Solid Biosciences Inc. (NASDAQ:SLDB – Get Free Report)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $9.19 and last traded at $8.79, with a volume of 3142441 shares. The stock had previously closed at $8.30.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the stock. Piper Sandler reiterated 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. Weiss Ratings restated a “sell (d-)” rating on shares of Solid Biosciences in a research note on Tuesday, April 21st. Chardan Capital reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Solid Biosciences in a report on Friday, March 20th. Guggenheim started coverage on shares of Solid Biosciences in a report on Friday, March 20th. They set a “buy” rating and a $26.00 target price for the company. Finally, Truist Financial upgraded shares of Solid Biosciences to a “strong-buy” rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Solid Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $17.00.
Read Our Latest Stock Analysis on Solid Biosciences
Solid Biosciences Price Performance
Solid Biosciences (NASDAQ:SLDB – Get Free Report) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.12). On average, analysts forecast that Solid Biosciences Inc. will post -1.9 EPS for the current year.
Hedge Funds Weigh In On Solid Biosciences
A number of large investors have recently bought and sold shares of SLDB. Perceptive Advisors LLC grew its holdings in Solid Biosciences by 0.6% in the first quarter. Perceptive Advisors LLC now owns 11,906,646 shares of the company’s stock valued at $85,728,000 after purchasing an additional 73,107 shares during the period. Bank of America Corp DE raised its stake in shares of Solid Biosciences by 12.3% during the 1st quarter. Bank of America Corp DE now owns 386,793 shares of the company’s stock worth $2,785,000 after buying an additional 42,499 shares during the period. Stempoint Capital LP purchased a new position in shares of Solid Biosciences during the 1st quarter valued at approximately $1,407,000. Janus Henderson Group PLC purchased a new position in shares of Solid Biosciences during the 1st quarter valued at approximately $28,877,000. Finally, Ally Bridge Group NY LLC grew its stake in Solid Biosciences by 85.4% in the 1st quarter. Ally Bridge Group NY LLC now owns 766,974 shares of the company’s stock valued at $5,522,000 after acquiring an additional 353,349 shares during the period. Institutional investors and hedge funds own 81.46% of the company’s stock.
Solid Biosciences Company Profile
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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