Solid Biosciences (NASDAQ:SLDB) Stock Price Down 4.9% – What’s Next?

Solid Biosciences Inc. (NASDAQ:SLDB) shares traded down 4.9% during trading on Monday . The company traded as low as $5.03 and last traded at $5.16. 377,782 shares changed hands during trading, a decline of 87% from the average session volume of 2,873,468 shares. The stock had previously closed at $5.42.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SLDB shares. HC Wainwright lifted their price objective on shares of Solid Biosciences from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Monday. Citizens Jmp upgraded shares of Solid Biosciences to a “strong-buy” rating in a research report on Tuesday, December 10th. Truist Financial assumed coverage on shares of Solid Biosciences in a report on Wednesday, January 8th. They issued a “buy” rating and a $16.00 price objective for the company. JPMorgan Chase & Co. dropped their target price on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Finally, JMP Securities initiated coverage on Solid Biosciences in a research report on Tuesday, December 10th. They set an “outperform” rating and a $15.00 price target on the stock. Nine investment analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $15.80.

Solid Biosciences Trading Up 10.2 %

The firm has a 50-day simple moving average of $4.12 and a two-hundred day simple moving average of $5.47. The company has a market capitalization of $428.15 million, a price-to-earnings ratio of -1.85 and a beta of 1.98.

Hedge Funds Weigh In On Solid Biosciences

A number of hedge funds have recently added to or reduced their stakes in SLDB. JPMorgan Chase & Co. grew its position in Solid Biosciences by 9,393.8% in the fourth quarter. JPMorgan Chase & Co. now owns 955,932 shares of the company’s stock worth $3,824,000 after acquiring an additional 945,863 shares in the last quarter. Redmile Group LLC acquired a new stake in shares of Solid Biosciences in the 4th quarter valued at $2,461,000. Point72 Asset Management L.P. boosted its holdings in Solid Biosciences by 292.8% in the third quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company’s stock worth $3,088,000 after purchasing an additional 330,234 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Solid Biosciences by 270.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 264,069 shares of the company’s stock worth $1,056,000 after purchasing an additional 192,714 shares in the last quarter. Finally, Trexquant Investment LP increased its position in Solid Biosciences by 256.9% during the fourth quarter. Trexquant Investment LP now owns 194,281 shares of the company’s stock worth $777,000 after buying an additional 139,851 shares during the last quarter. Institutional investors and hedge funds own 81.46% of the company’s stock.

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.