Solid Biosciences Inc. (NASDAQ:SLDB) Given Consensus Rating of “Moderate Buy” by Brokerages

Solid Biosciences Inc. (NASDAQ:SLDB) has been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $17.00.

A number of research analysts have commented on the company. Wall Street Zen lowered Solid Biosciences from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Chardan Capital reiterated a “buy” rating and issued a $15.00 price objective on shares of Solid Biosciences in a research report on Friday, March 20th. Wedbush decreased their price objective on Solid Biosciences from $17.00 to $16.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Truist Financial upgraded Solid Biosciences to a “strong-buy” rating in a research report on Monday, April 27th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $19.00 price objective on shares of Solid Biosciences in a research report on Friday, March 20th.

Solid Biosciences Stock Performance

Shares of SLDB opened at $9.99 on Wednesday. The firm has a market capitalization of $983.52 million, a price-to-earnings ratio of -5.12 and a beta of 2.43. The business’s fifty day moving average price is $7.48 and its two-hundred day moving average price is $6.86. Solid Biosciences has a 52 week low of $3.79 and a 52 week high of $10.41.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.12). As a group, research analysts forecast that Solid Biosciences will post -1.9 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC acquired a new position in shares of Solid Biosciences in the 1st quarter valued at $28,877,000. Vestal Point Capital LP lifted its stake in shares of Solid Biosciences by 95.5% in the 4th quarter. Vestal Point Capital LP now owns 5,815,000 shares of the company’s stock valued at $32,797,000 after purchasing an additional 2,840,000 shares during the period. Armistice Capital LLC lifted its stake in shares of Solid Biosciences by 179.1% in the 4th quarter. Armistice Capital LLC now owns 2,612,000 shares of the company’s stock valued at $14,732,000 after purchasing an additional 1,676,000 shares during the period. Nantahala Capital Management LLC lifted its stake in shares of Solid Biosciences by 505.4% in the 2nd quarter. Nantahala Capital Management LLC now owns 1,703,336 shares of the company’s stock valued at $8,295,000 after purchasing an additional 1,421,968 shares during the period. Finally, Monashee Investment Management LLC acquired a new position in shares of Solid Biosciences in the 4th quarter valued at $7,613,000. 81.46% of the stock is currently owned by institutional investors.

About Solid Biosciences

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.