Solid Biosciences Inc. (NASDAQ:SLDB) Sees Significant Growth in Short Interest

Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 920,900 shares, an increase of 49.8% from the March 15th total of 614,900 shares. Approximately 3.1% of the company's shares are short sold. Based on an average daily volume of 362,300 shares, the days-to-cover ratio is currently 2.5 days.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. HC Wainwright reiterated a "buy" rating and issued a $16.00 price target on shares of Solid Biosciences in a report on Thursday, March 14th. Citigroup started coverage on shares of Solid Biosciences in a research report on Friday, March 15th. They set a "buy" rating and a $16.00 price target on the stock. Barclays increased their price objective on shares of Solid Biosciences from $8.00 to $21.00 and gave the company an "overweight" rating in a research report on Monday, March 18th. William Blair reissued an "outperform" rating on shares of Solid Biosciences in a research report on Thursday, March 28th. Finally, Piper Sandler upgraded shares of Solid Biosciences from a "neutral" rating to an "overweight" rating and upped their price target for the company from $8.00 to $20.00 in a research note on Thursday, March 14th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $18.25.

Solid Biosciences Trading Down 2.7 %

Solid Biosciences stock traded down $0.29 during mid-day trading on Friday, hitting $10.37. 163,194 shares of the stock were exchanged, compared to its average volume of 324,993. 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 has a 12 month low of $1.81 and a 12 month high of $15.05. The firm's fifty day simple moving average is $10.85 and its two-hundred day simple moving average is $6.59. The stock has a market capitalization of $391.57 million, a price-to-earnings ratio of -2.14 and a beta of 1.93.

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 (EPS) for the quarter, beating the consensus estimate of ($1.01) by $0.01. Analysts forecast that Solid Biosciences will post -2.64 EPS for the current year.

Institutional Investors Weigh In On Solid Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Prudential Financial Inc. bought a new stake in shares of Solid Biosciences during the second quarter valued at about $28,000. Atria Wealth Solutions Inc. bought a new stake in shares of Solid Biosciences during the second quarter valued at about $33,000. Charles Schwab Investment Management Inc. purchased a new position in shares of Solid Biosciences during the first quarter worth about $47,000. CIBC Asset Management Inc purchased a new position in shares of Solid Biosciences during the first quarter worth about $57,000. Finally, Mirabella Financial Services LLP purchased a new position in shares of Solid Biosciences during the first quarter worth about $78,000. 81.46% of the stock is currently owned by institutional investors.

Solid Biosciences Company Profile

Solid Biosciences Inc, a life science company, engages in developing therapies for neuromuscular and cardiac diseases in the United States. The company's lead product candidate is SGT-003, a next-generation gene transfer candidate for the treatment of Duchenne muscular dystrophy (Duchenne); AVB-202-TT, a gene therapy program for the treatment of Friedreich's ataxia; AVB-401, a gene therapy program for the treatment of BAG3-mediated dilated cardiomyopathy; and other drugs for the treatment of undisclosed cardiac diseases.