Solid Biosciences Inc. (NASDAQ:SLDB) Receives $18.18 Average Price Target from Brokerages

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have been given a consensus recommendation of “Moderate Buy” by the thirteen research firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $18.6923.

Several brokerages have recently issued reports on SLDB. Royal Bank Of Canada started coverage on shares of Solid Biosciences in a report on Wednesday. They issued an “outperform” rating and a $18.00 target price on the stock. Loop Capital set a $25.00 price target on shares of Solid Biosciences in a report on Monday. HC Wainwright reissued a “buy” rating and set a $25.00 price target on shares of Solid Biosciences in a research report on Monday. Wall Street Zen raised shares of Solid Biosciences from a “strong sell” rating to a “sell” rating in a report on Saturday, July 4th. Finally, Cantor Fitzgerald boosted their price objective on shares of Solid Biosciences from $16.00 to $26.00 and gave the company an “overweight” rating in a research report on Thursday, August 27th.

Solid Biosciences Price Performance

Shares of SLDB stock opened at $8.72 on Monday. The business has a 50-day moving average of $9.11 and a 200 day moving average of $8.17. Solid Biosciences has a 1-year low of $3.79 and a 1-year high of $11.45. The stock has a market capitalization of $934.96 million, a PE ratio of -4.57 and a beta of 2.44.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.08. Analysts anticipate that Solid Biosciences will post -1.67 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SLDB. Engineers Gate Manager LP grew its position in shares of Solid Biosciences by 34.5% in the 2nd quarter. Engineers Gate Manager LP now owns 28,915 shares of the company’s stock worth $289,000 after buying an additional 7,410 shares during the last quarter. AXQ Capital LP bought a new position in shares of Solid Biosciences during the second quarter valued at approximately $197,000. Wellington Management Group LLP raised its holdings in shares of Solid Biosciences by 14.9% during the second quarter. Wellington Management Group LLP now owns 185,365 shares of the company’s stock valued at $1,852,000 after acquiring an additional 24,087 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Solid Biosciences in the second quarter worth $2,429,000. Finally, Perceptive Advisors LLC lifted its stake in Solid Biosciences by 0.6% in the first quarter. Perceptive Advisors LLC now owns 11,906,646 shares of the company’s stock worth $85,728,000 after acquiring an additional 73,107 shares during the period. Institutional investors own 81.46% of the company’s stock.

About Solid Biosciences

Solid Biosciences Inc (NASDAQ:SLDB) is a biotechnology company developing genetic medicines for neuromuscular and cardiac diseases. The company combines gene therapy, genetic medicine and manufacturing technologies to design treatments intended to address the underlying causes of serious inherited disorders.

Solid’s lead program is SGT-003, an investigational gene therapy being developed for Duchenne muscular dystrophy, a progressive genetic disease that causes muscle degeneration. The company is also advancing SGT-501, an investigational gene therapy for BAG3-associated dilated cardiomyopathy, a rare inherited heart condition.