Cantor Fitzgerald Upgrades Solid Biosciences (NASDAQ:SLDB) to Strong-Buy

Solid Biosciences (NASDAQ:SLDB - Get Free Report) was upgraded by research analysts at Cantor Fitzgerald to a "strong-buy" rating in a research note issued to investors on Tuesday, May 13th,Zacks.com reports. Cantor Fitzgerald also issued estimates for Solid Biosciences' FY2025 earnings at ($1.60) EPS.

Several other analysts have also commented on the stock. HC Wainwright raised their price objective on shares of Solid Biosciences from $16.00 to $20.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Chardan Capital reissued a "buy" rating and set a $16.00 price objective on shares of Solid Biosciences in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Solid Biosciences from $12.00 to $11.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Nine investment analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $14.78.

Solid Biosciences Price Performance

NASDAQ SLDB traded down $0.09 during trading on Tuesday, reaching $2.82. The company's stock had a trading volume of 704,302 shares, compared to its average volume of 1,050,197. The firm has a fifty day moving average of $3.46 and a 200 day moving average of $4.18. Solid Biosciences has a one year low of $2.41 and a one year high of $10.37. The stock has a market capitalization of $218.17 million, a PE ratio of -0.93 and a beta of 2.32.

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

Institutional Trading of Solid Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of SLDB. JPMorgan Chase & Co. lifted its stake in shares of Solid Biosciences by 9,393.8% in the fourth quarter. JPMorgan Chase & Co. now owns 955,932 shares of the company's stock worth $3,824,000 after buying an additional 945,863 shares in the last quarter. Renaissance Technologies LLC lifted its position in Solid Biosciences by 12.7% in the 4th quarter. Renaissance Technologies LLC now owns 82,493 shares of the company's stock valued at $330,000 after acquiring an additional 9,281 shares in the last quarter. Wellington Management Group LLP lifted 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 valued at $498,000 after acquiring an additional 4,747 shares in the last quarter. Rhumbline Advisers boosted its stake in Solid Biosciences by 10.5% during the 4th quarter. Rhumbline Advisers now owns 43,677 shares of the company's stock valued at $175,000 after purchasing an additional 4,161 shares during the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of Solid Biosciences by 71.3% in the 4th quarter. Prudential Financial Inc. now owns 109,105 shares of the company's stock worth $436,000 after purchasing an additional 45,400 shares in the last quarter. 81.46% of the stock is currently owned by institutional investors.

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.