Solid Biosciences (NASDAQ:SLDB) Coverage Initiated at Truist Financial

Research analysts at Truist Financial initiated coverage on shares of Solid Biosciences (NASDAQ:SLDB) in a note issued to investors on Friday, MarketBeat.com reports. The firm set a “buy” rating and a $20.00 price target on the stock. Truist Financial’s price objective would suggest a potential upside of 111.86% from the stock’s current price.

SLDB has been the subject of a number of other reports. Piper Sandler reaffirmed an “overweight” rating and set a $18.00 price target (up from $17.00) on shares of Solid Biosciences in a research note on Wednesday, May 13th. HC Wainwright raised their price objective on shares of Solid Biosciences from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Biosciences in a research note on Friday, July 17th. Wedbush dropped their target price on Solid Biosciences from $17.00 to $16.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Finally, Wall Street Zen raised Solid Biosciences from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 4th. Ten analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Solid Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $17.40.

Solid Biosciences Price Performance

Shares of NASDAQ SLDB traded up $0.34 during midday trading on Friday, reaching $9.44. 47,288 shares of the stock traded hands, compared to its average volume of 1,388,214. The company’s 50 day moving average is $8.97 and its 200 day moving average is $7.73. Solid Biosciences has a one year low of $3.79 and a one year high of $11.45. The stock has a market capitalization of $1.01 billion, a PE ratio of -4.94 and a beta of 2.41.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.08. As a group, equities analysts forecast that Solid Biosciences will post -1.72 EPS for the current year.

Hedge Funds Weigh In On Solid Biosciences

Large investors have recently bought and sold shares of the business. AQR Capital Management LLC purchased a new stake in Solid Biosciences during the first quarter worth $418,000. Goldman Sachs Group Inc. increased its holdings in shares of Solid Biosciences by 32.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 180,137 shares of the company’s stock valued at $667,000 after acquiring an additional 43,910 shares during the period. Woodline Partners LP purchased a new position in shares of Solid Biosciences in the 1st quarter valued at $2,338,000. Creative Planning bought a new position in shares of Solid Biosciences in the 2nd quarter worth $57,000. Finally, JPMorgan Chase & Co. raised its position in shares of Solid Biosciences by 111.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 34,379 shares of the company’s stock worth $167,000 after acquiring an additional 18,094 shares in the last quarter. Institutional investors own 81.46% of the company’s stock.

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.