Solid Biosciences (NASDAQ:SLDB) Stock Rating Lowered by Wall Street Zen

Solid Biosciences (NASDAQ:SLDB) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other research firms have also commented on SLDB. JPMorgan Chase & Co. reduced their price target on shares of Solid Biosciences from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Thursday, August 14th. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 target price on shares of Solid Biosciences in a research note on Tuesday, June 17th. JMP Securities reaffirmed a “market outperform” rating and issued a $15.00 target price on shares of Solid Biosciences in a research note on Friday, June 6th. Barclays dropped their target price 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. Finally, Cantor Fitzgerald set a $16.00 target price on shares of Solid Biosciences and gave the stock an “overweight” rating in a research note on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating and ten have given a Buy rating to the company. According to data from MarketBeat, Solid Biosciences has a consensus rating of “Buy” and an average target price of $15.00.

Solid Biosciences Stock Performance

NASDAQ:SLDB opened at $5.39 on Friday. The company has a 50-day moving average of $5.95 and a 200-day moving average of $4.63. The company has a market capitalization of $419.72 million, a price-to-earnings ratio of -1.93 and a beta of 2.54. Solid Biosciences has a 52 week low of $2.41 and a 52 week high of $8.14.

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, beating the consensus estimate of ($0.51) by $0.09. Sell-side analysts forecast that Solid Biosciences will post -2.84 EPS for the current year.

Institutional Investors Weigh In On Solid Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc raised its stake in shares of Solid Biosciences by 208.6% during the second quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock worth $29,000 after buying an additional 4,063 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in Solid Biosciences by 205.5% during the second quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company’s stock valued at $33,000 after purchasing an additional 4,534 shares during the period. Wellington Management Group LLP grew its holdings in Solid Biosciences by 4.0% during the fourth quarter. Wellington Management Group LLP now owns 124,551 shares of the company’s stock valued at $498,000 after purchasing an additional 4,747 shares during the period. American Century Companies Inc. grew its holdings in Solid Biosciences by 10.6% during the first quarter. American Century Companies Inc. now owns 51,835 shares of the company’s stock valued at $192,000 after purchasing an additional 4,978 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Solid Biosciences by 8.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 68,607 shares of the company’s stock valued at $254,000 after purchasing an additional 5,220 shares during the period. 81.46% of the stock is 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.