Solid Biosciences Inc. (NASDAQ:SLDB) Receives $15.67 Average Price Target from Analysts

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have been assigned a consensus rating of “Buy” from the twelve ratings firms that are covering the firm, MarketBeat reports. Eight analysts have rated the stock with a buy recommendation and four have issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $15.67.

Several equities analysts have commented on SLDB shares. Chardan Capital reaffirmed a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a report on Friday, March 7th. JPMorgan Chase & Co. reduced their price target on shares of Solid Biosciences from $12.00 to $11.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Truist Financial started coverage on Solid Biosciences in a report on Wednesday, January 8th. They issued a “buy” rating and a $16.00 target price on the stock. HC Wainwright lifted their price objective on Solid Biosciences from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Finally, Wedbush began coverage on shares of Solid Biosciences in a research report on Friday, December 13th. They set an “outperform” rating and a $16.00 target price on the stock.

Hedge Funds Weigh In On Solid Biosciences

Hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its stake in shares of Solid Biosciences by 4.0% in the 4th quarter. Wellington Management Group LLP now owns 124,551 shares of the company’s stock valued at $498,000 after acquiring an additional 4,747 shares during the last quarter. Vestal Point Capital LP grew its holdings in Solid Biosciences by 1.8% during the fourth quarter. Vestal Point Capital LP now owns 2,850,000 shares of the company’s stock valued at $11,400,000 after purchasing an additional 50,000 shares during the period. Redmile Group LLC bought a new stake in Solid Biosciences in the fourth quarter valued at approximately $2,461,000. D. E. Shaw & Co. Inc. acquired a new stake in Solid Biosciences in the fourth quarter worth $208,000. Finally, Corton Capital Inc. bought a new position in shares of Solid Biosciences during the fourth quarter worth $41,000. Institutional investors and hedge funds own 81.46% of the company’s stock.

Solid Biosciences Stock Up 2.6 %

Shares of NASDAQ SLDB opened at $2.74 on Monday. The business’s 50 day moving average is $4.39 and its two-hundred day moving average is $4.84. The company has a market cap of $212.33 million, a P/E ratio of -0.90 and a beta of 2.07. Solid Biosciences has a 12 month low of $2.48 and a 12 month high of $11.28.

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.