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

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. JMP Securities reiterated a "market outperform" rating and issued a $15.00 target price on shares of Solid Biosciences in a research report on Friday, June 6th. Barclays lowered their price objective on shares of Solid Biosciences from $15.00 to $10.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. HC Wainwright reaffirmed a "buy" rating and set a $20.00 price objective on shares of Solid Biosciences in a report on Tuesday, June 17th. Wedbush lowered their target price on Solid Biosciences from $18.00 to $17.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Finally, Chardan Capital cut their target price on Solid Biosciences from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Monday, May 19th. Ten research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Solid Biosciences has an average rating of "Buy" and a consensus price target of $15.10.

Solid Biosciences Stock Down 2.2%

The stock has a market cap of $482.92 million, a P/E ratio of -2.08 and a beta of 2.34. The business has a 50-day simple moving average of $4.26 and a 200-day simple moving average of $4.01.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.53) by ($0.06). On average, analysts predict that Solid Biosciences Inc. will post -2.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Solid Biosciences

Several institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC boosted its stake in shares of Solid Biosciences by 15,188.5% in the 1st quarter. CWM LLC now owns 7,950 shares of the company's stock valued at $29,000 after purchasing an additional 7,898 shares in the last quarter. Corton Capital Inc. acquired a new position in shares of Solid Biosciences in the 4th quarter valued at about $41,000. Ground Swell Capital LLC acquired a new position in Solid Biosciences during the 1st quarter worth $42,000. Invesco Ltd. bought a new stake in Solid Biosciences during the 4th quarter valued at approximately $49,000. Finally, Sei Investments Co. bought a new position in Solid Biosciences during the fourth quarter worth about $52,000. 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.