UBS Group Upgrades Solid Biosciences (NASDAQ:SLDB) to Strong-Buy

Solid Biosciences (NASDAQ:SLDB) was upgraded by stock analysts at UBS Group to a “strong-buy” rating in a note issued to investors on Wednesday, Zacks reports.

Several other equities research analysts also recently weighed in on SLDB. Loop Capital set a $25.00 price objective on Solid Biosciences in a report on Monday, September 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Biosciences in a report on Thursday. HC Wainwright reiterated a “buy” rating and issued a $25.00 price target on shares of Solid Biosciences in a research report on Monday, September 14th. Cantor Fitzgerald increased their price target on shares of Solid Biosciences from $16.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday, August 27th. Finally, Truist Financial raised their price objective on shares of Solid Biosciences from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Solid Biosciences has an average rating of “Moderate Buy” and an average price target of $18.79.

Solid Biosciences Trading Down 3.7%

Shares of Solid Biosciences stock traded down $0.21 on Wednesday, hitting $5.53. The stock had a trading volume of 1,401,828 shares, compared to its average volume of 1,547,287. The stock has a market cap of $592.93 million, a price-to-earnings ratio of -2.90 and a beta of 2.47. Solid Biosciences has a 52-week low of $3.79 and a 52-week high of $11.45. The company’s 50 day moving average price is $8.42 and its 200 day moving average price is $8.18.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.08. Analysts predict that Solid Biosciences will post -1.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

About Solid Biosciences

Solid Biosciences Inc is a biotechnology company focused on developing genetic medicines for patients with rare diseases. The company’s research platform is centered on adeno-associated virus (AAV) gene therapy and other genetic medicine technologies intended to address the underlying causes of disease.

Solid Biosciences’ lead program is SGT-003, an investigational gene therapy being developed for Duchenne muscular dystrophy, a severe inherited neuromuscular disorder. The company is also developing additional programs for rare cardiac and neuromuscular conditions, including SGT-501 for BAG3-associated dilated cardiomyopathy.