Solid Biosciences (NASDAQ:SLDB) Given New $15.00 Price Target at Chardan Capital

Solid Biosciences (NASDAQ:SLDB - Get Free Report) had its price target reduced by stock analysts at Chardan Capital from $16.00 to $15.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. Chardan Capital's target price would indicate a potential upside of 433.81% from the company's previous close.

Other analysts have also issued research reports about the stock. HC Wainwright boosted their price target on shares of Solid Biosciences from $16.00 to $20.00 and gave the company a "buy" rating in a research report on Monday, March 10th. Barclays lowered their price target on shares of Solid Biosciences from $15.00 to $10.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Cantor Fitzgerald raised shares of Solid Biosciences to a "strong-buy" rating in a research report on Tuesday, May 13th. Piper Sandler lowered their price target on shares of Solid Biosciences from $20.00 to $17.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Solid Biosciences from $12.00 to $11.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Ten research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $14.90.

Solid Biosciences Stock Performance

SLDB stock traded down $0.08 during mid-day trading on Monday, hitting $2.81. The company had a trading volume of 871,960 shares, compared to its average volume of 1,072,215. The firm has a market cap of $217.82 million, a PE ratio of -0.92 and a beta of 2.32. Solid Biosciences has a 12 month low of $2.41 and a 12 month high of $10.37. The stock's fifty day moving average price is $3.28 and its two-hundred day moving average price is $4.12.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.06). Equities analysts anticipate that Solid Biosciences will post -2.84 earnings per share for the current year.

Hedge Funds Weigh In On Solid Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of SLDB. CWM LLC grew its stake in Solid Biosciences by 15,188.5% in the 1st quarter. CWM LLC now owns 7,950 shares of the company's stock worth $29,000 after buying an additional 7,898 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in Solid Biosciences in the 4th quarter worth approximately $34,000. Corton Capital Inc. purchased a new position in Solid Biosciences in the 4th quarter worth approximately $41,000. Ground Swell Capital LLC purchased a new position in Solid Biosciences in the 1st quarter worth approximately $42,000. Finally, Invesco Ltd. purchased a new position in Solid Biosciences in the 4th quarter worth approximately $49,000. Hedge funds and other institutional investors own 81.46% of the company's stock.

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.