Solid Biosciences (NASDAQ:SLDB) Stock Rating Lowered by Wall Street Zen

Key Points

• Solid Biosciences was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating, indicating a negative outlook on the stock.
• Analysts have varied opinions on the stock, with price targets ranging from $13.00 to $17.00 and an overall average price target of $15.00.
• Despite the recent downgrade, Solid Biosciences' stock has shown resilience, currently up 1.5%, and analysts forecast a -2.84 EPS for the year.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

Several other research analysts have also commented on the stock. Wedbush dropped their price target on shares of Solid Biosciences from $17.00 to $14.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 13th. Cantor Fitzgerald set a $16.00 price target on shares of Solid Biosciences and gave the stock an "overweight" rating in a research note on Monday, July 21st. Citigroup began coverage on shares of Solid Biosciences in a research note on Thursday, June 26th. They set a "buy" rating and a $14.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on shares of Solid Biosciences from $15.00 to $13.00 and set an "overweight" rating on the stock in a research note on Thursday, August 14th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $15.00 target price on shares of Solid Biosciences in a research note on Friday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating and ten have issued a Buy rating to the company. According to data from MarketBeat, Solid Biosciences has an average rating of "Buy" and an average price target of $15.00.

Solid Biosciences Stock Up 1.5%

SLDB stock opened at $5.39 on Friday. Solid Biosciences has a 12-month low of $2.41 and a 12-month high of $8.14. The company has a market cap of $419.72 million, a price-to-earnings ratio of -1.93 and a beta of 2.54. The company has a 50 day moving average of $5.95 and a two-hundred day moving average of $4.63.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.51) by $0.09. On average, research analysts anticipate that Solid Biosciences will post -2.84 EPS for the current year.

Institutional Trading of Solid Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc grew its position in Solid Biosciences by 208.6% in the 2nd quarter. Legal & General Group Plc now owns 6,011 shares of the company's stock worth $29,000 after purchasing an additional 4,063 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in Solid Biosciences by 205.5% in 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. Wellington Management Group LLP grew its position in Solid Biosciences by 4.0% in the 4th quarter. Wellington Management Group LLP now owns 124,551 shares of the company's stock worth $498,000 after purchasing an additional 4,747 shares during the last quarter. American Century Companies Inc. grew its position in Solid Biosciences by 10.6% in 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. Finally, Charles Schwab Investment Management Inc. grew its position in Solid Biosciences by 8.2% in 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. 81.46% of the stock is currently owned by institutional investors and hedge funds.

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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