Solid Biosciences (NASDAQ:SLDB) Price Target Cut to $13.00 by Analysts at JPMorgan Chase & Co.

Solid Biosciences (NASDAQ:SLDB) had its price objective trimmed by JPMorgan Chase & Co. from $15.00 to $13.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

SLDB has been the topic of a number of other reports. Barclays lowered their price target on shares of Solid Biosciences from $15.00 to $10.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. Wedbush lowered their price target on shares of Solid Biosciences from $17.00 to $14.00 and set an “outperform” rating on the stock in a report on Wednesday. Cantor Fitzgerald set a $16.00 price target on shares of Solid Biosciences and gave the stock an “overweight” rating in a report on Monday, July 21st. Chardan Capital lowered their price target on shares of Solid Biosciences from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Monday, May 19th. Finally, Piper Sandler lowered their price target on shares of Solid Biosciences from $20.00 to $17.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. Ten analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Solid Biosciences presently has a consensus rating of “Buy” and an average price target of $15.00.

Solid Biosciences Stock Down 7.6%

NASDAQ SLDB opened at $6.17 on Thursday. Solid Biosciences has a 52 week low of $2.41 and a 52 week high of $10.37. The company has a market cap of $480.46 million, a PE ratio of -2.20 and a beta of 2.44. The firm’s 50-day simple moving average is $5.59 and its two-hundred day simple moving average is $4.41.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.09. As a group, equities research analysts anticipate that Solid Biosciences will post -2.84 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Nantahala Capital Management LLC grew its position in Solid Biosciences by 505.4% during the second quarter. Nantahala Capital Management LLC now owns 1,703,336 shares of the company’s stock valued at $8,295,000 after acquiring an additional 1,421,968 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Solid Biosciences by 168.1% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,143 shares of the company’s stock valued at $176,000 after acquiring an additional 22,663 shares during the last quarter. Armistice Capital LLC bought a new position in Solid Biosciences during the second quarter valued at approximately $1,948,000. The Manufacturers Life Insurance Company bought a new position in Solid Biosciences during the second quarter valued at approximately $119,000. Finally, Bollard Group LLC bought a new position in Solid Biosciences during the second quarter valued at approximately $1,761,000. 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.