Solid Biosciences Inc. (NASDAQ:SLDB) Given Consensus Rating of “Moderate Buy” by Brokerages

Solid Biosciences Inc. (NASDAQ:SLDB) has earned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $16.00.

A number of research analysts have commented on the stock. HC Wainwright reiterated a “buy” rating and set a $16.00 price objective on shares of Solid Biosciences in a research note on Monday, May 20th. Citigroup initiated coverage on shares of Solid Biosciences in a report on Friday, March 15th. They issued a “buy” rating and a $16.00 price objective on the stock. Piper Sandler initiated coverage on shares of Solid Biosciences in a report on Friday, May 31st. They issued an “overweight” rating and a $20.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Solid Biosciences from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Finally, Barclays dropped their price objective on shares of Solid Biosciences from $21.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, May 16th.

Solid Biosciences Price Performance

Shares of SLDB stock opened at $7.90 on Tuesday. Solid Biosciences has a twelve month low of $1.81 and a twelve month high of $15.05. The company has a current ratio of 14.94, a quick ratio of 14.94 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $303.20 million, a PE ratio of -2.01 and a beta of 1.87. The firm has a fifty day simple moving average of $9.08 and a 200-day simple moving average of $8.62.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings data on Wednesday, May 15th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). Equities research analysts anticipate that Solid Biosciences will post -2.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Solid Biosciences

Several large investors have recently bought and sold shares of SLDB. Vestal Point Capital LP acquired a new position in Solid Biosciences during the 4th quarter valued at about $209,000. Vanguard Group Inc. increased its stake in Solid Biosciences by 283.9% during the 1st quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock valued at $16,578,000 after buying an additional 920,404 shares during the period. Janus Henderson Group PLC acquired a new position in Solid Biosciences during the 1st quarter valued at about $23,935,000. Artal Group S.A. increased its stake in Solid Biosciences by 175.0% during the 1st quarter. Artal Group S.A. now owns 2,500,000 shares of the company’s stock valued at $33,300,000 after buying an additional 1,590,781 shares during the period. Finally, Bain Capital Life Sciences Investors LLC increased its stake in Solid Biosciences by 28.9% during the 1st quarter. Bain Capital Life Sciences Investors LLC now owns 4,034,582 shares of the company’s stock valued at $53,741,000 after buying an additional 904,160 shares during the period. 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.