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

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have earned an average rating of “Moderate Buy” from the eleven ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $17.1111.

Several equities analysts have recently issued reports on the stock. HC Wainwright raised their price target on shares of Solid Biosciences from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Biosciences in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Solid Biosciences from a “strong sell” rating to a “sell” rating in a report on Saturday, July 4th. Piper Sandler reiterated an “overweight” rating and set a $18.00 price objective (up from $17.00) on shares of Solid Biosciences in a report on Wednesday, May 13th. Finally, Wedbush decreased their price target on Solid Biosciences from $17.00 to $16.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th.

Institutional Investors Weigh In On Solid Biosciences

Hedge funds have recently made changes to their positions in the business. Legal & General Group Plc increased its holdings in Solid Biosciences by 208.6% during the second quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock worth $29,000 after buying an additional 4,063 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Solid Biosciences by 142.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 10,211 shares of the company’s stock valued at $63,000 after acquiring an additional 5,991 shares during the period. Creative Planning purchased a new stake in shares of Solid Biosciences during the 2nd quarter worth approximately $57,000. Polymer Capital Management US LLC bought a new stake in shares of Solid Biosciences in the 3rd quarter worth approximately $94,000. Finally, Jain Global LLC purchased a new position in Solid Biosciences in the fourth quarter valued at approximately $114,000. 81.46% of the stock is currently owned by institutional investors.

Solid Biosciences Stock Performance

NASDAQ SLDB opened at $8.49 on Friday. The firm’s fifty day moving average price is $8.38 and its two-hundred day moving average price is $7.44. The stock has a market cap of $835.84 million, a PE ratio of -4.35 and a beta of 2.36. Solid Biosciences has a fifty-two week low of $3.79 and a fifty-two week high of $11.45.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.12). As a group, sell-side analysts predict that Solid Biosciences will post -1.9 earnings per share 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.