Solid Biosciences (NASDAQ:SLDB) Trading 13.3% Higher - Should You Buy?

Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) shares traded up 13.3% on Friday . The stock traded as high as $6.65 and last traded at $6.56. 1,423,434 shares traded hands during trading, an increase of 17% from the average session volume of 1,217,015 shares. The stock had previously closed at $5.79.

Analyst Upgrades and Downgrades

SLDB has been the topic of several recent analyst reports. JMP Securities restated a "market outperform" rating and issued a $15.00 target price on shares of Solid Biosciences in a report on Friday, June 6th. Citigroup began coverage on Solid Biosciences in a research report on Thursday, June 26th. They issued a "buy" rating and a $14.00 price objective for the company. Wedbush cut their target price on Solid Biosciences from $18.00 to $17.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. HC Wainwright reiterated a "buy" rating and issued a $20.00 target price on shares of Solid Biosciences in a report on Tuesday, June 17th. Finally, Barclays dropped their price target on Solid Biosciences from $15.00 to $10.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Ten research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $15.10.

Solid Biosciences Price Performance

The company has a fifty day moving average price of $4.19 and a 200 day moving average price of $3.99. The stock has a market cap of $495.29 million, a P/E ratio of -2.14 and a beta of 2.34.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.06). As a group, sell-side analysts expect that Solid Biosciences Inc. will post -2.84 earnings per share for the current fiscal year.

Institutional Trading of Solid Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN raised its holdings in shares of Solid Biosciences by 29.4% in 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. Wellington Management Group LLP increased its stake in Solid Biosciences by 4.0% in the 4th 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 last quarter. Geode Capital Management LLC lifted its position in shares of Solid Biosciences by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 509,802 shares of the company's stock worth $2,040,000 after buying an additional 4,932 shares in the last quarter. American Century Companies Inc. lifted 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 buying an additional 4,978 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of 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 buying an additional 5,220 shares during the last quarter. 81.46% of the stock is owned by 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.

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