Solid Biosciences (NASDAQ:SLDB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Solid Biosciences (NASDAQ:SLDB) from a sell rating to a hold rating in a research note published on Saturday.

Other equities research analysts have also recently issued research reports about 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 report on Monday, July 21st. Wedbush lowered their price target on shares of Solid Biosciences from $17.00 to $14.00 and set an “outperform” rating for the company in a research report on Wednesday, August 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Biosciences in a research report on Wednesday, October 8th. Citigroup assumed coverage on shares of Solid Biosciences in a research note on Thursday, June 26th. They set a “buy” rating and a $14.00 price objective for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of Solid Biosciences in a research note on Tuesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Solid Biosciences currently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Solid Biosciences Stock Performance

Shares of SLDB opened at $6.01 on Friday. The company has a 50 day moving average price of $5.77 and a 200-day moving average price of $4.73. Solid Biosciences has a fifty-two week low of $2.41 and a fifty-two week high of $7.37. The stock has a market capitalization of $468.00 million, a PE ratio of -2.15 and a beta of 2.53.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Bridgeway Capital Management LLC increased its stake in Solid Biosciences by 18.0% during the 2nd quarter. Bridgeway Capital Management LLC now owns 98,531 shares of the company’s stock valued at $480,000 after purchasing an additional 15,000 shares in the last quarter. Birchview Capital LP increased its stake in Solid Biosciences by 38.8% during the 2nd quarter. Birchview Capital LP now owns 178,768 shares of the company’s stock valued at $871,000 after purchasing an additional 50,000 shares in the last quarter. Bank of America Corp DE increased its stake in Solid Biosciences by 2,150.4% during the 2nd quarter. Bank of America Corp DE now owns 824,600 shares of the company’s stock valued at $4,016,000 after purchasing an additional 787,957 shares in the last quarter. Nantahala Capital Management LLC increased its stake in Solid Biosciences by 505.4% during the 2nd quarter. Nantahala Capital Management LLC now owns 1,703,336 shares of the company’s stock valued at $8,295,000 after purchasing an additional 1,421,968 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Solid Biosciences by 168.1% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,143 shares of the company’s stock valued at $176,000 after purchasing an additional 22,663 shares in the last quarter. Institutional investors and hedge funds own 81.46% of the company’s stock.

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.