Solid Biosciences Inc. (NASDAQ:SLDB – Get Free Report) has earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $17.40.
A number of analysts recently issued reports on SLDB shares. HC Wainwright raised their price objective on Solid Biosciences from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Biosciences in a research note on Friday, July 17th. Piper Sandler reaffirmed an “overweight” rating and set a $18.00 target price (up from $17.00) on shares of Solid Biosciences in a research note on Wednesday, May 13th. Wedbush dropped their price target on shares of Solid Biosciences from $17.00 to $16.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Finally, Truist Financial boosted their price target on shares of Solid Biosciences from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Friday.
Check Out Our Latest Stock Analysis on SLDB
Solid Biosciences Stock Performance
Solid Biosciences (NASDAQ:SLDB – Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.08. Analysts forecast that Solid Biosciences will post -1.72 EPS for the current year.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in SLDB. Legal & General Group Plc raised its holdings in shares of 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 period. Russell Investments Group Ltd. boosted its holdings in Solid Biosciences by 142.0% during the 3rd 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 during the period. California State Teachers Retirement System grew its position in Solid Biosciences by 239.5% in the 2nd quarter. California State Teachers Retirement System now owns 10,829 shares of the company’s stock valued at $1,084,000 after acquiring an additional 7,639 shares in the last quarter. Creative Planning acquired a new position in Solid Biosciences in the 2nd quarter valued at about $57,000. Finally, Polymer Capital Management US LLC purchased a new stake in Solid Biosciences during the third quarter worth about $94,000. 81.46% of the stock is currently 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.
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