Solid Biosciences (NASDAQ:SLDB) Upgraded to Hold at Wall Street Zen

Key Points

• Solid Biosciences (NASDAQ:SLDB) was upgraded from a "sell" to a "hold" rating by Wall Street Zen in a recent report.
• Analysts have varied price targets for the stock, with a consensus target price of $15.00 and a majority rating it as "buy."
• The company's recent earnings report showed an EPS of ($0.42), exceeding the consensus estimate, as Solid Biosciences focuses on therapies for neuromuscular diseases.

Wall Street Zen upgraded shares of Solid Biosciences (NASDAQ:SLDB - Free Report) from a sell rating to a hold rating in a research report report published on Saturday morning.

SLDB has been the subject of several other reports. Piper Sandler dropped their price target on Solid Biosciences from $20.00 to $17.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Barclays dropped their price target on 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 restated a "buy" rating and set a $20.00 price target on shares of Solid Biosciences in a research note on Tuesday, June 17th. Citigroup assumed coverage on Solid Biosciences in a research note on Thursday, June 26th. They set a "buy" rating and a $14.00 price target for the company. Finally, Wedbush dropped their price target on Solid Biosciences from $17.00 to $14.00 and set an "outperform" rating for the company in a research note on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $15.00.

Solid Biosciences Stock Performance

Solid Biosciences stock traded down $0.14 during trading on Friday, hitting $5.66. The company's stock had a trading volume of 922,643 shares, compared to its average volume of 1,230,115. The stock has a market capitalization of $440.74 million, a price-to-earnings ratio of -2.02 and a beta of 2.44. The stock's fifty day moving average is $5.69 and its 200 day moving average is $4.48. Solid Biosciences has a 1-year low of $2.41 and a 1-year high of $10.37.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported ($0.42) EPS for the quarter, beating 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 fiscal year.

Institutional Investors Weigh In On Solid Biosciences

A number of large investors have recently modified their holdings of the stock. Bain Capital Life Sciences Investors LLC grew its stake in shares of Solid Biosciences by 96.1% in the first quarter. Bain Capital Life Sciences Investors LLC now owns 7,911,669 shares of the company's stock valued at $29,273,000 after buying an additional 3,877,087 shares in the last quarter. Siren L.L.C. grew its stake in shares of Solid Biosciences by 97.8% in the first quarter. Siren L.L.C. now owns 7,415,905 shares of the company's stock valued at $27,439,000 after buying an additional 3,666,864 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its stake in shares of Solid Biosciences by 285.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 6,729,484 shares of the company's stock valued at $24,899,000 after buying an additional 4,981,400 shares in the last quarter. Vestal Point Capital LP grew its stake in shares of Solid Biosciences by 1.8% in the fourth quarter. Vestal Point Capital LP now owns 2,850,000 shares of the company's stock valued at $11,400,000 after buying an additional 50,000 shares in the last quarter. Finally, Redmile Group LLC grew its stake in shares of Solid Biosciences by 228.2% in the first quarter. Redmile Group LLC now owns 2,019,171 shares of the company's stock valued at $7,471,000 after buying an additional 1,403,925 shares in the last quarter. Institutional investors and hedge funds 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.