Solid Biosciences (NASDAQ:SLDB) Stock Price Down 7.9% - Should You Sell?

Solid Biosciences Inc. (NASDAQ:SLDB - Get Free Report)'s share price was down 7.9% during trading on Thursday . The company traded as low as $3.32 and last traded at $3.40. Approximately 757,581 shares changed hands during mid-day trading, a decline of 12% from the average daily volume of 858,388 shares. The stock had previously closed at $3.69.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Chardan Capital reaffirmed a "buy" rating and issued a $16.00 price objective on shares of Solid Biosciences in a research note on Friday, March 7th. JPMorgan Chase & Co. decreased their price target on shares of Solid Biosciences from $12.00 to $11.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Wedbush initiated coverage on Solid Biosciences in a report on Friday, December 13th. They set an "outperform" rating and a $16.00 target price on the stock. Citizens Jmp upgraded Solid Biosciences to a "strong-buy" rating in a report on Tuesday, December 10th. Finally, JMP Securities assumed coverage on shares of Solid Biosciences in a research report on Tuesday, December 10th. They issued an "outperform" rating and a $15.00 price objective for the company. Eight equities research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $15.67.

Solid Biosciences Trading Down 6.1 %

The stock has a 50-day simple moving average of $4.44 and a 200-day simple moving average of $4.94. The company has a market cap of $213.88 million, a price-to-earnings ratio of -0.91 and a beta of 2.07.

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Hedge Funds Weigh In On Solid Biosciences

Several large investors have recently bought and sold shares of SLDB. Vestal Point Capital LP boosted its holdings in shares of Solid Biosciences by 1.8% in the fourth quarter. Vestal Point Capital LP now owns 2,850,000 shares of the company's stock valued at $11,400,000 after acquiring an additional 50,000 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Solid Biosciences by 9,393.8% during the 4th quarter. JPMorgan Chase & Co. now owns 955,932 shares of the company's stock valued at $3,824,000 after purchasing an additional 945,863 shares during the period. Redmile Group LLC bought a new stake in shares of Solid Biosciences in the 4th quarter worth $2,461,000. Geode Capital Management LLC raised its stake in shares of Solid Biosciences by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 509,802 shares of the company's stock worth $2,040,000 after buying an additional 4,932 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Solid Biosciences by 292.8% in the third quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company's stock valued at $3,088,000 after buying an additional 330,234 shares during the period. 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.