Solid Biosciences (NASDAQ:SLDB) Stock Price Down 1.1% – Should You Sell?

Solid Biosciences Inc. (NASDAQ:SLDB)’s share price dropped 1.1% during mid-day trading on Thursday . The stock traded as low as $5.52 and last traded at $5.69. Approximately 138,604 shares traded hands during trading, a decline of 95% from the average daily volume of 2,947,261 shares. The stock had previously closed at $5.76.

Analyst Upgrades and Downgrades

SLDB has been the topic of a number of recent research reports. Chardan Capital lifted their price objective on shares of Solid Biosciences from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. JMP Securities assumed coverage on Solid Biosciences in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $15.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. HC Wainwright reiterated a “buy” rating and issued a $16.00 target price on shares of Solid Biosciences in a research note on Friday, January 10th. Finally, Citizens Jmp raised Solid Biosciences to a “strong-buy” rating in a report on Tuesday, December 10th. Nine investment analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $15.40.

Solid Biosciences Trading Down 4.6 %

The business has a 50 day moving average price of $4.02 and a 200-day moving average price of $5.61. The firm has a market capitalization of $419.37 million, a PE ratio of -1.81 and a beta of 2.01.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SLDB. JPMorgan Chase & Co. grew its stake in shares of Solid Biosciences by 9,393.8% during the 4th quarter. JPMorgan Chase & Co. now owns 955,932 shares of the company’s stock worth $3,824,000 after purchasing an additional 945,863 shares during the period. Redmile Group LLC purchased a new stake in Solid Biosciences during the fourth quarter worth about $2,461,000. Point72 Asset Management L.P. grew its position in Solid Biosciences by 292.8% during the third quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company’s stock worth $3,088,000 after buying an additional 330,234 shares during the period. Dimensional Fund Advisors LP increased its holdings in Solid Biosciences by 270.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 264,069 shares of the company’s stock valued at $1,056,000 after buying an additional 192,714 shares in the last quarter. Finally, Trexquant Investment LP lifted its position in shares of Solid Biosciences by 256.9% during the 4th quarter. Trexquant Investment LP now owns 194,281 shares of the company’s stock valued at $777,000 after acquiring an additional 139,851 shares during the period. Hedge funds and other 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.