Solid Biosciences (NASDAQ:SLDB) Reaches New 52-Week Low After Analyst Downgrade

Solid Biosciences Inc (NASDAQ:SLDB)’s stock price hit a new 52-week low during mid-day trading on Tuesday after Credit Suisse Group lowered their price target on the stock from $6.00 to $2.00. Credit Suisse Group currently has a hold rating on the stock. Solid Biosciences traded as low as $3.06 and last traded at $3.53, with a volume of 415649 shares traded. The stock had previously closed at $11.00.

Other analysts have also issued research reports about the stock. Citigroup lowered shares of Solid Biosciences from a “neutral” rating to a “sell” rating and set a $6.00 target price for the company. in a research note on Thursday, August 29th. Chardan Capital upgraded shares of Solid Biosciences from a “neutral” rating to a “buy” rating and boosted their target price for the company from $7.50 to $10.00 in a research note on Friday, August 16th. Zacks Investment Research upgraded shares of Solid Biosciences from a “sell” rating to a “hold” rating in a research note on Tuesday, October 22nd. Svb Leerink upgraded shares of Solid Biosciences from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $8.00 to $15.00 in a research note on Monday, August 19th. Finally, Leerink Swann upgraded shares of Solid Biosciences from a “market perform” rating to an “outperform” rating in a research note on Monday, August 19th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. Solid Biosciences has a consensus rating of “Hold” and a consensus target price of $10.29.

A number of hedge funds have recently added to or reduced their stakes in SLDB. Atria Investments LLC bought a new position in shares of Solid Biosciences during the second quarter worth about $472,000. BlackRock Inc. grew its position in shares of Solid Biosciences by 10.9% during the second quarter. BlackRock Inc. now owns 1,328,852 shares of the company’s stock worth $7,640,000 after acquiring an additional 130,516 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Solid Biosciences by 11.7% during the second quarter. Vanguard Group Inc. now owns 830,325 shares of the company’s stock worth $4,774,000 after acquiring an additional 87,016 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Solid Biosciences by 35.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 87,843 shares of the company’s stock worth $506,000 after acquiring an additional 23,118 shares during the last quarter. Finally, Parametric Portfolio Associates LLC bought a new position in shares of Solid Biosciences during the second quarter worth about $109,000. Hedge funds and other institutional investors own 45.67% of the company’s stock.

The firm’s 50-day moving average price is $10.72 and its 200 day moving average price is $7.88. The firm has a market cap of $507.37 million, a P/E ratio of -1.36 and a beta of 1.90. The company has a quick ratio of 5.73, a current ratio of 5.73 and a debt-to-equity ratio of 0.08.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($0.81) by $0.05. On average, equities analysts predict that Solid Biosciences Inc will post -2.85 earnings per share for the current year.

Solid Biosciences Company Profile (NASDAQ:SLDB)

Solid Biosciences Inc, a life science company, engages in identifying and developing therapies for duchenne muscular dystrophy (DMD) in the United States. The company's lead product candidate is SGT-001, an adeno-associated viral vector-mediated gene transfer, which is in a Phase I/II clinical trial to restore functional dystrophin protein expression in patients' muscles.

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