Solid Biosciences (NASDAQ:SLDB) Coverage Initiated by Analysts at Citigroup

Citigroup started coverage on shares of Solid Biosciences (NASDAQ:SLDB - Free Report) in a research report report published on Thursday, MarketBeat reports. The brokerage issued a buy rating and a $14.00 price objective on the stock.

SLDB has been the topic of a number of other research reports. HC Wainwright reissued a "buy" rating and issued 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 target price on shares of Solid Biosciences in a research note on Thursday, May 22nd. Piper Sandler lowered their target price on shares of Solid Biosciences from $20.00 to $17.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Barclays decreased their price objective on shares of Solid Biosciences from $15.00 to $10.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Finally, Chardan Capital decreased their price objective on shares of Solid Biosciences from $16.00 to $15.00 and set a "buy" rating on the stock in a research note on Monday, May 19th. Ten analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $15.10.

Solid Biosciences Trading Up 3.2%

NASDAQ SLDB traded up $0.15 on Thursday, reaching $4.87. The company's stock had a trading volume of 1,209,169 shares, compared to its average volume of 1,186,323. The firm has a market cap of $377.47 million, a PE ratio of -1.63 and a beta of 2.22. The business has a 50-day moving average price of $3.72 and a 200 day moving average price of $3.90. Solid Biosciences has a 52 week low of $2.41 and a 52 week high of $10.37.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last posted 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). Analysts anticipate that Solid Biosciences will post -2.84 earnings per share for the current fiscal year.

Institutional Trading of Solid Biosciences

Several hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN grew its stake in shares of Solid Biosciences by 29.4% during the fourth quarter. Wells Fargo & Company MN now owns 13,138 shares of the company's stock valued at $53,000 after purchasing an additional 2,986 shares during the last quarter. Rhumbline Advisers lifted its holdings in Solid Biosciences by 10.5% in the fourth quarter. Rhumbline Advisers now owns 43,677 shares of the company's stock valued at $175,000 after buying an additional 4,161 shares during the period. Wellington Management Group LLP lifted 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 valued at $498,000 after buying an additional 4,747 shares during the period. Geode Capital Management LLC lifted its holdings in Solid Biosciences by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 509,802 shares of the company's stock valued at $2,040,000 after buying an additional 4,932 shares during the period. Finally, American Century Companies Inc. raised its holdings in Solid Biosciences by 10.6% in the first quarter. American Century Companies Inc. now owns 51,835 shares of the company's stock worth $192,000 after purchasing an additional 4,978 shares during the period. 81.46% of the stock is owned by institutional investors.

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.