Citigroup Cuts Solid Biosciences (NASDAQ:SLDB) Price Target to $14.00

Solid Biosciences (NASDAQ:SLDB) had its price objective lowered by Citigroup from $16.00 to $14.00 in a research report released on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts have also recently commented on the company. Wedbush lowered their price target on Solid Biosciences from $17.00 to $14.00 and set an “outperform” rating for the company in a research note on Wednesday, August 13th. Wall Street Zen cut shares of Solid Biosciences from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Chardan Capital reiterated a “buy” rating and issued a $15.00 target price on shares of Solid Biosciences in a report on Tuesday. JPMorgan Chase & Co. decreased their price target on shares of Solid Biosciences from $13.00 to $11.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Cantor Fitzgerald set a $16.00 price objective on shares of Solid Biosciences and gave the company an “overweight” rating in a research report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $14.70.

Solid Biosciences Stock Performance

SLDB opened at $4.06 on Wednesday. The company has a fifty day moving average price of $5.56 and a two-hundred day moving average price of $5.05. The firm has a market capitalization of $316.31 million, a PE ratio of -1.63 and a beta of 2.75. Solid Biosciences has a 52 week low of $2.41 and a 52 week high of $7.37.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings results on Monday, November 3rd. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.06). Equities analysts forecast that Solid Biosciences will post -2.84 EPS for the current year.

Institutional Trading of Solid Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC boosted its position in shares of Solid Biosciences by 15,188.5% during the first quarter. CWM LLC now owns 7,950 shares of the company’s stock worth $29,000 after buying an additional 7,898 shares during the period. Legal & General Group Plc raised its position in Solid Biosciences by 208.6% in the 2nd quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock valued at $29,000 after buying an additional 4,063 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in Solid Biosciences by 205.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company’s stock valued at $33,000 after acquiring an additional 4,534 shares in the last quarter. Ground Swell Capital LLC acquired a new position in Solid Biosciences during the 1st quarter worth approximately $42,000. Finally, Pallas Capital Advisors LLC acquired a new position in Solid Biosciences during the 2nd quarter worth approximately $54,000. Institutional investors and hedge funds own 81.46% of the company’s stock.

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.