Solid Biosciences Inc. (NASDAQ:SLDB) Receives $14.90 Consensus PT from Analysts

Shares of Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) have earned a consensus rating of "Buy" from the thirteen ratings firms that are presently covering the company, MarketBeat reports. Ten analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $14.90.

Several research firms have issued reports on SLDB. Piper Sandler decreased their price objective on shares of Solid Biosciences from $20.00 to $17.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. HC Wainwright upped their price objective on shares of Solid Biosciences from $16.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, March 10th. JPMorgan Chase & Co. decreased their target price on shares of Solid Biosciences from $12.00 to $11.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Wedbush decreased their target price on shares of Solid Biosciences from $18.00 to $17.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $16.00 target price on shares of Solid Biosciences in a research note on Thursday, May 22nd.

Institutional Investors Weigh In On Solid Biosciences

A number of institutional investors have recently added to or reduced their stakes in the business. Woodline Partners LP purchased a new stake in Solid Biosciences in the 1st quarter valued at approximately $2,338,000. Goldman Sachs Group Inc. boosted its holdings in Solid Biosciences by 32.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 180,137 shares of the company's stock valued at $667,000 after purchasing an additional 43,910 shares in the last quarter. EcoR1 Capital LLC purchased a new stake in Solid Biosciences in the 1st quarter valued at approximately $2,754,000. Bain Capital Life Sciences Investors LLC boosted its holdings in Solid Biosciences by 96.1% in the 1st quarter. Bain Capital Life Sciences Investors LLC now owns 7,911,669 shares of the company's stock valued at $29,273,000 after purchasing an additional 3,877,087 shares in the last quarter. Finally, AQR Capital Management LLC purchased a new stake in Solid Biosciences in the 1st quarter valued at approximately $418,000. Hedge funds and other institutional investors own 81.46% of the company's stock.

Solid Biosciences Stock Performance

NASDAQ SLDB traded down $0.10 during trading hours on Tuesday, hitting $3.20. The company had a trading volume of 868,844 shares, compared to its average volume of 1,088,562. Solid Biosciences has a 1-year low of $2.41 and a 1-year high of $10.37. The company has a market cap of $248.05 million, a PE ratio of -1.05 and a beta of 2.32. The business has a 50 day moving average of $3.12 and a 200-day moving average of $4.01.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.06). Sell-side analysts expect that Solid Biosciences will post -2.84 earnings per share for the current fiscal year.

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.