Solid Biosciences (NASDAQ:SLDB) Upgraded at Wall Street Zen

Solid Biosciences (NASDAQ:SLDB) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

SLDB has been the topic of several other research reports. Wedbush decreased their price target on Solid Biosciences from $17.00 to $14.00 and set an “outperform” rating on the stock in a research note on Wednesday. JMP Securities restated a “market outperform” rating and set a $15.00 price objective on shares of Solid Biosciences in a research report on Friday, June 6th. JPMorgan Chase & Co. cut their price objective on Solid Biosciences from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Thursday. Piper Sandler cut 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. Finally, Chardan Capital restated a “buy” rating and set a $15.00 price objective on shares of Solid Biosciences in a research report on Thursday. One analyst has rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $15.00.

Solid Biosciences Price Performance

Shares of NASDAQ:SLDB opened at $6.11 on Friday. The business’s 50 day simple moving average is $5.62 and its 200-day simple moving average is $4.43. The firm has a market capitalization of $475.79 million, a price-to-earnings ratio of -2.18 and a beta of 2.44. Solid Biosciences has a 12 month low of $2.41 and a 12 month high of $10.37.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Bain Capital Life Sciences Investors LLC increased its holdings in shares of 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 worth $29,273,000 after buying an additional 3,877,087 shares during the last quarter. Siren L.L.C. increased its holdings in shares of Solid Biosciences by 97.8% during the 1st quarter. Siren L.L.C. now owns 7,415,905 shares of the company’s stock worth $27,439,000 after buying an additional 3,666,864 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in shares of Solid Biosciences by 285.0% during 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 buying an additional 4,981,400 shares during the last quarter. Vestal Point Capital LP increased its holdings 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 worth $11,400,000 after buying an additional 50,000 shares during the last quarter. Finally, Redmile Group LLC increased its holdings in shares of Solid Biosciences by 228.2% during the 1st quarter. Redmile Group LLC now owns 2,019,171 shares of the company’s stock worth $7,471,000 after buying an additional 1,403,925 shares during the last quarter. 81.46% of the stock is currently owned by institutional investors and hedge funds.

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.