Solid Biosciences (NASDAQ:SLDB) Price Target Lowered to $12.00 at JPMorgan Chase & Co.

Solid Biosciences (NASDAQ:SLDB) had its price objective trimmed by JPMorgan Chase & Co. from $15.00 to $12.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages also recently weighed in on SLDB. William Blair upgraded shares of Solid Biosciences to a “strong-buy” rating in a research report on Friday, August 30th. Barclays dropped their price target on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 14th. 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. Finally, Chardan Capital reissued a “buy” rating and issued a $15.00 target price on shares of Solid Biosciences in a research report on Monday. Seven analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Solid Biosciences presently has an average rating of “Buy” and an average target price of $15.14.

Solid Biosciences Price Performance

SLDB stock opened at $5.51 on Tuesday. The stock has a market capitalization of $220.18 million, a P/E ratio of -1.81 and a beta of 1.92. Solid Biosciences has a 1-year low of $2.00 and a 1-year high of $15.05. The business has a fifty day moving average price of $6.73 and a 200-day moving average price of $7.70.

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 analysts’ consensus estimates of ($0.67) by ($0.12). As a group, analysts anticipate that Solid Biosciences will post -2.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Solid Biosciences by 283.9% in the 1st quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock worth $16,578,000 after acquiring an additional 920,404 shares in the last quarter. Bain Capital Life Sciences Investors LLC increased its stake in shares of Solid Biosciences by 28.9% in the first quarter. Bain Capital Life Sciences Investors LLC now owns 4,034,582 shares of the company’s stock worth $53,741,000 after purchasing an additional 904,160 shares in the last quarter. Janus Henderson Group PLC bought a new stake in shares of Solid Biosciences during the 1st quarter valued at $23,935,000. Artal Group S.A. lifted its stake in shares of Solid Biosciences by 175.0% during the 1st quarter. Artal Group S.A. now owns 2,500,000 shares of the company’s stock valued at $33,300,000 after buying an additional 1,590,781 shares in the last quarter. Finally, RA Capital Management L.P. boosted its holdings in Solid Biosciences by 26.4% in the 1st quarter. RA Capital Management L.P. now owns 4,330,446 shares of the company’s stock worth $57,682,000 after buying an additional 904,160 shares during the period. Institutional investors own 81.46% of the company’s stock.

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.