HC Wainwright Issues Positive Forecast for Solid Biosciences (NASDAQ:SLDB) Stock Price

Solid Biosciences (NASDAQ:SLDB) had its price target lifted by HC Wainwright from $16.00 to $20.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts also recently weighed in on SLDB. Citizens Jmp raised shares of Solid Biosciences to a “strong-buy” rating in a research note on Tuesday, December 10th. Truist Financial began coverage on Solid Biosciences in a report on Wednesday, January 8th. They set a “buy” rating and a $16.00 target price for the company. Wedbush initiated coverage on Solid Biosciences in a report on Friday, December 13th. They set an “outperform” rating and a $16.00 target price for the company. JPMorgan Chase & Co. decreased their price target on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Finally, Chardan Capital restated a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a report on Friday. Nine equities 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 data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $15.80.

Solid Biosciences Stock Down 6.1 %

Solid Biosciences stock opened at $5.09 on Monday. Solid Biosciences has a 52 week low of $2.88 and a 52 week high of $15.05. The firm’s 50-day simple moving average is $4.07 and its 200 day simple moving average is $5.53. The firm has a market capitalization of $388.46 million, a PE ratio of -1.67 and a beta of 1.98.

Institutional Investors Weigh In On Solid Biosciences

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in shares of Solid Biosciences by 9,393.8% during the fourth quarter. JPMorgan Chase & Co. now owns 955,932 shares of the company’s stock valued at $3,824,000 after purchasing an additional 945,863 shares in the last quarter. Redmile Group LLC bought a new stake in shares of Solid Biosciences during the fourth quarter valued at about $2,461,000. Point72 Asset Management L.P. raised its stake in shares of Solid Biosciences by 292.8% during the third quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company’s stock valued at $3,088,000 after purchasing an additional 330,234 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Solid Biosciences by 270.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 264,069 shares of the company’s stock valued at $1,056,000 after purchasing an additional 192,714 shares in the last quarter. Finally, Trexquant Investment LP raised its stake in shares of Solid Biosciences by 256.9% during the fourth quarter. Trexquant Investment LP now owns 194,281 shares of the company’s stock valued at $777,000 after purchasing an additional 139,851 shares in 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.