Solid Biosciences Inc. (NASDAQ:SLDB) Receives $15.67 Consensus Target Price from Brokerages

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have earned a consensus rating of “Buy” from the twelve brokerages that are currently covering the stock, MarketBeat reports. Eight research analysts have rated the stock with a buy rating and four have given a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $15.67.

Several analysts recently weighed in on the stock. Wedbush started coverage on shares of Solid Biosciences in a report on Friday, December 13th. They issued an “outperform” rating and a $16.00 price target on the stock. JPMorgan Chase & Co. reduced their price target 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. HC Wainwright increased their price target on shares of Solid Biosciences from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Chardan Capital reaffirmed a “buy” rating and set a $16.00 price objective on shares of Solid Biosciences in a research report on Friday, March 7th. Finally, Truist Financial initiated coverage on Solid Biosciences in a research report on Wednesday, January 8th. They issued a “buy” rating and a $16.00 target price for the company.

Solid Biosciences Stock Performance

SLDB opened at $2.70 on Monday. The stock has a market capitalization of $209.23 million, a PE ratio of -0.89 and a beta of 2.07. The stock’s 50 day moving average price is $4.38 and its 200-day moving average price is $4.81. Solid Biosciences has a 52-week low of $2.48 and a 52-week high of $10.99.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLDB. The Manufacturers Life Insurance Company bought a new stake in Solid Biosciences in the third quarter worth $71,000. FMR LLC purchased a new position in shares of Solid Biosciences in the 3rd quarter worth about $305,000. MetLife Investment Management LLC boosted its stake in Solid Biosciences by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 13,699 shares of the company’s stock worth $95,000 after purchasing an additional 7,719 shares in the last quarter. Point72 Asset Management L.P. grew its position in Solid Biosciences by 292.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company’s stock valued at $3,088,000 after purchasing an additional 330,234 shares during the last quarter. Finally, State Street Corp increased its stake in Solid Biosciences by 9.2% during the 3rd quarter. State Street Corp now owns 441,540 shares of the company’s stock valued at $3,078,000 after purchasing an additional 37,130 shares in the last quarter. 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.