Solid Biosciences (NASDAQ:SLDB – Free Report) had its price objective hoisted by Cantor Fitzgerald from $16.00 to $26.00 in a report published on Thursday morning, MarketBeat Ratings reports. They currently have an overweight rating on the stock.
Several other equities analysts have also issued reports on SLDB. Truist Financial lifted their target price on Solid Biosciences from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, August 21st. Piper Sandler restated an “overweight” rating and issued a $18.00 price target (up from $17.00) on shares of Solid Biosciences in a report on Wednesday, May 13th. Wall Street Zen raised shares of Solid Biosciences from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 4th. Wedbush reduced their price objective on shares of Solid Biosciences from $17.00 to $16.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Biosciences in a research report on Friday, July 17th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Solid Biosciences currently has an average rating of “Moderate Buy” and an average price target of $18.18.
Read Our Latest Stock Report on SLDB
Solid Biosciences Stock Down 3.6%
Solid Biosciences (NASDAQ:SLDB – Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.08. Analysts anticipate that Solid Biosciences will post -1.67 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc boosted its holdings in Solid Biosciences by 208.6% in the second quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock worth $29,000 after acquiring an additional 4,063 shares in the last quarter. Creative Planning acquired a new position in shares of Solid Biosciences during the second quarter valued at about $57,000. Russell Investments Group Ltd. increased its holdings in shares of Solid Biosciences by 142.0% during the third quarter. Russell Investments Group Ltd. now owns 10,211 shares of the company’s stock valued at $63,000 after acquiring an additional 5,991 shares in the last quarter. Polymer Capital Management US LLC purchased a new position in shares of Solid Biosciences in the 3rd quarter valued at approximately $94,000. Finally, Jain Global LLC purchased a new position in shares of Solid Biosciences in the 4th quarter valued at approximately $114,000. 81.46% of the stock is owned by institutional investors and hedge funds.
About Solid Biosciences
Solid Biosciences Inc is a clinical‐stage biotechnology company focused on the development of therapies for Duchenne muscular dystrophy (DMD), a rare genetic disorder characterized by progressive muscle degeneration. The company’s primary approach centers on gene replacement and gene editing technologies designed to restore functional dystrophin protein in patients lacking this critical muscle‐stabilizing protein.
Solid’s lead investigational therapy, SGT‐001, is a micro‐dystrophin gene therapy candidate engineered to deliver a shortened but functional form of the dystrophin gene using an adeno‐associated virus (AAV) vector.
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