Solid Biosciences Inc. (NASDAQ:SLDB) Receives Average Rating of “Buy” from Brokerages

Solid Biosciences Inc. (NASDAQ:SLDB) has earned a consensus rating of “Buy” from the thirteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Ten research analysts have rated the stock with a buy recommendation and three have issued a strong buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $14.90.

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Solid Biosciences from $12.00 to $11.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Piper Sandler lowered their price objective on shares of Solid Biosciences from $20.00 to $17.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Barclays dropped their price target on shares of Solid Biosciences from $15.00 to $10.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Chardan Capital dropped their price target on shares of Solid Biosciences from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, May 19th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $16.00 price target on shares of Solid Biosciences in a research note on Thursday, May 22nd.

Solid Biosciences Trading Down 3.0%

SLDB opened at $3.20 on Tuesday. The stock has a market capitalization of $248.05 million, a PE ratio of -1.05 and a beta of 2.32. Solid Biosciences has a 1-year low of $2.41 and a 1-year high of $10.37. The firm has a 50-day moving average price of $3.12 and a two-hundred day moving average price of $4.01.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings data on Thursday, May 15th. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.06). On average, research analysts predict that Solid Biosciences will post -2.84 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC lifted its position in shares of Solid Biosciences by 15,188.5% in the first quarter. CWM LLC now owns 7,950 shares of the company’s stock worth $29,000 after purchasing an additional 7,898 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in shares of Solid Biosciences in the fourth quarter worth $34,000. Corton Capital Inc. bought a new stake in shares of Solid Biosciences in the fourth quarter worth $41,000. Ground Swell Capital LLC bought a new stake in shares of Solid Biosciences in the first quarter worth $42,000. Finally, Invesco Ltd. bought a new stake in shares of Solid Biosciences in the fourth quarter worth $49,000. 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.