Chardan Capital Reaffirms “Buy” Rating for Solid Biosciences (NASDAQ:SLDB)

Solid Biosciences (NASDAQ:SLDB)‘s stock had its “buy” rating reissued by stock analysts at Chardan Capital in a research note issued to investors on Friday,Benzinga reports. They currently have a $16.00 price target on the stock. Chardan Capital’s price target indicates a potential upside of 195.20% from the company’s current price.

Several other equities research analysts also recently commented on the company. Wedbush assumed coverage on Solid Biosciences in a report on Friday, December 13th. They set an “outperform” rating and a $16.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Truist Financial initiated coverage on Solid Biosciences in a report on Wednesday, January 8th. They set a “buy” rating and a $16.00 target price on the stock. Citizens Jmp upgraded Solid Biosciences to a “strong-buy” rating in a report on Tuesday, December 10th. Finally, JMP Securities initiated coverage on Solid Biosciences in a report on Tuesday, December 10th. They set an “outperform” rating and a $15.00 price objective on the stock. Nine research analysts have rated the stock with a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, Solid Biosciences currently has a consensus rating of “Buy” and an average target price of $15.40.

Solid Biosciences Stock Performance

Shares of NASDAQ:SLDB opened at $5.42 on Friday. The company has a market cap of $413.65 million, a P/E ratio of -1.78 and a beta of 2.01. Solid Biosciences has a one year low of $2.88 and a one year high of $15.05. The business’s 50-day simple moving average is $4.07 and its 200 day simple moving average is $5.58.

Institutional Investors Weigh In On Solid Biosciences

A number of institutional investors have recently made changes to their positions in the company. Vestal Point Capital LP increased its holdings in shares of Solid Biosciences by 1.8% in the 4th quarter. Vestal Point Capital LP now owns 2,850,000 shares of the company’s stock valued at $11,400,000 after acquiring an additional 50,000 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Solid Biosciences by 9,393.8% in the 4th quarter. JPMorgan Chase & Co. now owns 955,932 shares of the company’s stock valued at $3,824,000 after acquiring an additional 945,863 shares during the last quarter. Redmile Group LLC bought a new stake in shares of Solid Biosciences in the 4th quarter valued at approximately $2,461,000. Geode Capital Management LLC increased its holdings in shares of Solid Biosciences by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 509,802 shares of the company’s stock valued at $2,040,000 after acquiring an additional 4,932 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in shares of Solid Biosciences by 292.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company’s stock valued at $3,088,000 after acquiring an additional 330,234 shares during the last quarter. 81.46% of the stock is currently owned by institutional investors.

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.