Solid Biosciences Inc. (NASDAQ:SLDB) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Analyst sentiment is moderately bullish: Eleven of 12 analysts rate Solid Biosciences a buy, while one recommends selling. The average 12-month price target is $18.18, well above the reported share price of $8.70.
• Solid Biosciences reported quarterly EPS of -$0.38, beating the consensus estimate of -$0.46; analysts expect full-year EPS of approximately -$1.67.
• Institutional investors own 81.46% of the company, with several funds recently increasing or initiating positions. Solid is developing gene therapies including SGT-003 for Duchenne muscular dystrophy and SGT-501 for BAG3-associated dilated cardiomyopathy.

Shares of Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twelve ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $18.1818.

SLDB has been the subject of several research analyst reports. Cantor Fitzgerald raised their price objective on shares of Solid Biosciences from $16.00 to $26.00 and gave the stock an "overweight" rating in a report on Thursday, August 27th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Solid Biosciences in a report on Friday, July 17th. HC Wainwright increased their target price on Solid Biosciences from $20.00 to $25.00 and gave the stock a "buy" rating in a research report on Wednesday, June 3rd. Truist Financial raised their target price on Solid Biosciences from $16.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, August 21st. Finally, Wall Street Zen upgraded Solid Biosciences from a "strong sell" rating to a "sell" rating in a research report on Saturday, July 4th.

Solid Biosciences Stock Performance

Shares of Solid Biosciences stock opened at $8.70 on Monday. Solid Biosciences has a 12-month low of $3.79 and a 12-month high of $11.45. The company has a market cap of $932.81 million, a P/E ratio of -4.55 and a beta of 2.44. The company's fifty day simple moving average is $9.26 and its two-hundred day simple moving average is $8.12.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.08. Analysts predict that Solid Biosciences will post -1.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Solid Biosciences

Several large investors have recently made changes to their positions in the business. Legal & General Group Plc grew its stake in shares of Solid Biosciences by 208.6% in the 2nd quarter. Legal & General Group Plc now owns 6,011 shares of the company's stock worth $29,000 after buying an additional 4,063 shares during the last quarter. Creative Planning purchased a new position in Solid Biosciences during the second quarter valued at $57,000. Russell Investments Group Ltd. raised its stake in Solid Biosciences by 142.0% during the third quarter. Russell Investments Group Ltd. now owns 10,211 shares of the company's stock valued at $63,000 after buying an additional 5,991 shares during the last quarter. Polymer Capital Management US LLC bought a new stake in Solid Biosciences in the third quarter worth $94,000. Finally, Jain Global LLC bought a new position in shares of Solid Biosciences during the fourth quarter valued at $114,000. 81.46% of the stock is currently owned by hedge funds and other institutional investors.

About Solid Biosciences

Solid Biosciences Inc NASDAQ: SLDB is a biotechnology company developing genetic medicines for neuromuscular and cardiac diseases. The company combines gene therapy, genetic medicine and manufacturing technologies to design treatments intended to address the underlying causes of serious inherited disorders.

Solid's lead program is SGT-003, an investigational gene therapy being developed for Duchenne muscular dystrophy, a progressive genetic disease that causes muscle degeneration. The company is also advancing SGT-501, an investigational gene therapy for BAG3-associated dilated cardiomyopathy, a rare inherited heart condition.

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