Cantor Fitzgerald Brokers Reduce Earnings Estimates for SLDB

Solid Biosciences Inc. (NASDAQ:SLDB) – Stock analysts at Cantor Fitzgerald cut their FY2024 earnings per share estimates for Solid Biosciences in a research report issued to clients and investors on Monday, November 18th. Cantor Fitzgerald analyst C. Duncan now anticipates that the company will post earnings per share of ($2.85) for the year, down from their previous estimate of ($2.54). The consensus estimate for Solid Biosciences’ current full-year earnings is ($2.81) per share.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly 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).

A number of other analysts also recently issued reports on the stock. Barclays reduced their price target on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 target price on shares of Solid Biosciences in a report on Thursday, November 7th. Chardan Capital reissued a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a research note on Monday, November 11th. JPMorgan Chase & Co. cut their price target on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Finally, William Blair raised Solid Biosciences to a “strong-buy” rating in a report on Friday, August 30th. Seven investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $15.14.

Solid Biosciences Price Performance

SLDB stock opened at $4.96 on Thursday. The company’s fifty day moving average price is $6.37 and its 200-day moving average price is $7.53. Solid Biosciences has a one year low of $2.32 and a one year high of $15.05.

Institutional Investors Weigh In On Solid Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC bought a new position in shares of Solid Biosciences during the 1st quarter valued at approximately $23,935,000. Artal Group S.A. boosted its stake in Solid Biosciences by 175.0% during the first quarter. Artal Group S.A. now owns 2,500,000 shares of the company’s stock worth $33,300,000 after buying an additional 1,590,781 shares during the period. Millennium Management LLC increased its position in Solid Biosciences by 135.7% during the second quarter. Millennium Management LLC now owns 1,728,065 shares of the company’s stock valued at $9,798,000 after acquiring an additional 994,984 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Solid Biosciences by 283.9% in the first quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock valued at $16,578,000 after acquiring an additional 920,404 shares during the period. Finally, RA Capital Management L.P. lifted its holdings in shares of 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 acquiring an additional 904,160 shares during the last quarter. 81.46% of the stock is currently owned by hedge funds and other institutional investors.

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.