Solid Biosciences (NASDAQ:SLDB) Price Target Lowered to $12.00 at JPMorgan Chase & Co.

Solid Biosciences (NASDAQ:SLDB) had its target price trimmed by JPMorgan Chase & Co. from $15.00 to $12.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities analysts also recently commented on SLDB. Barclays cut their target price on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 14th. Chardan Capital reaffirmed a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a report on Monday, November 11th. HC Wainwright reissued a “buy” rating and set a $16.00 price objective on shares of Solid Biosciences in a report on Thursday, November 7th. Finally, William Blair raised shares of Solid Biosciences to a “strong-buy” rating in a report on Friday, August 30th. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Solid Biosciences currently has a consensus rating of “Buy” and a consensus price target of $15.14.

Solid Biosciences Stock Performance

Shares of SLDB stock opened at $4.85 on Tuesday. Solid Biosciences has a one year low of $2.21 and a one year high of $15.05. The company has a 50 day moving average price of $6.54 and a 200 day moving average price of $7.64. The firm has a market capitalization of $193.81 million, a price-to-earnings ratio of -1.60 and a beta of 1.92.

Solid Biosciences (NASDAQ:SLDB) last issued its earnings results on Wednesday, November 6th. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.12). As a group, equities analysts forecast that Solid Biosciences will post -2.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its position in Solid Biosciences by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 70,827 shares of the company’s stock valued at $402,000 after purchasing an additional 5,287 shares during the last quarter. MetLife Investment Management LLC lifted its position in Solid Biosciences by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 13,699 shares of the company’s stock valued at $95,000 after purchasing an additional 7,719 shares during the last quarter. American Century Companies Inc. lifted its position in Solid Biosciences by 39.9% in the 2nd quarter. American Century Companies Inc. now owns 34,557 shares of the company’s stock valued at $196,000 after purchasing an additional 9,853 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in Solid Biosciences in the 3rd quarter valued at about $71,000. Finally, Point72 DIFC Ltd bought a new stake in shares of Solid Biosciences during the 2nd quarter worth about $58,000. 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.