Solid Biosciences (NASDAQ:SLDB) Stock Price Down 1.1% – What’s Next?

Solid Biosciences Inc. (NASDAQ:SLDB) shares dropped 1.1% during trading on Thursday . The stock traded as low as $5.52 and last traded at $5.69. Approximately 138,604 shares were traded during trading, a decline of 95% from the average daily volume of 2,947,261 shares. The stock had previously closed at $5.76.

Wall Street Analyst Weigh In

SLDB has been the subject of several recent research reports. Truist Financial assumed coverage on shares of Solid Biosciences in a research note on Wednesday, January 8th. They issued a “buy” rating and a $16.00 price objective for the company. Chardan Capital increased their price objective on Solid Biosciences from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. lowered their target price on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. JMP Securities assumed coverage on Solid Biosciences in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $15.00 price target on the stock. Finally, Wedbush began coverage on Solid Biosciences in a research report on Friday, December 13th. They set an “outperform” rating and a $16.00 price objective for the company. Nine equities research analysts have rated the stock with a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $15.40.

Solid Biosciences Stock Down 4.6 %

The stock has a fifty day moving average of $4.02 and a 200-day moving average of $5.61. The stock has a market capitalization of $419.37 million, a price-to-earnings ratio of -1.81 and a beta of 2.01.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SLDB. China Universal Asset Management Co. Ltd. purchased a new stake in Solid Biosciences in the fourth quarter valued at $34,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Solid Biosciences in the 3rd quarter valued at about $71,000. Corton Capital Inc. purchased a new position in Solid Biosciences during the 4th quarter worth approximately $41,000. Invesco Ltd. acquired a new position in Solid Biosciences during the fourth quarter worth approximately $49,000. Finally, Sei Investments Co. purchased a new stake in Solid Biosciences in the fourth quarter valued at approximately $52,000. 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.