Solid Biosciences Inc. (NASDAQ:SLDB) Receives $14.90 Average Price Target from Analysts

Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) has been assigned an average rating of "Buy" from the thirteen ratings firms that are covering the company, Marketbeat.com reports. Ten equities research analysts have rated the stock with a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $14.90.

Several analysts have commented on the company. Piper Sandler dropped their price objective on Solid Biosciences from $20.00 to $17.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Cantor Fitzgerald reissued an "overweight" rating and issued a $16.00 price target on shares of Solid Biosciences in a report on Thursday, May 22nd. JPMorgan Chase & Co. reduced their price objective on shares of Solid Biosciences from $12.00 to $11.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Wedbush reduced their price target on shares of Solid Biosciences from $18.00 to $17.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Finally, Barclays decreased their price target on shares of Solid Biosciences from $15.00 to $10.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th.

Institutional Investors Weigh In On Solid Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC grew its stake in shares of Solid Biosciences by 15,188.5% in the 1st quarter. CWM LLC now owns 7,950 shares of the company's stock valued at $29,000 after buying an additional 7,898 shares during the period. China Universal Asset Management Co. Ltd. purchased a new position in Solid Biosciences in the fourth quarter worth approximately $34,000. Corton Capital Inc. purchased a new position in Solid Biosciences in the fourth quarter worth approximately $41,000. Ground Swell Capital LLC acquired a new stake in Solid Biosciences during the first quarter worth $42,000. Finally, Invesco Ltd. purchased a new stake in Solid Biosciences in the fourth quarter valued at $49,000. 81.46% of the stock is currently owned by institutional investors and hedge funds.

Solid Biosciences Stock Performance

NASDAQ SLDB traded down $0.09 during mid-day trading on Tuesday, reaching $3.22. 389,761 shares of the stock were exchanged, compared to its average volume of 1,079,756. The company has a market capitalization of $249.21 million, a P/E ratio of -1.06 and a beta of 2.32. The business's 50 day moving average is $3.15 and its 200-day moving average is $4.04. Solid Biosciences has a 1 year low of $2.41 and a 1 year high of $10.37.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last posted its earnings results 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). Equities analysts predict 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.