JPMorgan Chase & Co. Lowers Solid Biosciences (NASDAQ:SLDB) Price Target to $12.00

Solid Biosciences (NASDAQ:SLDB - Free Report) had its target price reduced by JPMorgan Chase & Co. from $15.00 to $12.00 in a report released on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

SLDB has been the subject of several other research reports. William Blair raised shares of Solid Biosciences to a "strong-buy" rating in a research report on Friday, August 30th. Chardan Capital restated a "buy" rating and set a $15.00 target price on shares of Solid Biosciences in a research report on Monday. HC Wainwright reaffirmed a "buy" rating and set a $16.00 target price on shares of Solid Biosciences in a report on Thursday, November 7th. Finally, Barclays dropped their price target on shares of Solid Biosciences from $18.00 to $15.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 14th. Seven research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $15.14.

Solid Biosciences Price Performance

NASDAQ:SLDB traded down $0.48 during trading hours on Tuesday, hitting $5.51. The company had a trading volume of 229,228 shares, compared to its average volume of 342,748. Solid Biosciences has a 52 week low of $2.00 and a 52 week high of $15.05. The company has a market capitalization of $220.18 million, a PE ratio of -1.81 and a beta of 1.92. The stock has a 50-day moving average price of $6.73 and a 200 day moving average price of $7.70.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.12). Analysts anticipate that Solid Biosciences will post -2.75 EPS for the current fiscal year.

Hedge Funds Weigh In On Solid Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC bought a new position in shares of Solid Biosciences during the 1st quarter valued at about $23,935,000. Artal Group S.A. raised its holdings in shares of Solid Biosciences by 175.0% in the 1st quarter. Artal Group S.A. now owns 2,500,000 shares of the company's stock valued at $33,300,000 after purchasing an additional 1,590,781 shares in the last quarter. Millennium Management LLC lifted its holdings in Solid Biosciences by 135.7% during the second quarter. Millennium Management LLC now owns 1,728,065 shares of the company's stock worth $9,798,000 after buying an additional 994,984 shares during the period. Vanguard Group Inc. boosted its position in Solid Biosciences by 283.9% during the first quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company's stock valued at $16,578,000 after purchasing an additional 920,404 shares in the last quarter. Finally, RA Capital Management L.P. boosted its stake in Solid Biosciences by 26.4% in the first quarter. RA Capital Management L.P. now owns 4,330,446 shares of the company's stock valued at $57,682,000 after acquiring an additional 904,160 shares in 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.