Solid Biosciences (NASDAQ:SLDB) Rating Lowered to Sell at Wall Street Zen

Solid Biosciences (NASDAQ:SLDB) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Sunday.

Several other analysts have also issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Solid Biosciences in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price target on shares of Solid Biosciences from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Thursday, August 14th. Wedbush lowered their price target on shares of Solid Biosciences from $17.00 to $14.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 13th. Cantor Fitzgerald set a $16.00 price target on shares of Solid Biosciences and gave the stock an “overweight” rating in a research report on Monday, July 21st. Finally, Chardan Capital restated a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Solid Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $15.00.

Solid Biosciences Stock Up 4.6%

Shares of NASDAQ SLDB opened at $6.15 on Friday. The company’s 50-day simple moving average is $5.75 and its 200-day simple moving average is $4.82. Solid Biosciences has a 52-week low of $2.41 and a 52-week high of $7.37. The firm has a market cap of $478.90 million, a price-to-earnings ratio of -2.20 and a beta of 2.53.

Solid Biosciences (NASDAQ:SLDB) last announced its earnings results on Tuesday, August 12th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.09. Equities research analysts anticipate that Solid Biosciences will post -2.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Solid Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of SLDB. China Universal Asset Management Co. Ltd. boosted its holdings in Solid Biosciences by 80.7% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 15,308 shares of the company’s stock valued at $57,000 after purchasing an additional 6,836 shares during the last quarter. CWM LLC boosted its holdings in Solid Biosciences by 15,188.5% in the 1st quarter. CWM LLC now owns 7,950 shares of the company’s stock valued at $29,000 after purchasing an additional 7,898 shares during the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of Solid Biosciences in the 1st quarter valued at approximately $100,000. XTX Topco Ltd purchased a new stake in shares of Solid Biosciences in the 1st quarter valued at approximately $151,000. Finally, Sfmg LLC purchased a new stake in shares of Solid Biosciences in the 1st quarter valued at approximately $93,000. 81.46% of the stock is currently 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.