform" rating on the stock.

Other equities analysts also recently issued research reports about the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Solid Biosciences in a research note on Thursday, October 15th. Truist Financial boosted their price objective on Solid Biosciences from $16.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, August 21st. Cantor Fitzgerald increased their price objective on Solid Biosciences from $16.00 to $26.00 and gave the stock an "overweight" rating in a research note on Thursday, August 27th. Loop Capital set a $25.00 target price on Solid Biosciences in a report on Monday, September 14th. Finally, UBS Group assumed coverage on Solid Biosciences in a research report on Wednesday, October 14th. They set a "buy" rating and a $20.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $20.00.

Solid Biosciences Stock Performance

Shares of Solid Biosciences stock traded up $0.29 during trading hours on Monday, reaching $6.88. The company's stock had a trading volume of 79,744 shares, compared to its average volume of 1,353,482. Solid Biosciences has a one year low of $4.01 and a one year high of $11.45. The company has a market capitalization of $767.43 million, a P/E ratio of -3.87 and a beta of 2.65. The stock's fifty day simple moving average is $7.48 and its two-hundred day simple moving average is $7.66.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.41) by $0.05. As a group, research analysts forecast that Solid Biosciences will post -1.65 earnings per share for the current year.

Institutional Investors Weigh In On Solid Biosciences

Institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its stake in shares of Solid Biosciences by 32.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 63,928 shares of the company's stock worth $462,000 after buying an additional 15,628 shares during the last quarter. Alps Advisors Inc. increased its position in shares of Solid Biosciences by 42.2% during the third quarter. Alps Advisors Inc. now owns 142,048 shares of the company's stock valued at $1,027,000 after acquiring an additional 42,132 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Solid Biosciences during the third quarter valued at approximately $40,000. China Universal Asset Management Co. Ltd. increased its position in shares of Solid Biosciences by 24.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 19,564 shares of the company's stock valued at $140,000 after acquiring an additional 3,896 shares during the last quarter. Finally, Engineers Gate Manager LP lifted its holdings in Solid Biosciences by 34.5% during the second quarter. Engineers Gate Manager LP now owns 28,915 shares of the company's stock worth $289,000 after acquiring an additional 7,410 shares during the period. 81.46% of the stock is owned by institutional investors.

About Solid Biosciences

Solid Biosciences Inc NASDAQ: SLDB is a biotechnology company focused on developing gene therapies for neuromuscular and other serious genetic diseases. The company uses adeno-associated virus (AAV) delivery technologies and genetic medicine approaches to develop treatments intended to address the underlying causes of disease.

Its lead investigational program, SGT-003, is being developed as a gene therapy for Duchenne muscular dystrophy, a severe X-linked muscle-wasting disorder. Solid Biosciences also has additional preclinical and clinical programs targeting other neuromuscular conditions, including diseases associated with defects in muscle proteins.

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