Barclays Lowers Solid Biosciences (NASDAQ:SLDB) Price Target to $18.00

Solid Biosciences (NASDAQ:SLDB - Free Report) had its price target reduced by Barclays from $21.00 to $18.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also recently commented on the stock. HC Wainwright reaffirmed a buy rating and issued a $16.00 price objective on shares of Solid Biosciences in a research report on Thursday, March 14th. Piper Sandler raised Solid Biosciences from a neutral rating to an overweight rating and upped their price target for the stock from $8.00 to $20.00 in a research report on Thursday, March 14th. Citigroup assumed coverage on shares of Solid Biosciences in a research note on Friday, March 15th. They issued a buy rating and a $16.00 target price for the company. Finally, William Blair reaffirmed an outperform rating on shares of Solid Biosciences in a research note on Thursday, March 28th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Solid Biosciences has a consensus rating of Buy and a consensus target price of $17.50.

Solid Biosciences Stock Performance

NASDAQ SLDB traded down $0.39 during midday trading on Thursday, hitting $9.30. The company had a trading volume of 196,864 shares, compared to its average volume of 303,720. Solid Biosciences has a fifty-two week low of $1.81 and a fifty-two week high of $15.05. The stock has a market cap of $352.10 million, a price-to-earnings ratio of -1.91 and a beta of 2.02. The firm has a fifty day simple moving average of $11.10 and a two-hundred day simple moving average of $7.77. The company has a quick ratio of 8.94, a current ratio of 8.94 and a debt-to-equity ratio of 0.01.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last posted its quarterly earnings results on Wednesday, March 13th. The company reported ($1.00) earnings per share for the quarter, topping analysts' consensus estimates of ($1.01) by $0.01. Equities analysts forecast that Solid Biosciences will post -2.64 earnings per share for the current fiscal year.

Institutional Trading of Solid Biosciences

Several institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC bought a new position in shares of Solid Biosciences during the first quarter valued at $23,935,000. Bain Capital Life Sciences Investors LLC boosted its stake in shares of Solid Biosciences by 28.9% in the 1st quarter. Bain Capital Life Sciences Investors LLC now owns 4,034,582 shares of the company's stock worth $53,741,000 after buying an additional 904,160 shares during the last quarter. Vanguard Group Inc. increased its position in Solid Biosciences by 283.9% during the first quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company's stock valued at $16,578,000 after acquiring an additional 920,404 shares during the last quarter. Finally, Vestal Point Capital LP purchased a new position in Solid Biosciences in the fourth quarter worth about $209,000. 81.46% of the stock is currently owned by hedge funds and other institutional investors.

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.