Solid Biosciences’ (SLDB) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Solid Biosciences (NASDAQ:SLDB) in a report released on Monday morning, MarketBeat reports. They currently have a $25.00 target price on the stock.

A number of other analysts have also commented on the stock. Truist Financial boosted 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. Cantor Fitzgerald lifted 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Solid Biosciences in a report on Friday, July 17th. Finally, Wall Street Zen upgraded Solid Biosciences from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 4th. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.69.

Solid Biosciences Trading Up 4.2%

SLDB stock opened at $8.72 on Monday. Solid Biosciences has a 1-year low of $3.79 and a 1-year high of $11.45. The business’s 50-day moving average price is $9.11 and its two-hundred day moving average price is $8.17. The firm has a market cap of $934.96 million, a PE ratio of -4.57 and a beta of 2.44.

Solid Biosciences (NASDAQ:SLDB) last announced its earnings results on Thursday, August 6th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.08. On average, analysts forecast that Solid Biosciences will post -1.67 earnings per share 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. AXQ Capital LP bought a new position in Solid Biosciences in the 2nd quarter valued at about $197,000. Hsbc Holdings PLC lifted its holdings in shares of Solid Biosciences by 78.4% during the 1st quarter. Hsbc Holdings PLC now owns 39,511 shares of the company’s stock worth $284,000 after acquiring an additional 17,360 shares during the period. Engineers Gate Manager LP boosted 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 worth $289,000 after acquiring an additional 7,410 shares in the last quarter. Fisher Asset Management LLC bought a new position in Solid Biosciences in the fourth quarter valued at approximately $584,000. Finally, Renaissance Technologies LLC increased its stake in Solid Biosciences by 135.4% in the first quarter. Renaissance Technologies LLC now owns 124,272 shares of the company’s stock valued at $895,000 after acquiring an additional 71,472 shares during the last quarter. Institutional investors and hedge funds 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.