Solid Biosciences (NASDAQ:SLDB) Trading Down 4.9% – What’s Next?

Solid Biosciences Inc. (NASDAQ:SLDB)’s stock price traded down 4.9% on Monday . The stock traded as low as $5.03 and last traded at $5.16. 377,782 shares changed hands during trading, a decline of 87% from the average session volume of 2,873,468 shares. The stock had previously closed at $5.42.

Analyst Ratings Changes

SLDB has been the topic of a number of recent analyst reports. Wedbush initiated coverage on shares of Solid Biosciences in a research report on Friday, December 13th. They issued an “outperform” rating and a $16.00 target price on the stock. HC Wainwright lifted their target price on Solid Biosciences from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday. Truist Financial initiated coverage on Solid Biosciences in a research report on Wednesday, January 8th. They issued a “buy” rating and a $16.00 target price for the company. JPMorgan Chase & Co. decreased their price objective 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, Citizens Jmp upgraded shares of Solid Biosciences to a “strong-buy” rating in a research report on Tuesday, December 10th. Nine equities research analysts have rated the stock with a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $15.80.

Solid Biosciences Price Performance

The stock has a 50 day moving average of $4.07 and a two-hundred day moving average of $5.53. The stock has a market capitalization of $388.46 million, a PE ratio of -1.67 and a beta of 1.98.

Institutional Trading of Solid Biosciences

Institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position 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 valued at $3,824,000 after acquiring an additional 945,863 shares during the period. Redmile Group LLC acquired a new position in Solid Biosciences during the fourth quarter worth $2,461,000. Point72 Asset Management L.P. boosted 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 purchasing an additional 330,234 shares in the last quarter. Dimensional Fund Advisors LP grew 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 purchasing an additional 192,714 shares during the last quarter. Finally, Trexquant Investment LP increased its position in shares of Solid Biosciences by 256.9% in the fourth quarter. Trexquant Investment LP now owns 194,281 shares of the company’s stock valued at $777,000 after buying an additional 139,851 shares in the last quarter. Hedge funds and other institutional investors own 81.46% of the company’s stock.

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.