FY2023 EPS Estimates for Solid Biosciences Inc. (NASDAQ:SLDB) Lifted by Analyst

Solid Biosciences Inc. (NASDAQ:SLDB) – Stock analysts at Cantor Fitzgerald lifted their FY2023 earnings per share estimates for shares of Solid Biosciences in a research report issued on Tuesday, November 14th. Cantor Fitzgerald analyst C. Duncan now forecasts that the company will post earnings per share of ($4.98) for the year, up from their prior forecast of ($5.39). Cantor Fitzgerald currently has a “Overweight” rating on the stock. The consensus estimate for Solid Biosciences’ current full-year earnings is ($4.88) per share. Cantor Fitzgerald also issued estimates for Solid Biosciences’ FY2024 earnings at ($3.63) EPS.

Solid Biosciences Price Performance

Solid Biosciences stock opened at $2.57 on Friday. The company has a current ratio of 9.38, a quick ratio of 9.38 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $2.50 and a 200 day moving average price of $4.16. Solid Biosciences has a 12-month low of $1.81 and a 12-month high of $8.20. The stock has a market cap of $51.85 million, a P/E ratio of -0.57 and a beta of 1.33.

Institutional Trading of Solid Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the company. Great Point Partners LLC purchased a new position in Solid Biosciences in the first quarter worth approximately $997,000. Tower Research Capital LLC TRC increased its position in shares of Solid Biosciences by 102.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 23,950 shares of the company’s stock worth $113,000 after purchasing an additional 12,099 shares during the last quarter. Finepoint Capital LP raised its holdings in Solid Biosciences by 123.7% in the 1st quarter. Finepoint Capital LP now owns 488,857 shares of the company’s stock valued at $2,317,000 after buying an additional 270,295 shares during the period. Dimensional Fund Advisors LP acquired a new position in Solid Biosciences in the fourth quarter valued at about $300,000. Finally, XTX Topco Ltd boosted its stake in Solid Biosciences by 582.0% during the first quarter. XTX Topco Ltd now owns 197,756 shares of the company’s stock worth $237,000 after buying an additional 168,759 shares during the period. Institutional investors and hedge funds own 81.46% of the company’s stock.

About Solid Biosciences

Solid Biosciences Inc, a life science company, engages in developing therapies for neuromuscular and cardiac diseases in the United States. The company's lead product candidate is SGT-003, a next-generation gene transfer candidate for the treatment of Duchenne muscular dystrophy (Duchenne); AVB-202-TT, a gene therapy program for the treatment of Friedreich's ataxia; AVB-401, a gene therapy program for the treatment of BAG3-mediated dilated cardiomyopathy; and other drugs for the treatment of undisclosed cardiac diseases.