Solid Biosciences Inc. (NASDAQ:SLDB) Given Consensus Rating of "Buy" by Brokerages

Shares of Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) have earned a consensus rating of "Buy" from the twelve ratings firms that are currently covering the firm, MarketBeat reports. Ten investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $15.10.

A number of equities analysts have commented on the stock. HC Wainwright reaffirmed a "buy" rating and set a $20.00 target price on shares of Solid Biosciences in a research note on Tuesday, June 17th. Cantor Fitzgerald reissued an "overweight" rating and issued a $16.00 price target on shares of Solid Biosciences in a research note on Thursday, May 22nd. Wedbush reduced their price target on shares of Solid Biosciences from $18.00 to $17.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Piper Sandler dropped their price objective on shares of Solid Biosciences from $20.00 to $17.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Finally, Chardan Capital dropped their price objective on shares of Solid Biosciences from $16.00 to $15.00 and set a "buy" rating for the company in a report on Monday, May 19th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its stake in shares of Solid Biosciences by 9,393.8% in the fourth quarter. JPMorgan Chase & Co. now owns 955,932 shares of the company's stock worth $3,824,000 after buying an additional 945,863 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Solid Biosciences by 12.7% in the fourth quarter. Renaissance Technologies LLC now owns 82,493 shares of the company's stock worth $330,000 after purchasing an additional 9,281 shares during the period. Wellington Management Group LLP boosted its holdings in Solid Biosciences by 4.0% in the fourth quarter. Wellington Management Group LLP now owns 124,551 shares of the company's stock worth $498,000 after purchasing an additional 4,747 shares during the period. Prudential Financial Inc. boosted its holdings in Solid Biosciences by 71.3% in the fourth quarter. Prudential Financial Inc. now owns 109,105 shares of the company's stock worth $436,000 after purchasing an additional 45,400 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of Solid Biosciences by 87.9% during the fourth quarter. Bank of America Corp DE now owns 83,471 shares of the company's stock valued at $334,000 after acquiring an additional 39,056 shares during the period. Hedge funds and other institutional investors own 81.46% of the company's stock.

Solid Biosciences Trading Up 10.4%

Shares of NASDAQ:SLDB traded up $0.60 on Wednesday, reaching $6.39. 3,438,857 shares of the company traded hands, compared to its average volume of 1,226,917. Solid Biosciences has a 52 week low of $2.41 and a 52 week high of $10.37. The business's 50-day simple moving average is $4.26 and its 200 day simple moving average is $4.01. The stock has a market capitalization of $495.32 million, a P/E ratio of -2.14 and a beta of 2.34.

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