Solid Biosciences (NASDAQ:SLDB) Stock Lifted to Strong-Buy by UBS Group

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

SLDB has been the subject of several other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Solid Biosciences in a research report on Thursday. Cantor Fitzgerald raised their target price 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 restated a “buy” rating and set a $25.00 target price on shares of Solid Biosciences in a research report on Monday, September 14th. Royal Bank Of Canada initiated coverage on shares of Solid Biosciences in a research note on Wednesday, September 16th. They set an “outperform” rating and a $18.00 price target on the stock. Finally, Truist Financial upped their price target on shares of Solid Biosciences from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.79.

Solid Biosciences Stock Performance

NASDAQ:SLDB traded down $0.21 during mid-day trading on Wednesday, reaching $5.53. The stock had a trading volume of 1,401,828 shares, compared to its average volume of 1,547,287. Solid Biosciences has a twelve month low of $3.79 and a twelve month high of $11.45. The business has a 50 day simple moving average of $8.42 and a 200 day simple moving average of $8.18. The firm has a market capitalization of $592.93 million, a price-to-earnings ratio of -2.90 and a beta of 2.47.

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, sell-side analysts expect that Solid Biosciences will post -1.66 earnings per share for the current year.

Institutional Investors Weigh In On Solid Biosciences

Institutional investors have recently modified their holdings of the company. Engineers Gate Manager LP raised its holdings 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 purchasing an additional 7,410 shares during the last quarter. AXQ Capital LP acquired a new stake in Solid Biosciences in the second quarter valued at $197,000. Wellington Management Group LLP grew its holdings in Solid Biosciences by 14.9% in the second quarter. Wellington Management Group LLP now owns 185,365 shares of the company’s stock valued at $1,852,000 after purchasing an additional 24,087 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Solid Biosciences in the second quarter valued at $2,429,000. Finally, Perceptive Advisors LLC increased its position in shares of Solid Biosciences by 0.6% in the first quarter. Perceptive Advisors LLC now owns 11,906,646 shares of the company’s stock valued at $85,728,000 after buying an additional 73,107 shares in the last quarter. Hedge funds and other institutional investors own 81.46% of the company’s stock.

Solid Biosciences Company Profile

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.