HC Wainwright Issues Positive Forecast for Solid Biosciences (NASDAQ:SLDB) Stock Price

Solid Biosciences (NASDAQ:SLDB - Free Report) had its target price lifted by HC Wainwright from $16.00 to $20.00 in a research report report published on Monday,Benzinga reports. The firm currently has a buy rating on the stock. HC Wainwright also issued estimates for Solid Biosciences' Q1 2025 earnings at ($0.43) EPS, Q2 2025 earnings at ($0.44) EPS, Q3 2025 earnings at ($0.44) EPS, Q4 2025 earnings at ($0.45) EPS, FY2025 earnings at ($1.76) EPS, FY2026 earnings at ($1.99) EPS, FY2027 earnings at ($1.73) EPS, FY2028 earnings at ($0.77) EPS and FY2029 earnings at $1.14 EPS.

Several other research firms have also weighed in on SLDB. Wedbush began coverage on shares of Solid Biosciences in a research report on Friday, December 13th. They set an "outperform" rating and a $16.00 price objective for the company. Citizens Jmp raised shares of Solid Biosciences to a "strong-buy" rating in a research note on Tuesday, December 10th. Chardan Capital reaffirmed a "buy" rating and set a $16.00 price objective on shares of Solid Biosciences in a research note on Friday, March 7th. JMP Securities initiated coverage on shares of Solid Biosciences in a research note on Tuesday, December 10th. They set an "outperform" rating and a $15.00 price objective for the company. Finally, JPMorgan Chase & Co. reduced their price target on shares of Solid Biosciences from $15.00 to $12.00 and set an "overweight" rating for the company in a research report on Tuesday, November 12th. Nine analysts have rated the stock with a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, Solid Biosciences has an average rating of "Buy" and a consensus target price of $15.70.

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Solid Biosciences Trading Down 10.3 %

SLDB traded down $0.59 on Monday, reaching $5.14. The company had a trading volume of 1,033,828 shares, compared to its average volume of 2,802,057. The company has a fifty day moving average of $4.15 and a 200-day moving average of $5.47. The company has a market capitalization of $392.28 million, a P/E ratio of -1.69 and a beta of 1.98. Solid Biosciences has a one year low of $2.88 and a one year high of $15.05.

Hedge Funds Weigh In On Solid Biosciences

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vestal Point Capital LP grew its holdings in Solid Biosciences by 1.8% during the fourth quarter. Vestal Point Capital LP now owns 2,850,000 shares of the company's stock valued at $11,400,000 after purchasing an additional 50,000 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Solid Biosciences by 9,393.8% during the fourth quarter. JPMorgan Chase & Co. now owns 955,932 shares of the company's stock valued at $3,824,000 after purchasing an additional 945,863 shares during the last quarter. Redmile Group LLC acquired a new position in Solid Biosciences during the fourth quarter valued at approximately $2,461,000. Geode Capital Management LLC grew its holdings in Solid Biosciences by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 509,802 shares of the company's stock valued at $2,040,000 after purchasing an additional 4,932 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings 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 valued at $3,088,000 after purchasing an additional 330,234 shares during the last quarter. 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.