HC Wainwright Reaffirms Buy Rating for Solid Biosciences (NASDAQ:SLDB)

Solid Biosciences (NASDAQ:SLDB - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They presently have a $20.00 price objective on the stock. HC Wainwright's price target would suggest a potential upside of 317.54% from the stock's current price.

Several other equities analysts also recently issued reports on SLDB. Piper Sandler decreased their price objective on shares of Solid Biosciences from $20.00 to $17.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. JMP Securities restated a "market outperform" rating and set a $15.00 price target on shares of Solid Biosciences in a research report on Friday, June 6th. Wedbush decreased 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. Cantor Fitzgerald reiterated an "overweight" rating and issued a $16.00 price objective on shares of Solid Biosciences in a report on Thursday, May 22nd. Finally, Barclays reduced their target price on Solid Biosciences from $15.00 to $10.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Ten equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $14.90.

Solid Biosciences Stock Performance

Shares of Solid Biosciences stock traded up $0.14 on Tuesday, hitting $4.79. The company's stock had a trading volume of 3,570,342 shares, compared to its average volume of 1,173,492. The company has a market capitalization of $371.27 million, a price-to-earnings ratio of -1.60 and a beta of 2.22. Solid Biosciences has a 1 year low of $2.41 and a 1 year high of $10.37. The firm has a fifty day moving average price of $3.42 and a 200-day moving average price of $3.92.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last issued its quarterly earnings data 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, analysts forecast that Solid Biosciences will post -2.84 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Bain Capital Life Sciences Investors LLC grew its position in shares of 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 valued at $29,273,000 after purchasing an additional 3,877,087 shares in the last quarter. Siren L.L.C. lifted its position in 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 buying an additional 3,666,864 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in Solid Biosciences by 285.0% during the first quarter. Adage Capital Partners GP L.L.C. now owns 6,729,484 shares of the company's stock worth $24,899,000 after buying an additional 4,981,400 shares during the last quarter. Vestal Point Capital LP grew its holdings in Solid Biosciences by 1.8% in the 4th quarter. Vestal Point Capital LP now owns 2,850,000 shares of the company's stock valued at $11,400,000 after buying an additional 50,000 shares in the last quarter. Finally, Redmile Group LLC increased its stake 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 worth $7,471,000 after acquiring an additional 1,403,925 shares during the last quarter. 81.46% of the stock is owned by hedge funds and other institutional investors.

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.