Solid Biosciences (NASDAQ:SLDB) Trading Down 4.9% – What’s Next?

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) dropped 4.9% during mid-day trading on Monday . The company traded as low as $5.03 and last traded at $5.16. Approximately 377,782 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 2,873,468 shares. The stock had previously closed at $5.42.

Wall Street Analyst Weigh In

SLDB has been the topic of several recent research reports. JMP Securities started coverage on shares of Solid Biosciences in a research report on Tuesday, December 10th. They set an “outperform” rating and a $15.00 price target on the stock. Citizens Jmp raised shares of Solid Biosciences to a “strong-buy” rating in a research note on Tuesday, December 10th. Wedbush started coverage on shares of Solid Biosciences in a research report on Friday, December 13th. They set an “outperform” rating and a $16.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a research note on Friday. Nine investment analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Solid Biosciences presently has a consensus rating of “Buy” and a consensus target price of $15.80.

Solid Biosciences Stock Performance

The company has a market cap of $388.46 million, a price-to-earnings ratio of -1.67 and a beta of 1.98. The business has a 50-day simple moving average of $4.07 and a 200-day simple moving average of $5.53.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in shares of Solid Biosciences by 9,393.8% during the 4th quarter. JPMorgan Chase & Co. now owns 955,932 shares of the company’s stock worth $3,824,000 after purchasing an additional 945,863 shares during the last quarter. Redmile Group LLC purchased a new stake in Solid Biosciences during the 4th quarter worth about $2,461,000. Point72 Asset Management L.P. boosted its position in shares of Solid Biosciences by 292.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company’s stock worth $3,088,000 after acquiring an additional 330,234 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Solid Biosciences by 270.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 264,069 shares of the company’s stock valued at $1,056,000 after acquiring an additional 192,714 shares during the last quarter. Finally, Trexquant Investment LP raised its position in shares of Solid Biosciences by 256.9% during the 4th quarter. Trexquant Investment LP now owns 194,281 shares of the company’s stock worth $777,000 after acquiring an additional 139,851 shares in the last quarter. Institutional investors and hedge funds own 81.46% of the company’s stock.

About Solid Biosciences

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.