Solid Biosciences (NASDAQ:SLDB) Cut to Sell at Wall Street Zen

Key Points

• Solid Biosciences has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, indicating a significant shift in analyst sentiment towards the company.
• Cantor Fitzgerald has set a price target of $16.00 and an "overweight" rating, while other analysts have varied targets, with a consensus average price target of $15.00.
• Solid Biosciences reported a quarterly EPS of ($0.42), surpassing expectations, yet is expected to post -2.84 EPS for the current year according to analyst estimates.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Sunday.

Several other equities analysts also recently issued reports on SLDB. Cantor Fitzgerald set a $16.00 price target on shares of Solid Biosciences and gave the company an "overweight" rating in a research note on Monday, July 21st. Wedbush dropped their price target 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. Citigroup initiated coverage on shares of Solid Biosciences in a research note on Thursday, June 26th. They set a "buy" rating and a $14.00 price target for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Solid Biosciences in a research note on Wednesday, October 8th. Finally, Chardan Capital reissued a "buy" rating and set a $15.00 target price on shares of Solid Biosciences in a research note on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $15.00.

Solid Biosciences Price Performance

Shares of NASDAQ:SLDB opened at $5.88 on Friday. The company has a market cap of $457.88 million, a price-to-earnings ratio of -2.10 and a beta of 2.53. The firm has a 50 day simple moving average of $5.75 and a 200 day simple moving average of $4.79. Solid Biosciences has a one year low of $2.41 and a one year high of $7.37.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last released its quarterly 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. As a group, analysts expect that Solid Biosciences will post -2.84 EPS for the current year.

Institutional Investors Weigh In On Solid Biosciences

Large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. grew its holdings in Solid Biosciences by 32.2% in the first quarter. Goldman Sachs Group Inc. now owns 180,137 shares of the company's stock worth $667,000 after purchasing an additional 43,910 shares during the period. Alyeska Investment Group L.P. grew its holdings in Solid Biosciences by 373.7% in the first quarter. Alyeska Investment Group L.P. now owns 1,640,821 shares of the company's stock worth $6,071,000 after purchasing an additional 1,294,450 shares during the period. Allianz Asset Management GmbH acquired a new stake in Solid Biosciences in the first quarter worth $100,000. Knott David M Jr acquired a new stake in Solid Biosciences in the first quarter worth $488,000. Finally, XTX Topco Ltd acquired a new stake in Solid Biosciences in the first quarter worth $151,000. 81.46% of the stock is currently owned by institutional investors and hedge funds.

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.

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