Solid Biosciences Inc. (NASDAQ:SLDB) Receives Consensus Rating of “Buy” from Brokerages

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have been given an average rating of “Buy” by the thirteen analysts that are covering the stock, MarketBeat.com reports. Nine research analysts have rated the stock with a buy recommendation and four have issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $15.80.

Several research firms have recently issued reports on SLDB. JMP Securities started coverage on shares of Solid Biosciences in a report on Tuesday, December 10th. They set an “outperform” rating and a $15.00 target price for the company. Wedbush assumed coverage on shares of Solid Biosciences in a research report on Friday, December 13th. They set an “outperform” rating and a $16.00 price target for the company. Citizens Jmp raised shares of Solid Biosciences to a “strong-buy” rating in a research report on Tuesday, December 10th. Truist Financial assumed coverage on shares of Solid Biosciences in a research report on Wednesday, January 8th. They issued a “buy” rating and a $16.00 target price for the company. Finally, HC Wainwright lifted their target price on shares of Solid Biosciences from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday.

Institutional Investors Weigh In On Solid Biosciences

A number of hedge funds have recently modified their holdings of the business. Vestal Point Capital LP grew its position in shares of Solid Biosciences by 1.8% during 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 period. Redmile Group LLC purchased a new position in shares of Solid Biosciences during the 4th quarter valued at $2,461,000. D. E. Shaw & Co. Inc. purchased a new position in shares of Solid Biosciences during the 4th quarter valued at $208,000. Corton Capital Inc. purchased a new position in shares of Solid Biosciences during the 4th quarter valued at $41,000. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of Solid Biosciences by 479.4% during the 4th quarter. Cubist Systematic Strategies LLC now owns 65,613 shares of the company’s stock valued at $262,000 after buying an additional 54,288 shares in the last quarter. Institutional investors own 81.46% of the company’s stock.

Solid Biosciences Price Performance

Shares of SLDB opened at $5.73 on Thursday. The company has a 50-day simple moving average of $4.12 and a two-hundred day simple moving average of $5.47. Solid Biosciences has a one year low of $2.88 and a one year high of $15.05. The firm has a market capitalization of $437.31 million, a PE ratio of -1.88 and a beta of 1.98.

Solid Biosciences Company Profile

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.