Solid Biosciences (NASDAQ:SLDB) Upgraded to Moderate Buy at Royal Bank Of Canada

Solid Biosciences (NASDAQ:SLDB) was upgraded by Royal Bank Of Canada to a “moderate buy” rating in a report released on Wednesday, Zacks reports.

Other analysts have also issued reports about the company. Cantor Fitzgerald boosted their price target on Solid Biosciences from $16.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday, August 27th. HC Wainwright reissued a “buy” rating and issued a $25.00 target price on shares of Solid Biosciences in a research report on Monday. Wall Street Zen raised shares of Solid Biosciences from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 4th. Truist Financial boosted their price objective on shares of Solid Biosciences from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, August 21st. Finally, Loop Capital set a $25.00 target price on shares of Solid Biosciences in a research report on Monday. Twelve analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Solid Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.69.

Solid Biosciences Stock Up 4.2%

Shares of SLDB stock opened at $8.72 on Wednesday. Solid Biosciences has a 12-month low of $3.79 and a 12-month high of $11.45. The firm has a fifty day moving average of $9.11 and a 200-day moving average of $8.17. The company has a market capitalization of $934.96 million, a price-to-earnings ratio of -4.57 and a beta of 2.44.

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

Institutional Investors Weigh In On Solid Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the stock. AXQ Capital LP acquired a new stake in shares of Solid Biosciences in the 2nd quarter valued at approximately $197,000. Hsbc Holdings PLC increased its holdings in Solid Biosciences by 78.4% during the first quarter. Hsbc Holdings PLC now owns 39,511 shares of the company’s stock worth $284,000 after buying an additional 17,360 shares during the last quarter. Engineers Gate Manager LP raised its position in Solid Biosciences by 34.5% during the second quarter. Engineers Gate Manager LP now owns 28,915 shares of the company’s stock worth $289,000 after acquiring an additional 7,410 shares in the last quarter. Fisher Asset Management LLC acquired a new stake in Solid Biosciences in the fourth quarter valued at $584,000. Finally, Renaissance Technologies LLC lifted its stake in Solid Biosciences by 135.4% in the first quarter. Renaissance Technologies LLC now owns 124,272 shares of the company’s stock valued at $895,000 after acquiring an additional 71,472 shares during the last quarter. Institutional investors own 81.46% of the company’s stock.

About Solid Biosciences

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.