Solid Biosciences (NASDAQ:SLDB) Shares Down 1.1% - Here's Why

Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report)'s stock price was down 1.1% during trading on Thursday . The company traded as low as $5.52 and last traded at $5.69. Approximately 138,604 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 2,947,261 shares. The stock had previously closed at $5.76.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Chardan Capital reaffirmed a "buy" rating and set a $16.00 price objective on shares of Solid Biosciences in a research report on Friday. HC Wainwright raised 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. Wedbush began coverage on Solid Biosciences in a research note on Friday, December 13th. They set an "outperform" rating and a $16.00 target price for the company. JPMorgan Chase & Co. dropped their price target on shares of Solid Biosciences from $15.00 to $12.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 12th. Finally, JMP Securities started coverage on Solid Biosciences in a research report on Tuesday, December 10th. They set an "outperform" rating and a $15.00 target price on the stock. Nine research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $15.80.

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Solid Biosciences Stock Down 6.6 %

The company's fifty day moving average price is $4.07 and its two-hundred day moving average price is $5.56. The firm has a market cap of $386.17 million, a PE ratio of -1.66 and a beta of 1.98.

Institutional Trading of Solid Biosciences

A number of institutional investors have recently modified their holdings of SLDB. China Universal Asset Management Co. Ltd. acquired a new stake in Solid Biosciences in the fourth quarter valued at $34,000. Corton Capital Inc. acquired a new stake in shares of Solid Biosciences in the fourth quarter valued at about $41,000. Invesco Ltd. purchased a new stake in Solid Biosciences during the fourth quarter worth about $49,000. Sei Investments Co. acquired a new position in Solid Biosciences during the fourth quarter worth about $52,000. Finally, Wells Fargo & Company MN increased its holdings in Solid Biosciences by 29.4% in the fourth 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. 81.46% of the stock is currently owned by hedge funds and other institutional investors.

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.