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

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have earned an average rating of “Moderate Buy” from the eleven research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and ten have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $17.40.

A number of equities research analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Biosciences in a research note on Friday, July 17th. HC Wainwright increased their target price on Solid Biosciences from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. Wedbush reduced their target price on Solid Biosciences from $17.00 to $16.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Piper Sandler restated an “overweight” rating and set a $18.00 target price (up from $17.00) on shares of Solid Biosciences in a report on Wednesday, May 13th. Finally, Wall Street Zen upgraded Solid Biosciences from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 4th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SLDB. California State Teachers Retirement System grew its holdings in Solid Biosciences by 239.5% during the second quarter. California State Teachers Retirement System now owns 10,829 shares of the company’s stock valued at $1,084,000 after purchasing an additional 7,639 shares during the period. AXQ Capital LP bought a new position in shares of Solid Biosciences during the second quarter worth $197,000. Wellington Management Group LLP boosted its position 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 worth $1,852,000 after purchasing an additional 24,087 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Solid Biosciences during the second quarter worth $2,429,000. Finally, Perceptive Advisors LLC grew its holdings in shares of Solid Biosciences by 0.6% in the 1st quarter. Perceptive Advisors LLC now owns 11,906,646 shares of the company’s stock valued at $85,728,000 after buying an additional 73,107 shares during the period. Institutional investors own 81.46% of the company’s stock.

Solid Biosciences Stock Performance

SLDB opened at $9.72 on Thursday. The company has a fifty day moving average price of $9.15 and a two-hundred day moving average price of $7.82. Solid Biosciences has a 52 week low of $3.79 and a 52 week high of $11.45. The firm has a market capitalization of $1.04 billion, a PE ratio of -5.09 and a beta of 2.41.

Solid Biosciences (NASDAQ:SLDB) last issued its earnings results on Thursday, August 6th. The company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.08. Equities analysts forecast that Solid Biosciences will post -1.67 EPS for the current year.

Solid Biosciences Company Profile

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.