Solid Biosciences (NASDAQ:SLDB) Research Coverage Started at William Blair

William Blair initiated coverage on shares of Solid Biosciences (NASDAQ:SLDB) in a report issued on Monday, MarketBeat Ratings reports. The brokerage issued an outperform rating on the stock.

A number of other research firms have also weighed in on SLDB. UBS Group assumed coverage on Solid Biosciences in a research note on Wednesday, October 14th. They set a “buy” rating and a $20.00 price objective for the company. Loop Capital set a $25.00 target price on shares of Solid Biosciences in a research note on Monday, September 14th. Cantor Fitzgerald upped their price target on shares of Solid Biosciences from $16.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday, August 27th. HC Wainwright reiterated a “buy” rating on shares of Solid Biosciences in a report on Tuesday, October 27th. Finally, Royal Bank Of Canada began coverage on shares of Solid Biosciences in a research report on Wednesday, September 16th. They set an “outperform” rating and a $18.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Solid Biosciences Trading Up 6.0%

SLDB opened at $7.60 on Monday. The company has a market cap of $848.24 million, a P/E ratio of -4.25 and a beta of 2.65. The business’s 50-day moving average price is $7.33 and its 200-day moving average price is $7.67. Solid Biosciences has a 12 month low of $4.16 and a 12 month high of $11.45.

Solid Biosciences (NASDAQ:SLDB) last released its earnings results on Wednesday, November 4th. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.05. Equities research analysts forecast that Solid Biosciences will post -1.60 earnings per share for the current fiscal year.

Institutional Trading of Solid Biosciences

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLDB. China Universal Asset Management Co. Ltd. lifted its position in shares of Solid Biosciences by 24.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 19,564 shares of the company’s stock worth $140,000 after purchasing an additional 3,896 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Solid Biosciences during the 3rd quarter valued at approximately $40,000. Engineers Gate Manager LP boosted its position in Solid Biosciences by 34.5% during the 2nd quarter. Engineers Gate Manager LP now owns 28,915 shares of the company’s stock valued at $289,000 after acquiring an additional 7,410 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Solid Biosciences by 32.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 63,928 shares of the company’s stock valued at $462,000 after acquiring an additional 15,628 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of Solid Biosciences by 78.4% during the 1st quarter. Hsbc Holdings PLC now owns 39,511 shares of the company’s stock worth $284,000 after acquiring an additional 17,360 shares during the period. Hedge funds and other institutional investors own 81.46% of the company’s stock.

Solid Biosciences Company Profile

Solid Biosciences is a biotechnology company developing genetic medicines for Duchenne muscular dystrophy and other serious neuromuscular and cardiac diseases. The company’s research focuses on gene-transfer approaches intended to address underlying causes of these conditions. Its lead program, SGT-003, is an investigational gene therapy being developed for Duchenne muscular dystrophy. Solid Biosciences also has research programs targeting other rare diseases. These programs are in development, and its therapies have not been established as approved treatments.