Solid Biosciences (NASDAQ:SLDB) Price Target Lowered to $11.00 at JPMorgan Chase & Co.

Solid Biosciences (NASDAQ:SLDB) had its price target decreased by equities researchers at JPMorgan Chase & Co. from $13.00 to $11.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 178.13% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Barclays set a $9.00 target price on shares of Solid Biosciences and gave the stock an “overweight” rating in a research report on Tuesday. Cantor Fitzgerald set a $16.00 target price on shares of Solid Biosciences and gave the stock an “overweight” rating in a report on Monday, July 21st. Wall Street Zen downgraded shares of Solid Biosciences from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Biosciences in a research report on Wednesday, October 8th. Finally, Wedbush lowered their price target on shares of Solid Biosciences from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.70.

Solid Biosciences Price Performance

NASDAQ:SLDB traded down $0.46 during mid-day trading on Wednesday, hitting $3.96. 1,315,152 shares of the company’s stock were exchanged, compared to its average volume of 1,702,609. Solid Biosciences has a one year low of $2.41 and a one year high of $7.37. The business has a fifty day moving average price of $5.65 and a 200 day moving average price of $5.05. The company has a market cap of $307.98 million, a PE ratio of -1.59 and a beta of 2.75.

Solid Biosciences (NASDAQ:SLDB) last announced its earnings results on Monday, November 3rd. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.06). On average, equities analysts forecast that Solid Biosciences will post -2.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Solid Biosciences

A number of large investors have recently modified their holdings of the business. CWM LLC grew its holdings in shares of Solid Biosciences by 15,188.5% in the first quarter. CWM LLC now owns 7,950 shares of the company’s stock valued at $29,000 after purchasing an additional 7,898 shares during the period. Legal & General Group Plc increased its stake in Solid Biosciences by 208.6% during the 2nd 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 period. Ameritas Investment Partners Inc. raised its holdings in Solid Biosciences by 205.5% in the second quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company’s stock valued at $33,000 after acquiring an additional 4,534 shares in the last quarter. Ground Swell Capital LLC purchased a new stake in shares of Solid Biosciences in the 1st quarter valued at approximately $42,000. Finally, Pallas Capital Advisors LLC purchased a new stake in shares of Solid Biosciences in the 2nd quarter valued at approximately $54,000. Hedge funds and other institutional investors own 81.46% of the company’s stock.

Solid Biosciences Company Profile

Solid Biosciences Inc, a life science company, develops therapies for neuromuscular and cardiac diseases in the United States. The company's lead product candidate is SGT-003, a gene transfer candidate for the treatment of Duchenne muscular dystrophy; and SGT-501 to treat Catecholaminergic polymorphic ventricular tachycardia.