Solid Biosciences (NASDAQ:SLDB) Stock Price Up 0.5% – Still a Buy?

Solid Biosciences Inc. (NASDAQ:SLDB) was up 0.5% on Wednesday . The stock traded as high as $5.85 and last traded at $5.64. Approximately 440,868 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 2,818,590 shares. The stock had previously closed at $5.61.

Analyst Ratings Changes

Several brokerages have recently issued reports on SLDB. HC Wainwright boosted their price target on shares of Solid Biosciences from $16.00 to $20.00 and gave the company a “buy” rating in a report on Monday. Chardan Capital reissued a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a research note on Friday, March 7th. JPMorgan Chase & Co. dropped their price target on shares of Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Wedbush started coverage on Solid Biosciences in a report on Friday, December 13th. They set an “outperform” rating and a $16.00 price target on the stock. Finally, Citizens Jmp raised Solid Biosciences to a “strong-buy” rating in a report on Tuesday, December 10th. Nine equities research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $15.80.

Solid Biosciences Price Performance

The company has a fifty day moving average price of $4.12 and a two-hundred day moving average price of $5.47. The firm has a market cap of $436.32 million, a price-to-earnings ratio of -1.88 and a beta of 1.98.

Institutional Investors Weigh In On Solid Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN grew its stake in shares of Solid Biosciences by 29.4% in the 4th quarter. Wells Fargo & Company MN now owns 13,138 shares of the company’s stock worth $53,000 after purchasing an additional 2,986 shares during the last quarter. Rhumbline Advisers grew its position in Solid Biosciences by 10.5% in the fourth quarter. Rhumbline Advisers now owns 43,677 shares of the company’s stock worth $175,000 after buying an additional 4,161 shares during the last quarter. Wellington Management Group LLP grew its position in Solid Biosciences by 4.0% in the fourth quarter. Wellington Management Group LLP now owns 124,551 shares of the company’s stock worth $498,000 after buying an additional 4,747 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Solid Biosciences by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 509,802 shares of the company’s stock valued at $2,040,000 after acquiring an additional 4,932 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Solid Biosciences by 12.3% during the 4th quarter. American Century Companies Inc. now owns 46,857 shares of the company’s stock worth $187,000 after acquiring an additional 5,126 shares in the last quarter. 81.46% of the stock is owned by institutional investors and hedge funds.

About Solid Biosciences

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.