Solid Biosciences (NASDAQ:SLDB) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Solid Biosciences (NASDAQ:SLDB) from a hold rating to a sell rating in a report published on Sunday morning.

Several other analysts have also recently issued reports on SLDB. Wedbush reduced their price target on shares of Solid Biosciences from $17.00 to $14.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 13th. Chardan Capital reissued a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a research report on Thursday, August 14th. Citigroup assumed coverage on shares of Solid Biosciences in a report on Thursday, June 26th. They issued a “buy” rating and a $14.00 target price on the stock. Cantor Fitzgerald set a $16.00 price target on shares of Solid Biosciences and gave the stock an “overweight” rating in a research note on Monday, July 21st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Solid Biosciences from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Solid Biosciences Stock Performance

Shares of SLDB opened at $6.01 on Friday. The stock has a market capitalization of $468.00 million, a PE ratio of -2.15 and a beta of 2.53. Solid Biosciences has a 1 year low of $2.41 and a 1 year high of $7.37. The company’s 50-day simple moving average is $5.75 and its 200-day simple moving average is $4.83.

Solid Biosciences (NASDAQ:SLDB) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.51) by $0.09. On average, sell-side analysts predict that Solid Biosciences will post -2.84 earnings per share for the current year.

Hedge Funds Weigh In On Solid Biosciences

Several hedge funds have recently added to or reduced their stakes in SLDB. CWM LLC increased its stake in 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 last quarter. Legal & General Group Plc increased its stake in Solid Biosciences by 208.6% in the second quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock valued at $29,000 after purchasing an additional 4,063 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake 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 purchasing an additional 4,534 shares during the last quarter. Ground Swell Capital LLC purchased a new position in Solid Biosciences in the first quarter valued at approximately $42,000. Finally, Pallas Capital Advisors LLC purchased a new position in Solid Biosciences in the second quarter valued at approximately $54,000. 81.46% of the stock is currently owned by hedge funds and other institutional investors.

About Solid Biosciences

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.