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

Key Points

• Solid Biosciences has a consensus analyst rating of “Moderate Buy” from 11 covering firms, with nine buy ratings, one strong buy, and one sell. The average 1-year price target is about $17.11.
• The stock was down 1.9% in recent trading, opening at $7.83, well below its 12-month high of $11.45. It has a market cap of about $770.9 million and a beta of 2.36, indicating elevated volatility.
• The company missed quarterly earnings expectations, reporting EPS of -$0.52 versus the expected -$0.40. Solid Biosciences remains a clinical-stage biotech focused on Duchenne muscular dystrophy therapies, including its lead gene therapy candidate SGT-001.

Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eleven ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $17.1111.

Several brokerages have issued reports on SLDB. Piper Sandler reaffirmed an "overweight" rating and issued a $18.00 target price (up from $17.00) on shares of Solid Biosciences in a report on Wednesday, May 13th. Wall Street Zen upgraded Solid Biosciences from a "strong sell" rating to a "sell" rating in a report on Saturday, July 4th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Solid Biosciences in a research note on Friday, July 17th. Truist Financial raised shares of Solid Biosciences to a "strong-buy" rating in a research report on Monday, April 27th. Finally, Wedbush cut their price objective on Solid Biosciences from $17.00 to $16.00 and set an "outperform" rating for the company in a report on Wednesday, May 13th.

Solid Biosciences Stock Down 1.9%

Solid Biosciences stock opened at $7.83 on Friday. Solid Biosciences has a twelve month low of $3.79 and a twelve month high of $11.45. The company has a market capitalization of $770.86 million, a P/E ratio of -4.02 and a beta of 2.36. The stock's 50 day moving average is $8.24 and its 200 day moving average is $7.35.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.12). As a group, equities analysts expect that Solid Biosciences will post -1.9 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. MetLife Investment Management LLC boosted its position in shares of Solid Biosciences by 10.4% in the fourth quarter. MetLife Investment Management LLC now owns 33,202 shares of the company's stock worth $187,000 after purchasing an additional 3,124 shares during the period. Legal & General Group Plc raised its stake in Solid Biosciences by 208.6% during the 2nd quarter. Legal & General Group Plc now owns 6,011 shares of the company's stock valued at $29,000 after purchasing an additional 4,063 shares during the period. Intech Investment Management LLC lifted its holdings in Solid Biosciences by 15.2% in the 4th quarter. Intech Investment Management LLC now owns 34,485 shares of the company's stock worth $194,000 after purchasing an additional 4,539 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Solid Biosciences by 142.0% in the third quarter. Russell Investments Group Ltd. now owns 10,211 shares of the company's stock worth $63,000 after buying an additional 5,991 shares in the last quarter. Finally, Fox Run Management L.L.C. boosted its position in shares of Solid Biosciences by 35.1% during the fourth quarter. Fox Run Management L.L.C. now owns 25,005 shares of the company's stock worth $141,000 after acquiring an additional 6,491 shares during the last quarter. Hedge funds and other institutional investors own 81.46% of the company's stock.

Solid Biosciences Company Profile

Solid Biosciences Inc is a clinical‐stage biotechnology company focused on the development of therapies for Duchenne muscular dystrophy (DMD), a rare genetic disorder characterized by progressive muscle degeneration. The company's primary approach centers on gene replacement and gene editing technologies designed to restore functional dystrophin protein in patients lacking this critical muscle‐stabilizing protein.

Solid's lead investigational therapy, SGT‐001, is a micro‐dystrophin gene therapy candidate engineered to deliver a shortened but functional form of the dystrophin gene using an adeno‐associated virus (AAV) vector.

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