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

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have been given a consensus recommendation of “Moderate Buy” by the eleven brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $17.1111.

A number of analysts have issued reports on the company. Wall Street Zen raised Solid Biosciences from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 4th. Truist Financial raised shares of Solid Biosciences to a “strong-buy” rating in a report on Monday, April 27th. Piper Sandler restated an “overweight” rating and issued a $18.00 price target (up from $17.00) on shares of Solid Biosciences in a research report on Wednesday, May 13th. Wedbush decreased their price target on shares of Solid Biosciences from $17.00 to $16.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Finally, HC Wainwright increased their price objective on shares of Solid Biosciences from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC purchased a new position in Solid Biosciences in the first quarter worth about $418,000. Goldman Sachs Group Inc. raised its position in Solid Biosciences by 32.2% during the first quarter. Goldman Sachs Group Inc. now owns 180,137 shares of the company’s stock valued at $667,000 after purchasing an additional 43,910 shares during the period. Woodline Partners LP bought a new stake in shares of Solid Biosciences in the 1st quarter valued at approximately $2,338,000. Creative Planning bought a new stake in shares of Solid Biosciences in the 2nd quarter valued at approximately $57,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Solid Biosciences by 111.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 34,379 shares of the company’s stock valued at $167,000 after purchasing an additional 18,094 shares during the last quarter. Institutional investors own 81.46% of the company’s stock.

Solid Biosciences Trading Down 1.9%

Shares of SLDB stock opened at $7.83 on Friday. Solid Biosciences has a 12-month low of $3.79 and a 12-month high of $11.45. The stock’s 50-day moving average price is $8.24 and its 200-day moving average price is $7.35. The stock has a market capitalization of $770.86 million, a price-to-earnings ratio of -4.02 and a beta of 2.36.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings results 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 predict that Solid Biosciences will post -1.9 EPS for the current fiscal year.

Solid Biosciences Company Profile

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.