Solid Biosciences (NASDAQ:SLDB) Stock Price Down 4.9% - Time to Sell?

Shares of Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report) dropped 4.9% during trading on Monday . The stock traded as low as $5.03 and last traded at $5.16. Approximately 377,782 shares changed hands during trading, a decline of 87% from the average daily volume of 2,873,468 shares. The stock had previously closed at $5.42.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Truist Financial initiated coverage on Solid Biosciences in a research report on Wednesday, January 8th. They issued a "buy" rating and a $16.00 target price on the stock. Wedbush assumed coverage on Solid Biosciences in a research note on Friday, December 13th. They issued an "outperform" rating and a $16.00 price target on the stock. JMP Securities started coverage on Solid Biosciences in a research note on Tuesday, December 10th. They set an "outperform" rating and a $15.00 price objective on the stock. Citizens Jmp upgraded Solid Biosciences to a "strong-buy" rating in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Solid Biosciences from $12.00 to $11.00 and set an "overweight" rating on the stock in a research note on Thursday. Nine investment analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $15.70.

Solid Biosciences Stock Up 0.1 %

The business has a 50-day moving average price of $4.18 and a 200-day moving average price of $5.47. The company has a market capitalization of $399.48 million, a price-to-earnings ratio of -1.68 and a beta of 1.98.

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Institutional Trading of Solid Biosciences

Several large investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC purchased a new stake in shares of Solid Biosciences in the third quarter worth approximately $293,000. Valence8 US LP bought a new stake in Solid Biosciences during the third quarter worth approximately $110,000. The Manufacturers Life Insurance Company acquired a new position in Solid Biosciences in the 3rd quarter valued at $71,000. FMR LLC bought a new position in shares of Solid Biosciences in the third quarter worth about $305,000. Finally, MetLife Investment Management LLC lifted its holdings in shares of Solid Biosciences by 129.1% during the third quarter. MetLife Investment Management LLC now owns 13,699 shares of the company's stock worth $95,000 after buying an additional 7,719 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.