Solid Biosciences (NASDAQ:SLDB) Price Target Cut to $15.00 by Analysts at Barclays

Solid Biosciences (NASDAQ:SLDB) had its price objective reduced by Barclays from $18.00 to $15.00 in a report released on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

SLDB has been the topic of several other reports. HC Wainwright reiterated a buy rating and set a $16.00 target price on shares of Solid Biosciences in a report on Wednesday. JPMorgan Chase & Co. upgraded Solid Biosciences from a neutral rating to an overweight rating and boosted their price objective for the company from $10.00 to $15.00 in a research report on Monday, July 15th. Piper Sandler restated an overweight rating and set a $20.00 target price on shares of Solid Biosciences in a report on Friday, June 21st. SVB Leerink upgraded shares of Solid Biosciences from a market perform rating to an outperform rating and set a $12.00 price target for the company in a report on Monday, June 24th. Finally, Leerink Partnrs upgraded shares of Solid Biosciences from a hold rating to a strong-buy rating in a report on Monday, June 24th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of $15.67.

Solid Biosciences Price Performance

Shares of SLDB opened at $8.87 on Wednesday. The stock has a market cap of $342.38 million, a P/E ratio of -2.25 and a beta of 1.84. Solid Biosciences has a 1 year low of $1.81 and a 1 year high of $15.05. The stock’s 50-day moving average price is $7.61 and its two-hundred day moving average price is $9.10. The company has a current ratio of 14.94, a quick ratio of 14.94 and a debt-to-equity ratio of 0.01.

Solid Biosciences (NASDAQ:SLDB) last issued its earnings results on Tuesday, August 13th. The company reported ($0.61) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.05. On average, equities analysts predict that Solid Biosciences will post -2.71 earnings per share for the current year.

Institutional Trading of Solid Biosciences

A number of institutional investors have recently made changes to their positions in SLDB. Algert Global LLC bought a new position in Solid Biosciences in the second quarter valued at $82,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Solid Biosciences during the 2nd quarter worth about $92,000. Millennium Management LLC grew its holdings in shares of Solid Biosciences by 135.7% in the 2nd quarter. Millennium Management LLC now owns 1,728,065 shares of the company’s stock valued at $9,798,000 after acquiring an additional 994,984 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Solid Biosciences in the second quarter valued at about $412,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Solid Biosciences in the second quarter valued at about $58,000. Institutional investors own 81.46% of the company’s stock.

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.