Solid Biosciences (NASDAQ:SLDB) Stock Rating Upgraded by Cantor Fitzgerald

Solid Biosciences (NASDAQ:SLDB) was upgraded by Cantor Fitzgerald to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports. Cantor Fitzgerald also issued estimates for Solid Biosciences’ FY2025 earnings at ($1.60) EPS.

Several other research firms have also recently issued reports on SLDB. JPMorgan Chase & Co. reduced their price objective 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. HC Wainwright raised their target price 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, Chardan Capital reiterated a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a research note on Friday, March 7th. Eight analysts have rated the stock with a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Solid Biosciences presently has a consensus rating of “Buy” and an average price target of $15.67.

Solid Biosciences Trading Down 8.6%

Shares of 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 12-month low of $2.45 and a 12-month high of $10.46. The company has a market capitalization of $197.63 million, a PE ratio of -0.84 and a beta of 2.32.

Hedge Funds Weigh In On Solid Biosciences

Several institutional investors have recently bought and sold shares of SLDB. Siren L.L.C. raised its position in shares of Solid Biosciences by 97.8% during the 1st quarter. Siren L.L.C. now owns 7,415,905 shares of the company’s stock valued at $27,439,000 after buying an additional 3,666,864 shares in the last quarter. Monashee Investment Management LLC increased its stake in Solid Biosciences by 248.6% during the first quarter. Monashee Investment Management LLC now owns 1,673,412 shares of the company’s stock worth $6,192,000 after acquiring an additional 1,193,412 shares during the last quarter. JPMorgan Chase & Co. raised its position in Solid Biosciences by 9,393.8% during the fourth 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 purchased a new stake in Solid Biosciences during the fourth quarter valued at approximately $2,461,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Solid Biosciences by 270.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 264,069 shares of the company’s stock valued at $1,056,000 after purchasing an additional 192,714 shares during the last quarter. 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.