Solid Biosciences Inc. (NASDAQ:SLDB) Receives Consensus Rating of “Moderate Buy” from Analysts

Solid Biosciences Inc. (NASDAQ:SLDB) has been given an average rating of “Moderate Buy” by the thirteen analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and twelve have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $18.6923.

SLDB has been the subject of several recent research reports. HC Wainwright restated a “buy” rating and set a $25.00 target price on shares of Solid Biosciences in a research report on Monday, September 14th. Truist Financial lifted their price target on shares of Solid Biosciences from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, August 21st. Royal Bank Of Canada started coverage on Solid Biosciences in a research report on Wednesday. They set an “outperform” rating and a $18.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Biosciences in a report on Friday, July 17th. Finally, Wall Street Zen raised shares of Solid Biosciences from a “strong sell” rating to a “sell” rating in a report on Saturday, July 4th.

Solid Biosciences Price Performance

NASDAQ SLDB opened at $8.91 on Monday. The stock has a market capitalization of $955.33 million, a price-to-earnings ratio of -4.66 and a beta of 2.44. Solid Biosciences has a 1-year low of $3.79 and a 1-year high of $11.45. The business’s fifty day moving average price is $9.03 and its 200-day moving average price is $8.21.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.08. Equities research analysts anticipate that Solid Biosciences will post -1.67 EPS for the current year.

Institutional Trading of Solid Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of SLDB. Perceptive Advisors LLC lifted its stake in shares of Solid Biosciences by 0.6% during the 1st quarter. Perceptive Advisors LLC now owns 11,906,646 shares of the company’s stock valued at $85,728,000 after buying an additional 73,107 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of Solid Biosciences in the first quarter worth about $28,877,000. Armistice Capital LLC grew its position in shares of Solid Biosciences by 179.1% during the fourth quarter. Armistice Capital LLC now owns 2,612,000 shares of the company’s stock worth $14,732,000 after purchasing an additional 1,676,000 shares in the last quarter. Redmile Group LLC grew its position in shares of Solid Biosciences by 8.1% during the first quarter. Redmile Group LLC now owns 2,011,895 shares of the company’s stock worth $14,486,000 after purchasing an additional 151,353 shares in the last quarter. Finally, Monashee Investment Management LLC raised its stake in Solid Biosciences by 5.2% during the 1st quarter. Monashee Investment Management LLC now owns 1,420,295 shares of the company’s stock valued at $10,226,000 after purchasing an additional 70,524 shares during the period. 81.46% of the stock is owned by hedge funds and other institutional investors.

Solid Biosciences Company Profile

Solid Biosciences Inc (NASDAQ:SLDB) is a biotechnology company developing genetic medicines for neuromuscular and cardiac diseases. The company combines gene therapy, genetic medicine and manufacturing technologies to design treatments intended to address the underlying causes of serious inherited disorders.

Solid’s lead program is SGT-003, an investigational gene therapy being developed for Duchenne muscular dystrophy, a progressive genetic disease that causes muscle degeneration. The company is also advancing SGT-501, an investigational gene therapy for BAG3-associated dilated cardiomyopathy, a rare inherited heart condition.