JPMorgan Chase & Co. Issues Pessimistic Forecast for Solid Biosciences (NASDAQ:SLDB) Stock Price

Solid Biosciences (NASDAQ:SLDB - Get Free Report) had its price objective cut by investment analysts at JPMorgan Chase & Co. from $12.00 to $11.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 113.59% from the company's previous close.

Several other equities research analysts also recently weighed in on SLDB. HC Wainwright raised their price objective on Solid Biosciences from $16.00 to $20.00 and gave the company a "buy" rating in a report on Monday. JMP Securities initiated coverage on Solid Biosciences in a research note on Tuesday, December 10th. They set an "outperform" rating and a $15.00 price target on the stock. Chardan Capital reiterated a "buy" rating and issued a $16.00 price objective on shares of Solid Biosciences in a report on Friday, March 7th. Citizens Jmp upgraded shares of Solid Biosciences to a "strong-buy" rating in a research report on Tuesday, December 10th. Finally, Wedbush began coverage on shares of Solid Biosciences in a research report on Friday, December 13th. They issued an "outperform" rating and a $16.00 price target for the company. Nine equities research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, Solid Biosciences has an average rating of "Buy" and an average target price of $15.70.

Remove Ads

Solid Biosciences Stock Performance

Shares of Solid Biosciences stock traded down $0.58 during midday trading on Thursday, hitting $5.15. 1,021,997 shares of the company traded hands, compared to its average volume of 2,797,302. The stock has a market cap of $393.04 million, a price-to-earnings ratio of -1.69 and a beta of 1.98. The firm's fifty day moving average price is $4.15 and its 200-day moving average price is $5.47. Solid Biosciences has a 12 month low of $2.88 and a 12 month high of $15.05.

Institutional Investors Weigh In On Solid Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. bought a new position in Solid Biosciences during the fourth quarter worth $34,000. Corton Capital Inc. bought a new position in shares of Solid Biosciences during the 4th quarter worth about $41,000. Invesco Ltd. bought a new position in shares of Solid Biosciences during the 4th quarter worth about $49,000. Sei Investments Co. acquired a new stake in shares of Solid Biosciences in the 4th quarter valued at about $52,000. Finally, Wells Fargo & Company MN increased its position in Solid Biosciences by 29.4% in the 4th quarter. Wells Fargo & Company MN now owns 13,138 shares of the company's stock valued at $53,000 after buying an additional 2,986 shares in the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.