Solid Biosciences (NASDAQ:SLDB) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

Solid Biosciences (NASDAQ:SLDB) had its price target upped by stock analysts at Cantor Fitzgerald from $16.00 to $26.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 167.49% from the stock’s previous close.

Several other research firms have also recently commented on SLDB. Wedbush decreased their target price on shares of Solid Biosciences from $17.00 to $16.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Wall Street Zen raised Solid Biosciences from a “strong sell” rating to a “sell” rating in a report on Saturday, July 4th. Truist Financial increased their price objective on Solid Biosciences from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, August 21st. Piper Sandler restated an “overweight” rating and issued a $18.00 target price (up from $17.00) on shares of Solid Biosciences in a research report on Wednesday, May 13th. Finally, HC Wainwright boosted their price target on Solid Biosciences from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Eleven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $18.18.

Solid Biosciences Stock Performance

SLDB stock opened at $9.72 on Thursday. Solid Biosciences has a 1 year low of $3.79 and a 1 year high of $11.45. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -5.09 and a beta of 2.41. The stock’s fifty day moving average is $9.15 and its two-hundred day moving average is $7.82.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.08. As a group, analysts predict that Solid Biosciences will post -1.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc lifted its position in Solid Biosciences by 208.6% in the second quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock worth $29,000 after purchasing an additional 4,063 shares during the period. Creative Planning bought a new position in Solid Biosciences during the 2nd quarter valued at $57,000. Russell Investments Group Ltd. increased its position in shares of Solid Biosciences by 142.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 10,211 shares of the company’s stock valued at $63,000 after purchasing an additional 5,991 shares during the period. Polymer Capital Management US LLC acquired a new position in shares of Solid Biosciences during the 3rd quarter valued at $94,000. Finally, Jain Global LLC bought a new stake in shares of Solid Biosciences in the 4th quarter worth $114,000. 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.