Solid Biosciences (NASDAQ:SLDB) Receives "Sell (D-)" Rating from Weiss Ratings

Solid Biosciences (NASDAQ:SLDB - Get Free Report)'s stock had its "sell (d-)" rating restated by investment analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

A number of other research analysts have also weighed in on SLDB. JPMorgan Chase & Co. decreased their price objective on Solid Biosciences from $15.00 to $13.00 and set an "overweight" rating on the stock in a report on Thursday, August 14th. Citigroup started coverage on Solid Biosciences in a report on Thursday, June 26th. They issued a "buy" rating and a $14.00 price objective on the stock. Wedbush decreased their price objective on Solid Biosciences from $17.00 to $14.00 and set an "outperform" rating on the stock in a report on Wednesday, August 13th. Chardan Capital restated a "buy" rating and issued a $15.00 price objective on shares of Solid Biosciences in a report on Thursday, August 14th. Finally, HC Wainwright restated a "buy" rating and issued a $20.00 price objective on shares of Solid Biosciences in a report on Tuesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $15.00.

Solid Biosciences Stock Performance

Solid Biosciences stock opened at $6.31 on Wednesday. The company's fifty day moving average price is $5.82 and its 200 day moving average price is $4.69. Solid Biosciences has a 1 year low of $2.41 and a 1 year high of $7.37. The stock has a market capitalization of $491.36 million, a P/E ratio of -2.25 and a beta of 2.53.

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 analysts' consensus estimates of ($0.51) by $0.09. Sell-side analysts predict that Solid Biosciences will post -2.84 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Legal & General Group Plc raised its holdings in shares of Solid Biosciences by 208.6% during the 2nd quarter. Legal & General Group Plc now owns 6,011 shares of the company's stock worth $29,000 after acquiring an additional 4,063 shares during the period. Ameritas Investment Partners Inc. increased its position in shares of Solid Biosciences by 205.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company's stock worth $33,000 after purchasing an additional 4,534 shares during the last quarter. American Century Companies Inc. increased its position in shares of Solid Biosciences by 10.6% during the 1st 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 last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Solid Biosciences by 8.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 68,607 shares of the company's stock worth $254,000 after purchasing an additional 5,220 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its position in shares of Solid Biosciences by 80.7% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 15,308 shares of the company's stock worth $57,000 after purchasing an additional 6,836 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.

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