Chardan Capital Has Lowered Expectations for Solid Biosciences (NASDAQ:SLDB) Stock Price

Solid Biosciences (NASDAQ:SLDB - Get Free Report) had its price target reduced by investment analysts at Chardan Capital from $16.00 to $15.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. Chardan Capital's price target would indicate a potential upside of 441.52% from the stock's previous close.

Several other equities research analysts have also issued reports on SLDB. HC Wainwright increased their price objective on shares of Solid Biosciences from $16.00 to $20.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Cantor Fitzgerald raised shares of Solid Biosciences to a "strong-buy" rating in a research report on Tuesday, May 13th. Barclays lowered their price target on Solid Biosciences from $15.00 to $10.00 and set an "overweight" rating for the company in a report on Friday. Piper Sandler reduced their price objective on Solid Biosciences from $20.00 to $17.00 and set an "overweight" rating on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. decreased their target price on Solid Biosciences from $12.00 to $11.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Nine research analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat, Solid Biosciences presently has an average rating of "Buy" and a consensus target price of $14.78.

Solid Biosciences Price Performance

NASDAQ SLDB opened at $2.77 on Monday. The firm has a market capitalization of $214.68 million, a P/E ratio of -0.91 and a beta of 2.32. Solid Biosciences has a 1-year low of $2.41 and a 1-year high of $10.37. The business's 50-day simple moving average is $3.52 and its 200-day simple moving average is $4.20.

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

Institutional Trading of Solid Biosciences

Several large investors have recently modified their holdings of the business. CWM LLC lifted its stake in shares of Solid Biosciences by 15,188.5% in the first quarter. CWM LLC now owns 7,950 shares of the company's stock worth $29,000 after acquiring an additional 7,898 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in Solid Biosciences in the fourth quarter worth about $34,000. Corton Capital Inc. acquired a new position in shares of Solid Biosciences in the 4th quarter worth approximately $41,000. Ground Swell Capital LLC acquired a new stake in shares of Solid Biosciences during the 1st quarter valued at approximately $42,000. Finally, Invesco Ltd. bought a new position in Solid Biosciences during the fourth quarter worth $49,000. 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.

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