Solid Biosciences Inc. (NASDAQ:SLDB) Given Average Rating of “Buy” by Brokerages

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have received a consensus rating of “Buy” from the twelve ratings firms that are presently covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy rating and four have given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $15.67.

Several research analysts recently weighed in on SLDB shares. HC Wainwright boosted their price objective on shares of Solid Biosciences from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Chardan Capital restated a “buy” rating and issued a $16.00 price objective on shares of Solid Biosciences in a research report on Friday, March 7th. JMP Securities began coverage on shares of Solid Biosciences in a research report on Tuesday, December 10th. They set an “outperform” rating and a $15.00 target price for the company. Citizens Jmp upgraded shares of Solid Biosciences to a “strong-buy” rating in a research report on Tuesday, December 10th. Finally, Truist Financial began coverage on shares of Solid Biosciences in a research report on Wednesday, January 8th. They set a “buy” rating and a $16.00 target price for the company.

Solid Biosciences Trading Up 5.3 %

NASDAQ:SLDB opened at $5.36 on Thursday. The firm has a 50 day moving average of $4.20 and a 200-day moving average of $5.39. Solid Biosciences has a 1 year low of $2.88 and a 1 year high of $15.05. The stock has a market capitalization of $415.36 million, a P/E ratio of -1.76 and a beta of 1.98.

Hedge Funds Weigh In On Solid Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. bought a new stake in shares of Solid Biosciences in the 4th quarter valued at about $34,000. Corton Capital Inc. bought a new position in Solid Biosciences in the 4th quarter valued at about $41,000. Invesco Ltd. bought a new position in Solid Biosciences in the 4th quarter valued at about $49,000. Sei Investments Co. bought a new position in Solid Biosciences in the 4th quarter valued at about $52,000. Finally, Wells Fargo & Company MN raised its holdings in Solid Biosciences by 29.4% in the 4th quarter. Wells Fargo & Company MN now owns 13,138 shares of the company’s stock valued at $53,000 after acquiring an additional 2,986 shares during the period. 81.46% of the stock is owned by institutional investors and hedge funds.

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.