Solid Biosciences (NASDAQ:SLDB) Stock Price Down 3.4% - Should You Sell?

Key Points

• Solid Biosciences Inc. (NASDAQ:SLDB) shares fell by 3.4% to $6.60, with trading volume significantly down at 156,127 shares, compared to an average session volume of 1,983,985 shares.
• Research firms have mixed ratings for Solid Biosciences, with ten analysts rating the stock as a "buy", while price targets range from $10.00 to $20.00.
• The company reported an EPS of ($0.59), missing the consensus estimate, with analysts predicting a continue loss of $2.84 for the year.

Shares of Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) fell 3.4% during mid-day trading on Monday . The company traded as low as $6.58 and last traded at $6.60. 156,127 shares were traded during mid-day trading, a decline of 92% from the average session volume of 1,983,985 shares. The stock had previously closed at $6.83.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SLDB shares. Chardan Capital reduced their target price 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. HC Wainwright restated a "buy" rating and issued a $20.00 price objective on shares of Solid Biosciences in a research report on Tuesday, June 17th. Cantor Fitzgerald set a $16.00 target price on shares of Solid Biosciences and gave the company an "overweight" rating in a research note on Monday, July 21st. JMP Securities reissued a "market outperform" rating and issued a $15.00 price target on shares of Solid Biosciences in a research note on Friday, June 6th. Finally, Citigroup assumed coverage on shares of Solid Biosciences in a report on Thursday, June 26th. They issued a "buy" rating and a $14.00 price target on the stock. Ten research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $15.10.

Solid Biosciences Stock Performance

The business's 50-day moving average is $5.33 and its 200 day moving average is $4.30. The company has a market cap of $492.11 million, a PE ratio of -2.12 and a beta of 2.44.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last released 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). Equities research analysts anticipate that Solid Biosciences Inc. will post -2.84 EPS for the current fiscal year.

Institutional Trading of Solid Biosciences

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings in Solid Biosciences by 9,393.8% during the 4th quarter. JPMorgan Chase & Co. now owns 955,932 shares of the company's stock valued at $3,824,000 after purchasing an additional 945,863 shares during the period. Renaissance Technologies LLC increased its stake in shares of Solid Biosciences by 12.7% during the fourth quarter. Renaissance Technologies LLC now owns 82,493 shares of the company's stock valued at $330,000 after buying an additional 9,281 shares during the period. Wellington Management Group LLP raised its holdings in shares of Solid Biosciences by 4.0% during the fourth quarter. Wellington Management Group LLP now owns 124,551 shares of the company's stock valued at $498,000 after acquiring an additional 4,747 shares in the last quarter. Prudential Financial Inc. raised its holdings in shares of Solid Biosciences by 71.3% during the fourth quarter. Prudential Financial Inc. now owns 109,105 shares of the company's stock valued at $436,000 after acquiring an additional 45,400 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in Solid Biosciences by 87.9% in the fourth quarter. Bank of America Corp DE now owns 83,471 shares of the company's stock worth $334,000 after acquiring an additional 39,056 shares during the period. Hedge funds and other institutional investors 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.