Solid Biosciences (NASDAQ:SLDB) Price Target Raised to $20.00

Solid Biosciences (NASDAQ:SLDB) had its price objective boosted by Truist Financial from $16.00 to $20.00 in a research note released on Friday morning, Marketbeat.com reports. Truist Financial currently has a buy rating on the stock.

Other analysts have also issued research reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Biosciences in a report on Friday, July 17th. Wall Street Zen upgraded Solid Biosciences from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 4th. Wedbush cut their price objective on Solid Biosciences from $17.00 to $16.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. HC Wainwright increased their target price on shares of Solid Biosciences from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. Finally, Piper Sandler restated an “overweight” rating and set a $18.00 target price (up from $17.00) on shares of Solid Biosciences in a research note on Wednesday, May 13th. Ten research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.40.

Solid Biosciences Price Performance

Shares of SLDB stock opened at $9.30 on Friday. Solid Biosciences has a 1 year low of $3.79 and a 1 year high of $11.45. The firm has a fifty day moving average price of $9.01 and a 200-day moving average price of $7.75. The company has a market cap of $997.19 million, a price-to-earnings ratio of -4.87 and a beta of 2.41.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.08. Equities research analysts expect that Solid Biosciences will post -1.72 EPS for the current year.

Institutional Trading of Solid Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of SLDB. AXQ Capital LP bought a new position in Solid Biosciences during the second quarter valued at approximately $197,000. Wellington Management Group LLP increased its stake in Solid Biosciences by 14.9% in the 2nd quarter. Wellington Management Group LLP now owns 185,365 shares of the company’s stock worth $1,852,000 after acquiring an additional 24,087 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Solid Biosciences in the 2nd quarter worth approximately $2,429,000. Perceptive Advisors LLC increased its stake in Solid Biosciences by 0.6% in the 1st quarter. Perceptive Advisors LLC now owns 11,906,646 shares of the company’s stock worth $85,728,000 after acquiring an additional 73,107 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Solid Biosciences by 12.3% during the 1st quarter. Bank of America Corp DE now owns 386,793 shares of the company’s stock worth $2,785,000 after acquiring an additional 42,499 shares in the last quarter. 81.46% of the stock is currently owned by institutional investors.

Solid Biosciences Company Profile

Solid Biosciences Inc is a clinical‐stage biotechnology company focused on the development of therapies for Duchenne muscular dystrophy (DMD), a rare genetic disorder characterized by progressive muscle degeneration. The company’s primary approach centers on gene replacement and gene editing technologies designed to restore functional dystrophin protein in patients lacking this critical muscle‐stabilizing protein.

Solid’s lead investigational therapy, SGT‐001, is a micro‐dystrophin gene therapy candidate engineered to deliver a shortened but functional form of the dystrophin gene using an adeno‐associated virus (AAV) vector.