Solid Biosciences (NASDAQ:SLDB) Stock Crosses Above 50-Day Moving Average – What’s Next?

Solid Biosciences Inc. (NASDAQ:SLDB)’s share price crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $7.33 and traded as high as $7.86. Solid Biosciences shares last traded at $7.60, with a volume of 1,957,909 shares.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SLDB. Cantor Fitzgerald boosted their target price on Solid Biosciences from $16.00 to $26.00 and gave the stock an “overweight” rating in a report on Thursday, August 27th. HC Wainwright restated a “buy” rating on shares of Solid Biosciences in a research report on Tuesday, October 27th. William Blair began coverage on Solid Biosciences in a research report on Monday. They issued an “outperform” rating on the stock. Loop Capital set a $25.00 price objective on shares of Solid Biosciences in a research note on Monday, September 14th. Finally, Truist Financial raised their price objective on Solid Biosciences from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Solid Biosciences Stock Down 2.3%

The business has a 50-day moving average of $7.20 and a 200-day moving average of $7.68.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings data on Wednesday, November 4th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.05. Research analysts expect that Solid Biosciences Inc. will post -1.60 EPS for the current year.

Institutional Investors Weigh In On Solid Biosciences

Large investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its position in shares of Solid Biosciences by 32.4% in the third quarter. Russell Investments Group Ltd. now owns 63,928 shares of the company’s stock valued at $462,000 after purchasing an additional 15,628 shares during the period. Alps Advisors Inc. boosted its stake in shares of Solid Biosciences by 42.2% in the third quarter. Alps Advisors Inc. now owns 142,048 shares of the company’s stock valued at $1,027,000 after buying an additional 42,132 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Solid Biosciences in the third quarter valued at approximately $40,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Solid Biosciences by 24.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 19,564 shares of the company’s stock valued at $140,000 after buying an additional 3,896 shares during the period. Finally, Engineers Gate Manager LP grew its position in Solid Biosciences by 34.5% during the second quarter. Engineers Gate Manager LP now owns 28,915 shares of the company’s stock worth $289,000 after buying an additional 7,410 shares in the last quarter. Institutional investors own 81.46% of the company’s stock.

About Solid Biosciences

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.