Solid Biosciences Inc. (NASDAQ:SLDB) Receives Consensus Rating of “Moderate Buy” from Analysts

Solid Biosciences Inc. (NASDAQ:SLDB) has been assigned a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $17.00.

A number of research analysts have issued reports on SLDB shares. Guggenheim started coverage on Solid Biosciences in a research report on Friday, March 20th. They issued a “buy” rating and a $26.00 target price on the stock. Chardan Capital restated a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a report on Friday, March 20th. Truist Financial upgraded Solid Biosciences to a “strong-buy” rating in a report on Monday, April 27th. Piper Sandler restated an “overweight” rating and set a $18.00 price target (up from $17.00) on shares of Solid Biosciences in a report on Wednesday, May 13th. Finally, Wall Street Zen cut Solid Biosciences from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th.

Institutional Trading of Solid Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc grew its holdings in shares of Solid Biosciences by 208.6% during the second quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock worth $29,000 after purchasing an additional 4,063 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Solid Biosciences by 142.0% during the third quarter. Russell Investments Group Ltd. now owns 10,211 shares of the company’s stock worth $63,000 after purchasing an additional 5,991 shares during the last quarter. Creative Planning bought a new stake in shares of Solid Biosciences during the second quarter worth about $57,000. Polymer Capital Management US LLC bought a new stake in shares of Solid Biosciences during the third quarter worth about $94,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of Solid Biosciences during the third quarter worth about $114,000. 81.46% of the stock is currently owned by institutional investors.

Solid Biosciences Stock Up 0.6%

Solid Biosciences stock opened at $6.61 on Friday. Solid Biosciences has a 12-month low of $3.79 and a 12-month high of $8.87. The business’s 50-day moving average price is $7.37 and its two-hundred day moving average price is $6.57. The stock has a market cap of $650.75 million, a PE ratio of -3.39 and a beta of 2.43.

Solid Biosciences (NASDAQ:SLDB) last released its earnings results on Tuesday, May 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.12). As a group, analysts expect that Solid Biosciences will post -1.9 earnings per share for the current year.

About Solid Biosciences

Solid Biosciences Inc is a clinical‐stage biotechnology company focused on the development of therapies for Duchenne muscular dystrophy (DMD), a rare genetic disorder characterized by progressive muscle degeneration. The company’s primary approach centers on gene replacement and gene editing technologies designed to restore functional dystrophin protein in patients lacking this critical muscle‐stabilizing protein.

Solid’s lead investigational therapy, SGT‐001, is a micro‐dystrophin gene therapy candidate engineered to deliver a shortened but functional form of the dystrophin gene using an adeno‐associated virus (AAV) vector.