Solid Biosciences (NASDAQ:SLDB) Trading 0.5% Higher - Time to Buy?

Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report)'s stock price rose 0.5% on Wednesday . The stock traded as high as $5.85 and last traded at $5.64. Approximately 440,868 shares were traded during trading, a decline of 84% from the average daily volume of 2,818,590 shares. The stock had previously closed at $5.61.

Analyst Ratings Changes

SLDB has been the subject of several recent analyst reports. HC Wainwright increased their target price on Solid Biosciences from $16.00 to $20.00 and gave the company a "buy" rating in a research note on Monday. Citizens Jmp upgraded Solid Biosciences to a "strong-buy" rating in a research note on Tuesday, December 10th. Truist Financial assumed coverage on Solid Biosciences in a research note on Wednesday, January 8th. They set a "buy" rating and a $16.00 target price for the company. Chardan Capital reiterated a "buy" rating and issued a $16.00 price objective on shares of Solid Biosciences in a research report on Friday, March 7th. Finally, JMP Securities assumed coverage on Solid Biosciences in a research report on Tuesday, December 10th. They issued an "outperform" rating and a $15.00 price objective for the company. Nine research analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $15.70.

Solid Biosciences Trading Down 1.0 %

The stock has a fifty day moving average price of $4.18 and a 200-day moving average price of $5.47. The firm has a market capitalization of $394.44 million, a price-to-earnings ratio of -1.67 and a beta of 1.98.

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Hedge Funds Weigh In On Solid Biosciences

A number of hedge funds have recently modified their holdings of SLDB. JPMorgan Chase & Co. raised its holdings in shares of Solid Biosciences by 9,393.8% in the 4th quarter. JPMorgan Chase & Co. now owns 955,932 shares of the company's stock worth $3,824,000 after buying an additional 945,863 shares in the last quarter. Redmile Group LLC acquired a new position in shares of Solid Biosciences in the 4th quarter worth approximately $2,461,000. Point72 Asset Management L.P. raised its holdings 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 worth $3,088,000 after buying an additional 330,234 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Solid Biosciences by 270.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 264,069 shares of the company's stock valued at $1,056,000 after purchasing an additional 192,714 shares in the last quarter. Finally, Trexquant Investment LP raised its position in Solid Biosciences by 256.9% in the 4th quarter. Trexquant Investment LP now owns 194,281 shares of the company's stock valued at $777,000 after purchasing an additional 139,851 shares during the last quarter. 81.46% of the stock is owned by institutional investors and hedge funds.

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.