Solid Biosciences (NASDAQ:SLDB) Share Price Breaks Above 50 Day Moving Average - Should You Sell?

Key Points

• Solid Biosciences shares rose 6%, trading as high as $7.86 and closing at $7.60, above the 50-day moving average of $7.33.
• Analyst sentiment is broadly positive: the stock has a “Moderate Buy” consensus and an average price target of $20, though one analyst rates it Sell.
• The company reported a quarterly loss of $0.36 per share, better than the $0.41 loss analysts expected; institutional investors own about 81.5% of its shares.

Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) shares passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $7.33 and traded as high as $7.86. Solid Biosciences shares last traded at $7.60, with a volume of 1,957,909 shares changing hands.

Analyst Ratings Changes

Several brokerages recently weighed in on SLDB. UBS Group began coverage on shares of Solid Biosciences in a report on Wednesday, October 14th. They issued a "buy" rating and a $20.00 target price on the stock. Royal Bank Of Canada began coverage on shares of Solid Biosciences in a research report on Wednesday, September 16th. They issued an "outperform" rating and a $18.00 price objective on the stock. Cantor Fitzgerald raised their price objective on shares of Solid Biosciences from $16.00 to $26.00 and gave the company an "overweight" rating in a report on Thursday, August 27th. Truist Financial lifted 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 Friday, August 21st. Finally, Loop Capital set a $25.00 target price on shares of Solid Biosciences in a research note on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $20.00.

Solid Biosciences Trading Up 6.0%

The firm's fifty day moving average price is $7.33 and its 200-day moving average price is $7.67. The firm has a market cap of $848.24 million, a price-to-earnings ratio of -4.25 and a beta of 2.65.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.05. On average, sell-side analysts expect that Solid Biosciences Inc. will post -1.60 earnings per share for the current year.

Institutional Trading of Solid Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Solid Biosciences in the 3rd quarter valued at about $40,000. China Universal Asset Management Co. Ltd. grew its stake in Solid Biosciences by 24.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 19,564 shares of the company's stock worth $140,000 after buying an additional 3,896 shares during the last quarter. AXQ Capital LP acquired a new position in Solid Biosciences during the second quarter worth approximately $197,000. Hsbc Holdings PLC increased its position in Solid Biosciences by 78.4% during the first quarter. Hsbc Holdings PLC now owns 39,511 shares of the company's stock worth $284,000 after buying an additional 17,360 shares during the period. Finally, Engineers Gate Manager LP increased its position in Solid Biosciences by 34.5% during the second quarter. Engineers Gate Manager LP now owns 28,915 shares of the company's stock worth $289,000 after buying an additional 7,410 shares during the period. Institutional investors and hedge funds own 81.46% of the company's stock.

About Solid Biosciences

Solid Biosciences is a biotechnology company developing genetic medicines for Duchenne muscular dystrophy and other serious neuromuscular and cardiac diseases. The company's research focuses on gene-transfer approaches intended to address underlying causes of these conditions. Its lead program, SGT-003, is an investigational gene therapy being developed for Duchenne muscular dystrophy. Solid Biosciences also has research programs targeting other rare diseases. These programs are in development, and its therapies have not been established as approved treatments.

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