Solid Biosciences (NASDAQ:SLDB) Price Target Raised to $20.00

Solid Biosciences (NASDAQ:SLDB) had its target price increased by stock analysts at HC Wainwright from $16.00 to $20.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 269.00% from the company’s previous close.

A number of other research firms have also commented on SLDB. Wedbush started coverage on shares of Solid Biosciences in a research report on Friday, December 13th. They set an “outperform” rating and a $16.00 price target for the company. Chardan Capital reiterated a “buy” rating and set a $16.00 price target on shares of Solid Biosciences in a research report on Friday. Citizens Jmp upgraded shares of Solid Biosciences to a “strong-buy” rating in a research report on Tuesday, December 10th. JMP Securities assumed coverage on shares of Solid Biosciences in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $15.00 target price for the company. Finally, Truist Financial began coverage on Solid Biosciences in a research report on Wednesday, January 8th. They set a “buy” rating and a $16.00 price target on the stock. Nine investment analysts have rated the stock with a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $15.80.

Solid Biosciences Trading Down 1.5 %

SLDB stock opened at $5.42 on Monday. The firm has a 50 day moving average of $4.07 and a 200-day moving average of $5.56. The firm has a market capitalization of $413.65 million, a P/E ratio of -1.78 and a beta of 1.98. Solid Biosciences has a 12 month low of $2.88 and a 12 month high of $15.05.

Institutional Trading of Solid Biosciences

Institutional investors have recently modified their holdings of the company. Vestal Point Capital LP raised its position in Solid Biosciences by 1.8% during the 4th 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 last quarter. JPMorgan Chase & Co. raised its holdings in shares of Solid Biosciences by 9,393.8% during the fourth quarter. JPMorgan Chase & Co. now owns 955,932 shares of the company’s stock valued at $3,824,000 after acquiring an additional 945,863 shares in the last quarter. Redmile Group LLC purchased a new stake in Solid Biosciences in the fourth quarter worth $2,461,000. Geode Capital Management LLC increased its position in Solid Biosciences by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 509,802 shares of the company’s stock valued at $2,040,000 after purchasing an additional 4,932 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in Solid Biosciences by 292.8% in the 3rd 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. 81.46% of the stock is currently owned by hedge funds and other institutional investors.

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.