Wedbush Has Lowered Expectations for Solid Biosciences (NASDAQ:SLDB) Stock Price

Solid Biosciences (NASDAQ:SLDB) had its price objective decreased by Wedbush from $18.00 to $17.00 in a research note published on Friday,Benzinga reports. Wedbush currently has an outperform rating on the stock.

A number of other analysts also recently weighed in on SLDB. HC Wainwright increased their target price on shares of Solid Biosciences from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Cantor Fitzgerald raised shares of Solid Biosciences to a “strong-buy” rating in a research report on Tuesday, May 13th. Chardan Capital reissued a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. decreased their target price 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. Nine equities research analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $14.89.

Solid Biosciences Price Performance

Shares of NASDAQ SLDB opened at $2.77 on Friday. The company has a 50 day simple moving average of $3.52 and a 200 day simple moving average of $4.20. The firm has a market cap of $214.68 million, a PE ratio of -0.91 and a beta of 2.32. Solid Biosciences has a 1 year low of $2.41 and a 1 year high of $10.37.

Solid Biosciences (NASDAQ:SLDB) last issued its quarterly earnings data on Thursday, May 15th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.06). As a group, research analysts anticipate that Solid Biosciences will post -2.84 earnings per share for the current fiscal year.

Institutional Trading of Solid Biosciences

Large investors have recently modified their holdings of the stock. CWM LLC boosted its position in shares of Solid Biosciences by 15,188.5% during the first quarter. CWM LLC now owns 7,950 shares of the company’s stock valued at $29,000 after buying an additional 7,898 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in shares of Solid Biosciences during the fourth quarter valued at approximately $34,000. Corton Capital Inc. purchased a new position in shares of Solid Biosciences during the fourth quarter valued at approximately $41,000. Ground Swell Capital LLC purchased a new position in shares of Solid Biosciences during the first quarter valued at approximately $42,000. Finally, Invesco Ltd. purchased a new position in shares of Solid Biosciences during the fourth quarter valued at approximately $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.