Solid Biosciences (NASDAQ:SLDB) Trading 9.6% Higher – Should You Buy?

Solid Biosciences Inc. (NASDAQ:SLDB) shares traded up 9.6% on Thursday . The stock traded as high as $7.15 and last traded at $7.2430. 746,351 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 1,215,304 shares. The stock had previously closed at $6.61.

Analyst Ratings Changes

A number of research firms recently commented on SLDB. HC Wainwright increased their target price on shares of Solid Biosciences from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. increased their target price on shares of Solid Biosciences from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Wednesday, March 25th. Chardan Capital reissued a “buy” rating and set a $15.00 target price on shares of Solid Biosciences in a research report on Friday, March 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Biosciences in a research report on Tuesday, April 21st. Finally, Guggenheim started coverage on shares of Solid Biosciences in a research report on Friday, March 20th. They set a “buy” rating and a $26.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Solid Biosciences presently has an average rating of “Moderate Buy” and an average price target of $17.00.

Solid Biosciences Stock Performance

The firm has a market cap of $702.93 million, a price-to-earnings ratio of -3.66 and a beta of 2.43. The stock’s 50 day simple moving average is $7.37 and its 200-day simple moving average is $6.59.

Solid Biosciences (NASDAQ:SLDB) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.12). On average, analysts expect that Solid Biosciences Inc. will post -1.9 EPS for the current fiscal year.

Institutional Trading of Solid Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. MetLife Investment Management LLC increased its stake in shares of Solid Biosciences by 10.4% in the fourth quarter. MetLife Investment Management LLC now owns 33,202 shares of the company’s stock worth $187,000 after acquiring an additional 3,124 shares during the period. Quantum Private Wealth LLC increased its stake in shares of Solid Biosciences by 3.9% in the third quarter. Quantum Private Wealth LLC now owns 94,231 shares of the company’s stock worth $581,000 after acquiring an additional 3,500 shares during the period. Legal & General Group Plc increased its stake in shares of Solid Biosciences by 208.6% in the second quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock worth $29,000 after acquiring an additional 4,063 shares during the period. Intech Investment Management LLC increased its stake in shares of Solid Biosciences by 15.2% in the fourth quarter. Intech Investment Management LLC now owns 34,485 shares of the company’s stock worth $194,000 after acquiring an additional 4,539 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Solid Biosciences by 142.0% in the third quarter. Russell Investments Group Ltd. now owns 10,211 shares of the company’s stock worth $63,000 after acquiring an additional 5,991 shares during the period. Institutional investors and hedge funds own 81.46% of the company’s stock.

About Solid Biosciences

Solid Biosciences Inc is a clinical‐stage biotechnology company focused on the development of therapies for Duchenne muscular dystrophy (DMD), a rare genetic disorder characterized by progressive muscle degeneration. The company’s primary approach centers on gene replacement and gene editing technologies designed to restore functional dystrophin protein in patients lacking this critical muscle‐stabilizing protein.

Solid’s lead investigational therapy, SGT‐001, is a micro‐dystrophin gene therapy candidate engineered to deliver a shortened but functional form of the dystrophin gene using an adeno‐associated virus (AAV) vector.