Solid Biosciences Inc. (NASDAQ:SLDB) Stock Has Average Price Target of $18.69

Solid Biosciences Inc. (NASDAQ:SLDB) has received a consensus rating of “Moderate Buy” from the thirteen analysts that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and twelve have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $18.69.

SLDB has been the topic of a number of recent analyst reports. Cantor Fitzgerald boosted their price target on shares of Solid Biosciences from $16.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday, August 27th. Truist Financial increased their price target on shares of Solid Biosciences from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, August 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Solid Biosciences in a research report on Friday, July 17th. HC Wainwright restated a “buy” rating and issued a $25.00 price objective on shares of Solid Biosciences in a research report on Monday, September 14th. Finally, Wall Street Zen raised Solid Biosciences from a “strong sell” rating to a “sell” rating in a report on Saturday, July 4th.

Hedge Funds Weigh In On Solid Biosciences

Large investors have recently modified their holdings of the business. Engineers Gate Manager LP increased its holdings in shares of Solid Biosciences by 34.5% in the 2nd quarter. Engineers Gate Manager LP now owns 28,915 shares of the company’s stock valued at $289,000 after purchasing an additional 7,410 shares in the last quarter. Hsbc Holdings PLC lifted its stake in shares of Solid Biosciences by 78.4% in the first quarter. Hsbc Holdings PLC now owns 39,511 shares of the company’s stock valued at $284,000 after purchasing an additional 17,360 shares during the period. AXQ Capital LP acquired a new stake in shares of Solid Biosciences in the second quarter valued at about $197,000. Wellington Management Group LLP boosted its holdings in Solid Biosciences by 14.9% during the second quarter. Wellington Management Group LLP now owns 185,365 shares of the company’s stock worth $1,852,000 after buying an additional 24,087 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Solid Biosciences by 12.3% during the first quarter. Bank of America Corp DE now owns 386,793 shares of the company’s stock worth $2,785,000 after buying an additional 42,499 shares in the last quarter. 81.46% of the stock is owned by hedge funds and other institutional investors.

Solid Biosciences Price Performance

Shares of SLDB opened at $5.82 on Friday. Solid Biosciences has a 1 year low of $3.79 and a 1 year high of $11.45. The company’s fifty day moving average is $8.60 and its two-hundred day moving average is $8.22.

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

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.