JPMorgan Chase & Co. Has Lowered Expectations for Solid Biosciences (NASDAQ:SLDB) Stock Price

Solid Biosciences (NASDAQ:SLDB) had its price target lowered by JPMorgan Chase & Co. from $15.00 to $12.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 111.27% from the stock’s current price.

Other equities analysts also recently issued reports about the company. HC Wainwright reiterated a “buy” rating and set a $16.00 price objective on shares of Solid Biosciences in a research report on Thursday, November 7th. Barclays lowered their price target on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. William Blair raised shares of Solid Biosciences to a “strong-buy” rating in a report on Friday, August 30th. Finally, Chardan Capital reiterated a “buy” rating and issued a $15.00 price objective on shares of Solid Biosciences in a report on Monday. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $15.14.

Solid Biosciences Stock Performance

Shares of NASDAQ SLDB traded down $0.31 during midday trading on Tuesday, hitting $5.68. The company’s stock had a trading volume of 27,970 shares, compared to its average volume of 341,829. Solid Biosciences has a 1-year low of $2.00 and a 1-year high of $15.05. The firm’s fifty day moving average price is $6.79 and its 200-day moving average price is $7.73. The firm has a market cap of $226.97 million, a P/E ratio of -1.89 and a beta of 1.92.

Solid Biosciences (NASDAQ:SLDB) last issued its earnings results on Wednesday, November 6th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.12). As a group, research analysts predict that Solid Biosciences will post -2.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Solid Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd purchased a new position in Solid Biosciences in the 2nd quarter worth about $58,000. Ground Swell Capital LLC acquired a new stake in shares of Solid Biosciences in the second quarter worth $76,000. Algert Global LLC acquired a new position in Solid Biosciences during the second quarter valued at $82,000. Susquehanna Fundamental Investments LLC acquired a new stake in Solid Biosciences during the 2nd quarter worth about $92,000. Finally, Rhumbline Advisers acquired a new position in shares of Solid Biosciences in the 2nd quarter valued at about $191,000. 81.46% of the stock is owned by institutional investors and hedge funds.

Solid Biosciences Company Profile

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.