Solid Biosciences (NASDAQ:SLDB) Raised to Strong-Buy at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Solid Biosciences (NASDAQ:SLDB) to a strong-buy rating in a research report sent to investors on Tuesday,Zacks.com reports. Cantor Fitzgerald also issued estimates for Solid Biosciences’ FY2025 earnings at ($1.60) EPS.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. dropped their price objective on shares of Solid Biosciences from $12.00 to $11.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. HC Wainwright upped their price objective on shares of Solid Biosciences from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Finally, Chardan Capital reissued a “buy” rating and issued a $16.00 price objective on shares of Solid Biosciences in a research note on Friday, March 7th. Eight investment analysts have rated the stock with a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $15.67.

Solid Biosciences Price Performance

Shares of NASDAQ:SLDB opened at $2.55 on Tuesday. The business’s 50-day moving average is $3.63 and its 200-day moving average is $4.26. Solid Biosciences has a 1 year low of $2.45 and a 1 year high of $10.46. The company has a market capitalization of $197.63 million, a price-to-earnings ratio of -0.84 and a beta of 2.32.

Institutional Trading of Solid Biosciences

Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its position in shares of Solid Biosciences by 9,393.8% during the fourth quarter. JPMorgan Chase & Co. now owns 955,932 shares of the company’s stock worth $3,824,000 after acquiring an additional 945,863 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Solid Biosciences by 12.7% in the fourth quarter. Renaissance Technologies LLC now owns 82,493 shares of the company’s stock valued at $330,000 after purchasing an additional 9,281 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Solid Biosciences by 4.0% during the 4th quarter. Wellington Management Group LLP now owns 124,551 shares of the company’s stock worth $498,000 after purchasing an additional 4,747 shares in the last quarter. Rhumbline Advisers boosted its stake in Solid Biosciences by 10.5% in the 4th quarter. Rhumbline Advisers now owns 43,677 shares of the company’s stock worth $175,000 after purchasing an additional 4,161 shares during the period. Finally, Prudential Financial Inc. increased its position in shares of Solid Biosciences by 71.3% during the fourth quarter. Prudential Financial Inc. now owns 109,105 shares of the company’s stock valued at $436,000 after buying an additional 45,400 shares during the period. 81.46% of the stock is currently owned by hedge funds and other institutional investors.

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.