Solid Biosciences (NASDAQ:SLDB) Upgraded at UBS Group

UBS Group upgraded shares of Solid Biosciences (NASDAQ:SLDB) to a strong-buy rating in a report published on Wednesday,Zacks reports.

A number of other equities analysts also recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target on shares of Solid Biosciences in a research note on Monday, September 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Biosciences in a research note on Thursday. Royal Bank Of Canada initiated coverage on Solid Biosciences in a report on Wednesday, September 16th. They set an “outperform” rating and a $18.00 price objective for the company. Wall Street Zen raised Solid Biosciences from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 4th. Finally, Loop Capital set a $25.00 target price on Solid Biosciences in a report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.79.

Solid Biosciences Trading Down 3.7%

Shares of NASDAQ SLDB traded down $0.21 on Wednesday, reaching $5.53. 1,401,828 shares of the company traded hands, compared to its average volume of 1,547,287. The stock has a market capitalization of $592.93 million, a PE ratio of -2.90 and a beta of 2.47. Solid Biosciences has a fifty-two week low of $3.79 and a fifty-two week high of $11.45. The company has a 50 day moving average of $8.42 and a 200 day moving average of $8.18.

Solid Biosciences (NASDAQ:SLDB) last released its earnings results on Thursday, August 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.46) by $0.08. As a group, research analysts expect that Solid Biosciences will post -1.66 earnings per share for the current year.

Institutional Trading of Solid Biosciences

Institutional investors have recently added to or reduced their stakes in the business. Perceptive Advisors LLC increased its holdings in Solid Biosciences by 0.6% in the 1st quarter. Perceptive Advisors LLC now owns 11,906,646 shares of the company’s stock valued at $85,728,000 after purchasing an additional 73,107 shares in the last quarter. Janus Henderson Group PLC purchased a new position in Solid Biosciences in the first quarter valued at about $28,877,000. Redmile Group LLC raised its position in Solid Biosciences by 8.1% in the first quarter. Redmile Group LLC now owns 2,011,895 shares of the company’s stock valued at $14,486,000 after purchasing an additional 151,353 shares during the period. Monashee Investment Management LLC lifted its stake in shares of Solid Biosciences by 5.2% during the first quarter. Monashee Investment Management LLC now owns 1,420,295 shares of the company’s stock worth $10,226,000 after purchasing an additional 70,524 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Solid Biosciences by 40.8% during the first quarter. Dimensional Fund Advisors LP now owns 956,135 shares of the company’s stock worth $6,877,000 after purchasing an additional 277,051 shares in the last quarter. 81.46% of the stock is owned by hedge funds and other institutional investors.

About Solid Biosciences

Solid Biosciences Inc is a biotechnology company focused on developing genetic medicines for patients with rare diseases. The company’s research platform is centered on adeno-associated virus (AAV) gene therapy and other genetic medicine technologies intended to address the underlying causes of disease.

Solid Biosciences’ lead program is SGT-003, an investigational gene therapy being developed for Duchenne muscular dystrophy, a severe inherited neuromuscular disorder. The company is also developing additional programs for rare cardiac and neuromuscular conditions, including SGT-501 for BAG3-associated dilated cardiomyopathy.