Solid Biosciences Inc. (NASDAQ:SLDB) Receives $15.67 Consensus Target Price from Analysts

Shares of Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) have been given an average recommendation of "Buy" by the twelve ratings firms that are covering the stock, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation and four have given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $15.67.

Several brokerages have recently issued reports on SLDB. HC Wainwright lifted their price target 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. 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. Chardan Capital reissued a "buy" rating and set a $16.00 price objective on shares of Solid Biosciences in a research note on Friday, March 7th. Finally, Truist Financial assumed coverage on shares of Solid Biosciences in a research report on Wednesday, January 8th. They set a "buy" rating and a $16.00 price target on the stock.

Institutional Investors Weigh In On Solid Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in Solid Biosciences by 9,393.8% during the fourth quarter. JPMorgan Chase & Co. now owns 955,932 shares of the company's stock worth $3,824,000 after acquiring an additional 945,863 shares during the period. Rhumbline Advisers raised its holdings in Solid Biosciences by 10.5% in the 4th quarter. Rhumbline Advisers now owns 43,677 shares of the company's stock valued at $175,000 after acquiring an additional 4,161 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Solid Biosciences by 4.0% during the 4th quarter. Wellington Management Group LLP now owns 124,551 shares of the company's stock valued at $498,000 after acquiring an additional 4,747 shares during the period. Barclays PLC increased its position in shares of Solid Biosciences by 412.1% in the third quarter. Barclays PLC now owns 62,856 shares of the company's stock worth $439,000 after purchasing an additional 50,582 shares during the period. Finally, Prudential Financial Inc. raised its stake in Solid Biosciences by 71.3% in the fourth quarter. Prudential Financial Inc. now owns 109,105 shares of the company's stock valued at $436,000 after purchasing an additional 45,400 shares in the last quarter. Institutional investors and hedge funds own 81.46% of the company's stock.

Solid Biosciences Trading Down 18.3 %

Shares of SLDB traded down $0.78 during trading hours on Friday, hitting $3.46. 2,317,187 shares of the stock traded hands, compared to its average volume of 2,145,614. The business has a fifty day moving average of $3.99 and a 200-day moving average of $4.38. The firm has a market capitalization of $267.77 million, a PE ratio of -1.14 and a beta of 2.32. Solid Biosciences has a 1-year low of $2.45 and a 1-year high of $10.99.

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.