JPMorgan Chase & Co. Has Lowered Expectations for Solid Biosciences (NASDAQ:SLDB) Stock Price

Solid Biosciences (NASDAQ:SLDB) had its target price cut by JPMorgan Chase & Co. from $12.00 to $11.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 116.11% from the stock’s current price.

Several other analysts also recently issued reports on SLDB. Citizens Jmp upgraded Solid Biosciences to a “strong-buy” rating in a research note on Tuesday, December 10th. Wedbush assumed coverage on Solid Biosciences in a research report on Friday, December 13th. They set an “outperform” rating and a $16.00 target price for the company. HC Wainwright upped their target price on Solid Biosciences from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Truist Financial assumed coverage on Solid Biosciences in a research report on Wednesday, January 8th. They set a “buy” rating and a $16.00 target price for the company. Finally, Chardan Capital reiterated a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a research report on Friday, March 7th. Nine investment analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Solid Biosciences presently has an average rating of “Buy” and an average price target of $15.70.

Solid Biosciences Price Performance

SLDB opened at $5.09 on Thursday. The business has a fifty day simple moving average of $4.18 and a 200 day simple moving average of $5.47. The company has a market capitalization of $394.44 million, a PE ratio of -1.67 and a beta of 1.98. Solid Biosciences has a 1 year low of $2.88 and a 1 year high of $15.05.

Hedge Funds Weigh In On Solid Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vestal Point Capital LP increased its holdings in Solid Biosciences by 1.8% in the 4th quarter. Vestal Point Capital LP now owns 2,850,000 shares of the company’s stock worth $11,400,000 after purchasing an additional 50,000 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Solid Biosciences by 9,393.8% in the fourth quarter. JPMorgan Chase & Co. now owns 955,932 shares of the company’s stock valued at $3,824,000 after buying an additional 945,863 shares during the period. Redmile Group LLC acquired a new stake in shares of Solid Biosciences in the fourth quarter valued at about $2,461,000. Geode Capital Management LLC increased its stake in shares of Solid Biosciences by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 509,802 shares of the company’s stock valued at $2,040,000 after buying an additional 4,932 shares during the period. Finally, Point72 Asset Management L.P. increased its stake in shares of Solid Biosciences by 292.8% in the third quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company’s stock valued at $3,088,000 after buying an additional 330,234 shares during the period. Institutional investors and hedge funds 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.