Solid Biosciences (NASDAQ:SLDB) Trading Down 3.1% – Here’s Why

by · The Markets Daily

Solid Biosciences Inc. (NASDAQ:SLDB – Get Free Report)’s share price was down 3.1% during mid-day trading on Tuesday . The company traded as low as $4.87 and last traded at $4.93. Approximately 247,739 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 2,847,080 shares. The stock had previously closed at $5.09.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SLDB shares. JPMorgan Chase & Co. reduced their price target on shares of Solid Biosciences from $12.00 to $11.00 and set an “overweight” rating on the stock in a research note on Thursday. Chardan Capital reissued a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a research note on Friday, March 7th. Wedbush began coverage on shares of Solid Biosciences in a research note on Friday, December 13th. They set an “outperform” rating and a $16.00 target price on the stock. Truist Financial began coverage on shares of Solid Biosciences in a research note on Wednesday, January 8th. They set a “buy” rating and a $16.00 target price on the stock. Finally, JMP Securities began coverage on shares of Solid Biosciences in a research note on Tuesday, December 10th. They set an “outperform” rating and a $15.00 target price on the stock. Nine investment analysts have rated the stock with a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $15.70.

Get Our Latest Report on Solid Biosciences

Solid Biosciences Trading Down 10.3 %

The company has a market cap of $398.31 million, a price-to-earnings ratio of -1.69 and a beta of 1.98. The firm’s fifty day simple moving average is $4.15 and its 200 day simple moving average is $5.47.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vestal Point Capital LP boosted its holdings 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 valued at $11,400,000 after buying an additional 50,000 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Solid Biosciences by 9,393.8% in the 4th quarter. JPMorgan Chase & Co. now owns 955,932 shares of the company’s stock valued at $3,824,000 after buying an additional 945,863 shares in the last quarter. Redmile Group LLC acquired a new position in shares of Solid Biosciences in the 4th quarter valued at $2,461,000. Geode Capital Management LLC boosted its holdings in shares of 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 buying an additional 4,932 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Solid Biosciences by 292.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company’s stock valued at $3,088,000 after buying 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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