Solid Biosciences (NASDAQ:SLDB) Given Market Outperform Rating at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Solid Biosciences (NASDAQ:SLDB - Free Report) in a research report released on Friday,Benzinga reports. The firm currently has a $15.00 price objective on the stock.

Other equities analysts have also recently issued reports about the company. Cantor Fitzgerald reiterated an "overweight" rating and issued a $16.00 price target on shares of Solid Biosciences in a research report on Thursday, May 22nd. Chardan Capital cut their price objective on Solid Biosciences from $16.00 to $15.00 and set a "buy" rating for the company in a report on Monday, May 19th. Wedbush lowered their target price on Solid Biosciences from $18.00 to $17.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Barclays lowered their price target on Solid Biosciences from $15.00 to $10.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Finally, Piper Sandler reduced their target price on Solid Biosciences from $20.00 to $17.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Ten investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Solid Biosciences currently has a consensus rating of "Buy" and an average price target of $14.90.

Solid Biosciences Stock Performance

Shares of SLDB stock traded up $0.29 on Friday, hitting $4.54. The company had a trading volume of 1,607,044 shares, compared to its average volume of 1,121,046. Solid Biosciences has a twelve month low of $2.41 and a twelve month high of $10.37. The stock's 50-day moving average is $3.12 and its two-hundred day moving average is $3.98. The firm has a market cap of $351.92 million, a P/E ratio of -1.49 and a beta of 2.32.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Woodline Partners LP purchased a new stake in shares of Solid Biosciences in the 1st quarter valued at approximately $2,338,000. Goldman Sachs Group Inc. boosted its position in Solid Biosciences by 32.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 180,137 shares of the company's stock valued at $667,000 after buying an additional 43,910 shares during the period. EcoR1 Capital LLC purchased a new stake in shares of Solid Biosciences during the 1st quarter worth $2,754,000. Bain Capital Life Sciences Investors LLC lifted its position in shares of Solid Biosciences by 96.1% during the 1st quarter. Bain Capital Life Sciences Investors LLC now owns 7,911,669 shares of the company's stock worth $29,273,000 after purchasing an additional 3,877,087 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new stake in shares of Solid Biosciences during the 1st quarter worth $418,000. 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.