Solid Biosciences (NASDAQ:SLDB) Trading Down 1.1% – Here’s Why

by · The Markets Daily

Solid Biosciences Inc. (NASDAQ:SLDB – Get Free Report)’s share price fell 1.1% during trading on Thursday . The stock traded as low as $5.52 and last traded at $5.69. 138,604 shares were traded during mid-day trading, a decline of 95% from the average session volume of 2,947,261 shares. The stock had previously closed at $5.76.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SLDB. Chardan Capital reaffirmed a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a research note on Friday. JPMorgan Chase & Co. decreased their target price on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. HC Wainwright reissued a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a research note on Friday, January 10th. Wedbush initiated coverage on Solid Biosciences in a research note on Friday, December 13th. They set an “outperform” rating and a $16.00 target price on the stock. Finally, Citizens Jmp raised Solid Biosciences to a “strong-buy” rating in a research note on Tuesday, December 10th. Nine research analysts have rated the stock with a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, Solid Biosciences currently has a consensus rating of “Buy” and an average price target of $15.40.

Read Our Latest Stock Analysis on SLDB

Solid Biosciences Stock Performance

The firm has a market capitalization of $413.65 million, a price-to-earnings ratio of -1.78 and a beta of 2.01. The firm has a fifty day moving average price of $4.04 and a 200 day moving average price of $5.61.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vestal Point Capital LP lifted its stake in shares of Solid Biosciences by 1.8% during the fourth 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. JPMorgan Chase & Co. lifted its stake in shares of Solid Biosciences by 9,393.8% in the fourth quarter. JPMorgan Chase & Co. now owns 955,932 shares of the company’s stock worth $3,824,000 after acquiring an additional 945,863 shares in the last quarter. Redmile Group LLC acquired a new position in shares of Solid Biosciences in the fourth quarter worth about $2,461,000. Geode Capital Management LLC lifted its stake in shares of Solid Biosciences by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 509,802 shares of the company’s stock worth $2,040,000 after acquiring an additional 4,932 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in shares of Solid Biosciences by 292.8% in the third quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company’s stock worth $3,088,000 after acquiring an additional 330,234 shares in the last quarter. Institutional investors and hedge funds own 81.46% of the company’s stock.

Solid Biosciences Company Profile

(Get Free Report)

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.

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