Solid Biosciences (NASDAQ:SLDB) Upgraded to Hold at Wall Street Zen

Solid Biosciences (NASDAQ:SLDB) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

A number of other equities research analysts also recently issued reports on the stock. Wedbush lowered their price target on shares of Solid Biosciences from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Wednesday. HC Wainwright reissued a “buy” rating and issued a $20.00 price target on shares of Solid Biosciences in a report on Tuesday, June 17th. Chardan Capital restated a “buy” rating and issued a $15.00 price objective on shares of Solid Biosciences in a research report on Thursday. Barclays decreased their price objective on shares of Solid Biosciences from $15.00 to $10.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. Finally, Piper Sandler decreased their price objective on shares of Solid Biosciences from $20.00 to $17.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $15.00.

Solid Biosciences Trading Down 1.0%

Shares of Solid Biosciences stock opened at $6.11 on Friday. Solid Biosciences has a 12-month low of $2.41 and a 12-month high of $10.37. The company has a market cap of $475.79 million, a price-to-earnings ratio of -2.18 and a beta of 2.44. The company’s 50-day moving average price is $5.62 and its 200-day moving average price is $4.43.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.09. On average, sell-side analysts predict that Solid Biosciences will post -2.84 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in Solid Biosciences by 9,393.8% during the fourth quarter. JPMorgan Chase & Co. now owns 955,932 shares of the company’s stock valued at $3,824,000 after acquiring an additional 945,863 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Solid Biosciences by 12.7% during the fourth quarter. Renaissance Technologies LLC now owns 82,493 shares of the company’s stock valued at $330,000 after purchasing an additional 9,281 shares during the period. Bank of America Corp DE boosted its stake in shares of Solid Biosciences by 87.9% during the fourth quarter. Bank of America Corp DE now owns 83,471 shares of the company’s stock valued at $334,000 after purchasing an additional 39,056 shares during the period. Allianz Asset Management GmbH purchased a new stake in shares of Solid Biosciences during the first quarter valued at approximately $100,000. Finally, Invesco Ltd. purchased a new stake in shares of Solid Biosciences during the fourth quarter valued at approximately $49,000. 81.46% of the stock is currently owned by institutional investors.

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.