Shares of Solid Biosciences Inc. (NASDAQ:SLDB – Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $9.78 and last traded at $9.8040, with a volume of 248058 shares changing hands. The stock had previously closed at $9.47.
Analysts Set New Price Targets
SLDB has been the topic of a number of recent research reports. Wall Street Zen lowered Solid Biosciences from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Truist Financial raised shares of Solid Biosciences to a “strong-buy” rating in a research report on Monday, April 27th. Needham & Company LLC restated a “buy” rating and set a $19.00 price objective on shares of Solid Biosciences in a research report on Friday, March 20th. Guggenheim initiated coverage on shares of Solid Biosciences in a report on Friday, March 20th. They issued a “buy” rating and a $26.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of Solid Biosciences from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Wednesday, March 25th. One investment 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’s stock. According to data from MarketBeat.com, Solid Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.
View Our Latest Report on SLDB
Solid Biosciences Stock Performance
Solid Biosciences (NASDAQ:SLDB – Get Free Report) last posted 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). As a group, analysts anticipate that Solid Biosciences Inc. will post -1.9 earnings per share for the current year.
Institutional Investors Weigh In On Solid Biosciences
A number of institutional investors have recently modified their holdings of SLDB. Janus Henderson Group PLC purchased a new stake in shares of Solid Biosciences in the 1st quarter valued at $28,877,000. Vestal Point Capital LP boosted its holdings in Solid Biosciences by 95.5% during the 4th quarter. Vestal Point Capital LP now owns 5,815,000 shares of the company’s stock valued at $32,797,000 after acquiring an additional 2,840,000 shares during the period. Armistice Capital LLC grew its position in Solid Biosciences by 179.1% in the 4th quarter. Armistice Capital LLC now owns 2,612,000 shares of the company’s stock valued at $14,732,000 after acquiring an additional 1,676,000 shares in the last quarter. Nantahala Capital Management LLC increased its stake in Solid Biosciences by 505.4% during the second quarter. Nantahala Capital Management LLC now owns 1,703,336 shares of the company’s stock worth $8,295,000 after purchasing an additional 1,421,968 shares during the period. Finally, Monashee Investment Management LLC purchased a new stake in Solid Biosciences during the fourth quarter worth about $7,613,000. 81.46% of the stock is owned by institutional investors and hedge funds.
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.
Featured Articles
- Five stocks we like better than Solid Biosciences
- The Quantum Bubble Is Real Enough to Take Seriously
- Why Wall Street Still Sees Massive Upside for AeroVironment Stock
- Why AppLovin’s CEO Is Selling While Quantum Insiders Are Buying
- Volkswagen’s 16-Year Low Masks a Massive Margin Engine
Receive News & Ratings for Solid Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Solid Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.
