Wedbush Issues Pessimistic Forecast for Solid Biosciences (NASDAQ:SLDB) Stock Price

Solid Biosciences (NASDAQ:SLDB) had its price target lowered by investment analysts at Wedbush from $18.00 to $17.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock.

SLDB has been the subject of a number of other reports. JPMorgan Chase & Co. lowered their price target on shares of Solid Biosciences from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Chardan Capital reissued a “buy” rating and issued a $16.00 target price on shares of Solid Biosciences in a research note on Friday, March 7th. HC Wainwright raised their target price on Solid Biosciences from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Finally, Cantor Fitzgerald raised Solid Biosciences to a “strong-buy” rating in a research note on Tuesday, May 13th. Nine investment analysts have rated the stock with a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $14.89.

Solid Biosciences Trading Up 6.9%

SLDB opened at $2.77 on Friday. The stock has a 50-day moving average price of $3.52 and a 200-day moving average price of $4.20. Solid Biosciences has a 12-month low of $2.41 and a 12-month high of $10.37. The stock has a market capitalization of $214.68 million, a P/E ratio of -0.91 and a beta of 2.32.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings data on Thursday, May 15th. The company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.06). On average, equities research analysts predict that Solid Biosciences will post -2.84 EPS for the current year.

Institutional Trading of Solid Biosciences

Several large investors have recently bought and sold shares of the company. Bain Capital Life Sciences Investors LLC boosted its position in Solid Biosciences by 96.1% during the 1st quarter. Bain Capital Life Sciences Investors LLC now owns 7,911,669 shares of the company’s stock valued at $29,273,000 after acquiring an additional 3,877,087 shares in the last quarter. Siren L.L.C. boosted its position in shares of Solid Biosciences by 97.8% in the 1st quarter. Siren L.L.C. now owns 7,415,905 shares of the company’s stock worth $27,439,000 after purchasing an additional 3,666,864 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Solid Biosciences by 285.0% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 6,729,484 shares of the company’s stock worth $24,899,000 after purchasing an additional 4,981,400 shares in the last quarter. Vestal Point Capital LP boosted its position 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 worth $11,400,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Redmile Group LLC boosted its position in shares of Solid Biosciences by 228.2% in the 1st quarter. Redmile Group LLC now owns 2,019,171 shares of the company’s stock worth $7,471,000 after purchasing an additional 1,403,925 shares in the last quarter. 81.46% of the stock is owned by institutional investors.

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.