Brokerages Set Solid Biosciences Inc. (NASDAQ:SLDB) Target Price at $15.67

Shares of Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) have received a consensus rating of "Buy" from the twelve analysts that are presently covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $15.67.

A number of research analysts recently weighed in on the stock. Truist Financial started coverage on shares of Solid Biosciences in a research report on Wednesday, January 8th. They issued a "buy" rating and a $16.00 target price for the company. JPMorgan Chase & Co. lowered their target price on Solid Biosciences from $12.00 to $11.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Wedbush started coverage on Solid Biosciences in a report on Friday, December 13th. They set an "outperform" rating and a $16.00 target price on the stock. Chardan Capital restated a "buy" rating and issued a $16.00 price target on shares of Solid Biosciences in a research note on Friday, March 7th. Finally, HC Wainwright boosted their price target on Solid Biosciences from $16.00 to $20.00 and gave the stock a "buy" rating in a research report on Monday, March 10th.

Institutional Investors Weigh In On Solid Biosciences

A number of large investors have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. bought a new position in Solid Biosciences during the fourth quarter worth $34,000. Corton Capital Inc. acquired a new stake in shares of Solid Biosciences during the 4th quarter worth about $41,000. Invesco Ltd. acquired a new stake in shares of Solid Biosciences during the 4th quarter worth about $49,000. Sei Investments Co. bought a new stake in shares of Solid Biosciences during the 4th quarter worth about $52,000. Finally, Wells Fargo & Company MN grew its stake in Solid Biosciences by 29.4% in the 4th quarter. Wells Fargo & Company MN now owns 13,138 shares of the company's stock valued at $53,000 after buying an additional 2,986 shares during the last quarter. Institutional investors own 81.46% of the company's stock.

Solid Biosciences Trading Up 1.1 %

Shares of NASDAQ SLDB traded up $0.03 during midday trading on Monday, reaching $2.70. The company's stock had a trading volume of 566,026 shares, compared to its average volume of 881,789. The stock has a 50 day simple moving average of $4.38 and a 200-day simple moving average of $4.81. The stock has a market capitalization of $209.23 million, a price-to-earnings ratio of -0.89 and a beta of 2.07. Solid Biosciences has a fifty-two week low of $2.48 and a fifty-two week high of $10.99.

About Solid Biosciences

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.