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

Solid Biosciences (NASDAQ:SLDB) had its target price reduced by JPMorgan Chase & Co. from $15.00 to $12.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also recently issued reports about the stock. Chardan Capital restated a “buy” rating and set a $15.00 target price on shares of Solid Biosciences in a research report on Monday. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Solid Biosciences in a research note on Thursday, November 7th. William Blair raised Solid Biosciences to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Barclays lowered their price target on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $15.14.

Solid Biosciences Trading Down 8.0 %

Shares of Solid Biosciences stock opened at $5.51 on Tuesday. Solid Biosciences has a 12 month low of $2.00 and a 12 month high of $15.05. The stock has a 50 day moving average of $6.73 and a 200 day moving average of $7.70. The firm has a market cap of $220.18 million, a PE ratio of -1.81 and a beta of 1.92.

Solid Biosciences (NASDAQ:SLDB) last posted 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 research analysts forecast that Solid Biosciences will post -2.75 earnings per share for the current fiscal year.

Institutional Trading of Solid Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in SLDB. Vanguard Group Inc. increased its stake in Solid Biosciences by 283.9% in the 1st quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock worth $16,578,000 after buying an additional 920,404 shares during the period. Bain Capital Life Sciences Investors LLC raised its stake in shares of Solid Biosciences by 28.9% during the first quarter. Bain Capital Life Sciences Investors LLC now owns 4,034,582 shares of the company’s stock valued at $53,741,000 after acquiring an additional 904,160 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Solid Biosciences in the first quarter valued at approximately $23,935,000. Artal Group S.A. grew its stake in Solid Biosciences by 175.0% in the first quarter. Artal Group S.A. now owns 2,500,000 shares of the company’s stock worth $33,300,000 after purchasing an additional 1,590,781 shares in the last quarter. Finally, RA Capital Management L.P. increased its holdings in Solid Biosciences by 26.4% during the 1st quarter. RA Capital Management L.P. now owns 4,330,446 shares of the company’s stock worth $57,682,000 after purchasing an additional 904,160 shares during the period. 81.46% of the stock is currently owned by institutional investors.

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.