Solid Biosciences Inc. (NASDAQ:SLDB) Stock Has Average Target Price of $18.79

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have received a consensus recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $20.00.

SLDB has been the topic of a number of research analyst reports. HC Wainwright reiterated a “buy” rating on shares of Solid Biosciences in a research note on Tuesday, October 27th. Loop Capital set a $25.00 target price on shares of Solid Biosciences in a research report on Monday, September 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Biosciences in a research report on Thursday, October 15th. Royal Bank Of Canada initiated coverage on shares of Solid Biosciences in a research note on Wednesday, September 16th. They issued an “outperform” rating and a $18.00 target price on the stock. Finally, UBS Group started coverage on shares of Solid Biosciences in a research report on Wednesday, October 14th. They set a “buy” rating and a $20.00 price target on the stock.

Institutional Trading of Solid Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. grew its position in shares of Solid Biosciences by 32.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 63,928 shares of the company’s stock worth $462,000 after acquiring an additional 15,628 shares in the last quarter. Alps Advisors Inc. increased its holdings in shares of Solid Biosciences by 42.2% in the 3rd quarter. Alps Advisors Inc. now owns 142,048 shares of the company’s stock valued at $1,027,000 after acquiring an additional 42,132 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Solid Biosciences in the 3rd quarter valued at approximately $40,000. China Universal Asset Management Co. Ltd. raised its position in shares of Solid Biosciences by 24.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 19,564 shares of the company’s stock valued at $140,000 after acquiring an additional 3,896 shares in the last quarter. Finally, Engineers Gate Manager LP raised its position in shares of Solid Biosciences by 34.5% during the 2nd quarter. Engineers Gate Manager LP now owns 28,915 shares of the company’s stock valued at $289,000 after acquiring an additional 7,410 shares in the last quarter. Institutional investors and hedge funds own 81.46% of the company’s stock.

Solid Biosciences Stock Up 6.6%

Shares of SLDB opened at $6.59 on Tuesday. The firm has a market cap of $735.52 million, a price-to-earnings ratio of -3.68 and a beta of 2.65. The business’s 50 day moving average is $7.48 and its two-hundred day moving average is $7.66. Solid Biosciences has a 52-week low of $3.79 and a 52-week high of $11.45.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings results on Wednesday, November 4th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.05. On average, equities analysts expect that Solid Biosciences will post -1.65 earnings per share for the current fiscal year.

Solid Biosciences Company Profile

Solid Biosciences Inc (NASDAQ: SLDB) is a biotechnology company focused on developing gene therapies for neuromuscular and other serious genetic diseases. The company uses adeno-associated virus (AAV) delivery technologies and genetic medicine approaches to develop treatments intended to address the underlying causes of disease.

Its lead investigational program, SGT-003, is being developed as a gene therapy for Duchenne muscular dystrophy, a severe X-linked muscle-wasting disorder. Solid Biosciences also has additional preclinical and clinical programs targeting other neuromuscular conditions, including diseases associated with defects in muscle proteins.