Solid Biosciences (NASDAQ:SLDB) Price Target Lowered to $2.00 at Piper Sandler

Solid Biosciences (NASDAQ:SLDB – Get Rating) had its target price reduced by Piper Sandler from $5.00 to $2.00 in a report issued on Wednesday, The Fly reports.

Several other research analysts also recently weighed in on SLDB. Chardan Capital dropped their target price on shares of Solid Biosciences from $17.00 to $7.00 in a research report on Thursday, April 28th. Zacks Investment Research cut shares of Solid Biosciences from a buy rating to a hold rating in a research report on Tuesday, May 3rd. Finally, SVB Leerink restated an outperform rating on shares of Solid Biosciences in a report on Wednesday, April 27th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Solid Biosciences presently has a consensus rating of Buy and an average target price of $4.31.

Shares of NASDAQ:SLDB opened at $0.55 on Wednesday. The company has a market capitalization of $61.73 million, a PE ratio of -0.76 and a beta of 1.54. The stock has a fifty day moving average of $0.93 and a 200-day moving average of $1.33. Solid Biosciences has a one year low of $0.42 and a one year high of $4.92.

Solid Biosciences (NASDAQ:SLDB – Get Rating) last released its quarterly earnings results on Wednesday, April 27th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.04). The company had revenue of $1.93 million during the quarter, compared to analyst estimates of $3.57 million. Solid Biosciences had a negative net margin of 660.25% and a negative return on equity of 37.71%. During the same quarter last year, the business earned ($0.19) EPS. As a group, research analysts expect that Solid Biosciences will post -0.77 earnings per share for the current fiscal year.

In other Solid Biosciences news, COO Joel Solomon Zev Schneider sold 30,504 shares of the stock in a transaction that occurred on Monday, March 14th. The shares were sold at an average price of $1.10, for a total value of $33,554.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 24.90% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Morgan Stanley grew its stake in shares of Solid Biosciences by 6.4% in the 2nd quarter. Morgan Stanley now owns 191,237 shares of the company’s stock valued at $701,000 after buying an additional 11,468 shares in the last quarter. Invesco Ltd. bought a new stake in Solid Biosciences in the second quarter worth approximately $73,000. Wells Fargo & Company MN increased its stake in shares of Solid Biosciences by 10.7% during the 2nd quarter. Wells Fargo & Company MN now owns 71,088 shares of the company’s stock worth $259,000 after purchasing an additional 6,900 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Solid Biosciences during the 3rd quarter valued at $85,000. Finally, BlackRock Inc. lifted its stake in shares of Solid Biosciences by 10.9% in the 3rd quarter. BlackRock Inc. now owns 4,511,695 shares of the company’s stock valued at $10,783,000 after purchasing an additional 442,960 shares during the last quarter. Institutional investors and hedge funds own 66.95% of the company’s stock.

Solid Biosciences Company Profile (Get Rating)

Solid Biosciences Inc engages in developing therapies for duchenne muscular dystrophy in the United States. The company's lead product candidate is SGT-001, a gene transfer candidate, which is in a Phase I/II clinical trial to drive functional dystrophin protein expression in patients' muscles; and SGT-003, a ext-generation gene transfer candidate for the treatment of duchenne muscular dystrophy.

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