Citigroup Begins Coverage on Solid Biosciences (NASDAQ:SLDB)

Equities research analysts at Citigroup assumed coverage on shares of Solid Biosciences (NASDAQ:SLDB) in a report released on Thursday, Marketbeat Ratings reports. The firm set a “buy” rating and a $14.00 price target on the stock. Citigroup’s price target would suggest a potential upside of 196.61% from the company’s current price.

A number of other analysts have also weighed in on SLDB. Chardan Capital lowered their target price on Solid Biosciences from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, May 19th. Wedbush lowered their price objective on Solid Biosciences from $18.00 to $17.00 and set an “outperform” rating for the company in a research report on Friday, May 16th. JPMorgan Chase & Co. lowered their price objective on Solid Biosciences from $12.00 to $11.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of Solid Biosciences in a research report on Tuesday, June 17th. Finally, Piper Sandler lowered their price objective on Solid Biosciences from $20.00 to $17.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Ten equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $15.10.

Solid Biosciences Stock Performance

Shares of NASDAQ:SLDB opened at $4.72 on Thursday. Solid Biosciences has a twelve month low of $2.41 and a twelve month high of $10.37. The firm has a market cap of $365.85 million, a PE ratio of -1.58 and a beta of 2.22. The business has a fifty day moving average of $3.68 and a 200-day moving average of $3.91.

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

Hedge Funds Weigh In On Solid Biosciences

Several institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN lifted its stake in Solid Biosciences by 29.4% in the 4th quarter. Wells Fargo & Company MN now owns 13,138 shares of the company’s stock valued at $53,000 after acquiring an additional 2,986 shares in the last quarter. Rhumbline Advisers lifted its stake in Solid Biosciences by 10.5% in the 4th quarter. Rhumbline Advisers now owns 43,677 shares of the company’s stock valued at $175,000 after acquiring an additional 4,161 shares in the last quarter. Wellington Management Group LLP lifted its stake in Solid Biosciences by 4.0% in the 4th quarter. Wellington Management Group LLP now owns 124,551 shares of the company’s stock valued at $498,000 after acquiring an additional 4,747 shares in the last quarter. Geode Capital Management LLC lifted its stake in 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 in the last quarter. Finally, American Century Companies Inc. lifted its stake in Solid Biosciences by 10.6% in the 1st quarter. American Century Companies Inc. now owns 51,835 shares of the company’s stock valued at $192,000 after acquiring an additional 4,978 shares in the last quarter. 81.46% of the stock is currently owned by institutional investors and hedge funds.

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.