Chardan Capital Lowers Solid Biosciences (NASDAQ:SLDB) Price Target to $17.00

Solid Biosciences (NASDAQ:SLDB) had its target price decreased by research analysts at Chardan Capital from $20.00 to $17.00 in a note issued to investors on Friday, The Fly reports. The firm presently has a “buy” rating on the stock.

Other equities research analysts also recently issued reports about the company. Zacks Investment Research upgraded Solid Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, September 11th. Jefferies Financial Group assumed coverage on Solid Biosciences in a report on Thursday, May 27th. They set a “buy” rating and a $7.00 price objective on the stock. Finally, Piper Sandler assumed coverage on Solid Biosciences in a report on Monday, July 12th. They set a “neutral” rating and a $6.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Solid Biosciences currently has a consensus rating of “Buy” and an average price target of $9.32.

Shares of NASDAQ:SLDB opened at $2.67 on Friday. The company has a market cap of $294.49 million, a P/E ratio of -2.41 and a beta of 0.95. Solid Biosciences has a one year low of $2.01 and a one year high of $11.58. The business’s 50-day simple moving average is $2.75 and its 200 day simple moving average is $4.00.

Solid Biosciences (NASDAQ:SLDB) last announced its earnings results on Sunday, August 15th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.02. The company had revenue of $3.59 million for the quarter, compared to analysts’ expectations of $3.15 million. Equities research analysts expect that Solid Biosciences will post -0.75 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of SLDB. Price T Rowe Associates Inc. MD acquired a new position in shares of Solid Biosciences in the 1st quarter worth approximately $23,276,000. Perceptive Advisors LLC grew its position in shares of Solid Biosciences by 24.1% in the 1st quarter. Perceptive Advisors LLC now owns 13,412,552 shares of the company’s stock worth $74,171,000 after acquiring an additional 2,608,695 shares in the last quarter. RA Capital Management L.P. grew its position in shares of Solid Biosciences by 24.0% in the 1st quarter. RA Capital Management L.P. now owns 12,367,873 shares of the company’s stock worth $68,394,000 after acquiring an additional 2,391,304 shares in the last quarter. Suvretta Capital Management LLC boosted its position in Solid Biosciences by 47.4% during the 1st quarter. Suvretta Capital Management LLC now owns 5,974,193 shares of the company’s stock valued at $33,037,000 after purchasing an additional 1,920,139 shares during the period. Finally, BlackRock Inc. boosted its position in Solid Biosciences by 64.4% during the 2nd quarter. BlackRock Inc. now owns 4,068,735 shares of the company’s stock valued at $14,892,000 after purchasing an additional 1,593,447 shares during the period. Institutional investors own 72.71% of the company’s stock.

Solid Biosciences Company Profile

Solid Biosciences, Inc engages in the development of treatments for patients with Duchenne muscular dystrophy (DMD). It develops gene therapies, disease modifying therapies, and assistive devices for the cure of DMD. The company was founded by Ilan Ganot, Andrey J. Zarur, Matthew Bennett Arnold, Annie Ganot, and Gilad David Hayeem in March 2013 and is headquartered in Cambridge, MA.

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