Chardan Capital Reaffirms "Buy" Rating for Solid Biosciences (NASDAQ:SLDB)

Solid Biosciences (NASDAQ:SLDB - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at Chardan Capital in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $16.00 target price on the stock. Chardan Capital's target price indicates a potential upside of 224.28% from the stock's previous close.

A number of other analysts have also weighed in on the stock. 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 target price on the stock. JMP Securities began coverage on Solid Biosciences in a research report on Tuesday, December 10th. They set an "outperform" rating and a $15.00 price objective on the stock. HC Wainwright reissued a "buy" rating and set a $16.00 price target on shares of Solid Biosciences in a research note on Friday, January 10th. Citizens Jmp raised Solid Biosciences to a "strong-buy" rating in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. cut their target price on shares of Solid Biosciences from $15.00 to $12.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 12th. Nine investment analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Solid Biosciences currently has a consensus rating of "Buy" and a consensus target price of $15.80.

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Solid Biosciences Stock Performance

Shares of SLDB traded down $0.16 during mid-day trading on Friday, reaching $4.93. The company had a trading volume of 584,507 shares, compared to its average volume of 2,853,836. The company has a market capitalization of $376.56 million, a price-to-earnings ratio of -1.62 and a beta of 1.98. The company's 50 day simple moving average is $4.09 and its 200 day simple moving average is $5.50. Solid Biosciences has a 1-year low of $2.88 and a 1-year high of $15.05.

Hedge Funds Weigh In On Solid Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vestal Point Capital LP boosted its position in shares of Solid Biosciences by 5.1% during the 3rd quarter. Vestal Point Capital LP now owns 2,800,000 shares of the company's stock valued at $19,516,000 after purchasing an additional 135,000 shares in the last quarter. Barclays PLC boosted its holdings in shares of Solid Biosciences by 412.1% during the 3rd quarter. Barclays PLC now owns 62,856 shares of the company's stock worth $439,000 after buying an additional 50,582 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Solid Biosciences during the 3rd quarter worth approximately $71,000. Point72 Asset Management L.P. increased its stake in shares of Solid Biosciences by 292.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company's stock valued at $3,088,000 after acquiring an additional 330,234 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Solid Biosciences in the 3rd quarter valued at $121,000. Institutional investors and hedge funds 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.