Solid Biosciences (NASDAQ:SLDB) Now Covered by Analysts at William Blair

Stock analysts at William Blair began coverage on shares of Solid Biosciences (NASDAQ:SLDB) in a research report issued on Monday. The brokerage set an “outperform” rating on the stock.

SLDB has been the subject of several other research reports. Truist Financial raised their price target on shares of Solid Biosciences from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, August 21st. Cantor Fitzgerald upped their price objective on Solid Biosciences from $16.00 to $26.00 and gave the company an “overweight” rating in a research note on Thursday, August 27th. Royal Bank Of Canada started coverage on Solid Biosciences in a report on Wednesday, September 16th. They set an “outperform” rating and a $18.00 price objective for the company. Loop Capital set a $25.00 target price on Solid Biosciences in a research report on Monday, September 14th. Finally, HC Wainwright reissued a “buy” rating on shares of Solid Biosciences in a research report on Tuesday, October 27th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $20.00.

Solid Biosciences Stock Up 4.3%

NASDAQ SLDB traded up $0.29 during trading hours on Monday, reaching $6.88. 79,744 shares of the company were exchanged, compared to its average volume of 1,353,482. The stock has a market capitalization of $767.43 million, a P/E ratio of -3.87 and a beta of 2.65. Solid Biosciences has a 1 year low of $4.01 and a 1 year high of $11.45. The business’s 50 day simple moving average is $7.48 and its 200-day simple moving average is $7.66.

Solid Biosciences (NASDAQ:SLDB) last released its earnings results on Wednesday, November 4th. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.05. As a group, sell-side analysts anticipate that Solid Biosciences will post -1.65 earnings per share for the current year.

Hedge Funds Weigh In On Solid Biosciences

Large investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Solid Biosciences in the third quarter valued at approximately $40,000. China Universal Asset Management Co. Ltd. boosted its holdings in Solid Biosciences by 24.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 19,564 shares of the company’s stock worth $140,000 after buying an additional 3,896 shares during the period. AXQ Capital LP bought a new position in Solid Biosciences in the 2nd quarter worth approximately $197,000. Hsbc Holdings PLC grew its stake in Solid Biosciences by 78.4% in the 1st quarter. Hsbc Holdings PLC now owns 39,511 shares of the company’s stock valued at $284,000 after buying an additional 17,360 shares in the last quarter. Finally, Engineers Gate Manager LP grew 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 buying an additional 7,410 shares in the last quarter. Hedge funds and other institutional investors own 81.46% of the company’s stock.

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.