Solid Biosciences (NASDAQ:SLDB) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Solid Biosciences (NASDAQ:SLDB - Free Report) in a report issued on Thursday morning,Benzinga reports. They currently have a $16.00 target price on the stock.

A number of other research analysts also recently commented on the stock. Barclays cut their target price on shares of Solid Biosciences from $15.00 to $10.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. JPMorgan Chase & Co. cut their price objective on shares of Solid Biosciences from $12.00 to $11.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Piper Sandler reduced their price objective on shares of Solid Biosciences from $20.00 to $17.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. HC Wainwright upped their target price on Solid Biosciences from $16.00 to $20.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Finally, Wedbush cut their price target on Solid Biosciences from $18.00 to $17.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Ten analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Solid Biosciences currently has a consensus rating of "Buy" and a consensus target price of $14.90.

Solid Biosciences Stock Performance

NASDAQ SLDB traded up $0.23 on Thursday, reaching $3.04. 714,992 shares of the stock traded hands, compared to its average volume of 1,074,693. Solid Biosciences has a 12 month low of $2.41 and a 12 month high of $10.37. The company has a market cap of $235.26 million, a price-to-earnings ratio of -1.00 and a beta of 2.32. The company has a fifty day moving average price of $3.24 and a 200-day moving average price of $4.07.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.06). As a group, research analysts anticipate that Solid Biosciences will post -2.84 earnings per share for the current fiscal year.

Institutional Trading of Solid Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. Adage Capital Partners GP L.L.C. increased its position in Solid Biosciences by 285.0% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 6,729,484 shares of the company's stock valued at $24,899,000 after buying an additional 4,981,400 shares in the last quarter. Bain Capital Life Sciences Investors LLC boosted its holdings in Solid Biosciences by 96.1% in the first quarter. Bain Capital Life Sciences Investors LLC now owns 7,911,669 shares of the company's stock worth $29,273,000 after acquiring an additional 3,877,087 shares in the last quarter. Siren L.L.C. grew its stake in shares of Solid Biosciences by 97.8% during the first quarter. Siren L.L.C. now owns 7,415,905 shares of the company's stock worth $27,439,000 after acquiring an additional 3,666,864 shares during the last quarter. MPM Bioimpact LLC acquired a new position in shares of Solid Biosciences during the first quarter valued at about $6,077,000. Finally, Redmile Group LLC raised its position in shares of Solid Biosciences by 228.2% in the 1st quarter. Redmile Group LLC now owns 2,019,171 shares of the company's stock valued at $7,471,000 after purchasing an additional 1,403,925 shares during the last quarter. Hedge funds and other institutional investors 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.