Solid Biosciences (NASDAQ:SLDB) Price Target Lowered to $13.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has lowered its price target for Solid Biosciences from $15.00 to $13.00 while maintaining an "overweight" rating, suggesting a potential upside of 107.50% from the stock's previous close.
• Other analysts such as Wedbush and Chardan Capital have also reduced their price targets, indicating a conservative outlook on Solid Biosciences with targets ranging from $14.00 to $15.00.
• Solid Biosciences' stock price has decreased by 6.2% recently, with a current trading value of $6.27, reflecting volatility in the company's market performance.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) had its price target cut by research analysts at JPMorgan Chase & Co. from $15.00 to $13.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 107.50% from the stock's previous close.

SLDB has been the subject of a number of other research reports. Wedbush reduced their price target on Solid Biosciences from $17.00 to $14.00 and set an "outperform" rating for the company in a research report on Wednesday. Chardan Capital reduced their price target on Solid Biosciences from $16.00 to $15.00 and set a "buy" rating for the company in a research report on Monday, May 19th. Cantor Fitzgerald set a $16.00 price target on Solid Biosciences and gave the stock an "overweight" rating in a research report on Monday, July 21st. Piper Sandler reduced their price target on Solid Biosciences from $20.00 to $17.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Finally, JMP Securities reiterated a "market outperform" rating and set a $15.00 price target on shares of Solid Biosciences in a research report on Friday, June 6th. Ten equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Solid Biosciences presently has an average rating of "Buy" and an average target price of $15.00.

Solid Biosciences Trading Down 6.2%

SLDB traded down $0.42 during trading on Thursday, reaching $6.27. 396,579 shares of the company were exchanged, compared to its average volume of 1,942,981. Solid Biosciences has a 52 week low of $2.41 and a 52 week high of $10.37. The firm has a 50 day moving average of $5.55 and a 200 day moving average of $4.39. The stock has a market cap of $485.60 million, a P/E ratio of -2.24 and a beta of 2.44.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.51) by $0.09. As a group, analysts forecast that Solid Biosciences will post -2.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Solid Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of SLDB. Legal & General Group Plc lifted its stake in Solid Biosciences by 208.6% during the second 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. raised its holdings in shares of Solid Biosciences by 205.5% during the second quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company's stock valued at $33,000 after acquiring an additional 4,534 shares during the period. CWM LLC lifted its position in shares of Solid Biosciences by 15,188.5% in the 1st quarter. CWM LLC now owns 7,950 shares of the company's stock valued at $29,000 after acquiring an additional 7,898 shares in the last quarter. Corton Capital Inc. acquired a new position in Solid Biosciences in the 4th quarter worth approximately $41,000. Finally, Pallas Capital Advisors LLC purchased a new position in Solid Biosciences during the 2nd quarter worth approximately $54,000. Institutional investors and hedge funds own 81.46% of the company's stock.

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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