Solid Biosciences Inc. (NASDAQ:SLDB) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Solid Biosciences Inc. has received a consensus rating of “Moderate Buy” from twelve brokerages, with an average 12-month price target of $15.00.
• Shares of Solid Biosciences are currently trading at $5.52, down 2.1%, and have a market capitalization of approximately $429.84 million.
• Institutional investors own 81.46% of Solid Biosciences, with significant increases in holdings by firms like Legal & General Group and Ameritas Investment Partners.

Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the twelve ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $15.00.

A number of equities research analysts recently weighed in on SLDB shares. Cantor Fitzgerald set a $16.00 price objective on Solid Biosciences and gave the company an "overweight" rating in a research report on Monday, July 21st. Chardan Capital restated a "buy" rating and issued a $15.00 price target on shares of Solid Biosciences in a report on Thursday, August 14th. Wall Street Zen downgraded shares of Solid Biosciences from a "hold" rating to a "sell" rating in a research report on Sunday, October 19th. Wedbush reduced their price objective on shares of Solid Biosciences from $17.00 to $14.00 and set an "outperform" rating for the company in a research note on Wednesday, August 13th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Solid Biosciences in a research note on Wednesday, October 8th.

Solid Biosciences Stock Down 2.1%

Shares of NASDAQ:SLDB opened at $5.52 on Friday. The firm has a 50 day moving average of $5.72 and a 200 day moving average of $4.85. The company has a market capitalization of $429.84 million, a price-to-earnings ratio of -1.97 and a beta of 2.53. Solid Biosciences has a 52 week low of $2.41 and a 52 week high of $7.37.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.09. On average, sell-side analysts expect that Solid Biosciences will post -2.84 EPS for the current year.

Institutional Trading of Solid Biosciences

Institutional investors have recently made changes to their positions in the business. Legal & General Group Plc increased its position 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 buying an additional 4,063 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Solid Biosciences by 205.5% in the second quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company's stock worth $33,000 after acquiring an additional 4,534 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Solid Biosciences by 10.6% during the first quarter. American Century Companies Inc. now owns 51,835 shares of the company's stock worth $192,000 after acquiring an additional 4,978 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Solid Biosciences by 8.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 68,607 shares of the company's stock valued at $254,000 after acquiring an additional 5,220 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of Solid Biosciences by 80.7% during the first quarter. China Universal Asset Management Co. Ltd. now owns 15,308 shares of the company's stock valued at $57,000 after acquiring an additional 6,836 shares in the last quarter. Institutional investors and hedge funds own 81.46% of the company's stock.

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.

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