Solid Biosciences’ (SLDB) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Solid Biosciences (NASDAQ:SLDB) in a research note released on Thursday,Benzinga reports. They currently have a $16.00 price target on the stock.

A number of other research analysts also recently issued reports on the company. HC Wainwright raised their price target on Solid Biosciences from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. JPMorgan Chase & Co. lowered their target price on shares of Solid Biosciences from $12.00 to $11.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Chardan Capital cut their target price on shares of Solid Biosciences from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Monday. Piper Sandler decreased their price target on shares of Solid Biosciences from $20.00 to $17.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Finally, Barclays lowered 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. Ten equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Solid Biosciences has a consensus rating of “Buy” and an average price target of $14.90.

Solid Biosciences Trading Up 7.0%

Shares of Solid Biosciences stock opened at $2.89 on Thursday. The company has a fifty day simple moving average of $3.32 and a 200-day simple moving average of $4.14. Solid Biosciences has a 12-month low of $2.41 and a 12-month high of $10.37. The stock has a market cap of $224.02 million, a price-to-earnings ratio of -0.95 and a beta of 2.32.

Solid Biosciences (NASDAQ:SLDB) last issued its quarterly earnings data on Thursday, May 15th. The company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.53) by ($0.06). On average, analysts forecast that Solid Biosciences will post -2.84 earnings per share for the current fiscal year.

Institutional Trading of Solid Biosciences

Several hedge funds have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. purchased a new position in Solid Biosciences during the fourth quarter worth about $34,000. Rhumbline Advisers increased its position in Solid Biosciences by 10.5% during the 4th quarter. Rhumbline Advisers now owns 43,677 shares of the company’s stock worth $175,000 after purchasing an additional 4,161 shares during the period. Quantum Private Wealth LLC raised its stake in shares of Solid Biosciences by 81.8% during the 4th quarter. Quantum Private Wealth LLC now owns 57,333 shares of the company’s stock worth $229,000 after buying an additional 25,800 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Solid Biosciences by 12.3% during the 4th quarter. American Century Companies Inc. now owns 46,857 shares of the company’s stock worth $187,000 after buying an additional 5,126 shares in the last quarter. Finally, Sei Investments Co. acquired a new stake in shares of Solid Biosciences in the 4th quarter valued at approximately $52,000. Institutional investors and hedge funds own 81.46% of the company’s stock.

About Solid Biosciences

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.