Solid Biosciences Inc. (NASDAQ:SLDB) Given Average Rating of “Buy” by Analysts

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have been assigned a consensus rating of “Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation and four have assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $15.67.

A number of analysts recently weighed in on the company. Chardan Capital restated a “buy” rating and issued a $16.00 target price on shares of Solid Biosciences in a research report on Friday, March 7th. HC Wainwright upped their price objective on shares of Solid Biosciences from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Solid Biosciences from $12.00 to $11.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th.

Hedge Funds Weigh In On Solid Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its position in Solid Biosciences by 9,393.8% during the 4th quarter. JPMorgan Chase & Co. now owns 955,932 shares of the company’s stock valued at $3,824,000 after purchasing an additional 945,863 shares during the period. Redmile Group LLC bought a new position in Solid Biosciences in the fourth quarter worth about $2,461,000. Dimensional Fund Advisors LP lifted its holdings in Solid Biosciences by 270.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 264,069 shares of the company’s stock worth $1,056,000 after buying an additional 192,714 shares during the period. Trexquant Investment LP boosted its position in Solid Biosciences by 256.9% during the 4th quarter. Trexquant Investment LP now owns 194,281 shares of the company’s stock valued at $777,000 after acquiring an additional 139,851 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Solid Biosciences by 479.4% during the 4th quarter. Cubist Systematic Strategies LLC now owns 65,613 shares of the company’s stock worth $262,000 after acquiring an additional 54,288 shares during the period. Institutional investors own 81.46% of the company’s stock.

Solid Biosciences Stock Up 6.9 %

SLDB opened at $2.77 on Friday. The business’s fifty day simple moving average is $3.85 and its 200 day simple moving average is $4.34. Solid Biosciences has a 52 week low of $2.45 and a 52 week high of $10.99. The stock has a market cap of $214.68 million, a PE ratio of -0.91 and a beta of 2.32.

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.