FY2024 Earnings Estimate for SLDB Issued By Chardan Capital

Solid Biosciences Inc. (NASDAQ:SLDB - Free Report) - Stock analysts at Chardan Capital lowered their FY2024 earnings estimates for shares of Solid Biosciences in a report issued on Monday, November 11th. Chardan Capital analyst Y. Livshits now anticipates that the company will post earnings per share of ($2.91) for the year, down from their prior forecast of ($2.72). Chardan Capital currently has a "Buy" rating and a $15.00 price target on the stock. The consensus estimate for Solid Biosciences' current full-year earnings is ($2.75) per share. Chardan Capital also issued estimates for Solid Biosciences' FY2025 earnings at ($2.03) EPS.

Solid Biosciences (NASDAQ:SLDB - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.79) EPS for the quarter, missing analysts' consensus estimates of ($0.67) by ($0.12).

SLDB has been the topic of several other research reports. Barclays reduced their target price on shares of Solid Biosciences from $18.00 to $15.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 14th. HC Wainwright reaffirmed a "buy" rating and issued a $16.00 target price on shares of Solid Biosciences in a research note on Thursday, November 7th. William Blair raised shares of Solid Biosciences to a "strong-buy" rating in a research note on Friday, August 30th. Finally, JPMorgan Chase & Co. reduced 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 note on Tuesday. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $15.14.

Solid Biosciences Stock Down 0.7 %

NASDAQ:SLDB traded down $0.04 during mid-day trading on Thursday, reaching $5.52. 270,925 shares of the company were exchanged, compared to its average volume of 342,196. Solid Biosciences has a 12 month low of $2.21 and a 12 month high of $15.05. The company has a fifty day moving average of $6.67 and a 200 day moving average of $7.69. The stock has a market cap of $220.55 million, a PE ratio of -1.83 and a beta of 1.92.

Hedge Funds Weigh In On Solid Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. RA Capital Management L.P. boosted its position in shares of Solid Biosciences by 26.4% during the first quarter. RA Capital Management L.P. now owns 4,330,446 shares of the company's stock worth $57,682,000 after buying an additional 904,160 shares during the period. Bain Capital Life Sciences Investors LLC grew its stake in shares of Solid Biosciences by 28.9% during the 1st quarter. Bain Capital Life Sciences Investors LLC now owns 4,034,582 shares of the company's stock worth $53,741,000 after acquiring an additional 904,160 shares in the last quarter. Vestal Point Capital LP lifted its position in shares of Solid Biosciences by 5.1% in the third quarter. Vestal Point Capital LP now owns 2,800,000 shares of the company's stock worth $19,516,000 after purchasing an additional 135,000 shares in the last quarter. Artal Group S.A. lifted its position in shares of Solid Biosciences by 175.0% in the first quarter. Artal Group S.A. now owns 2,500,000 shares of the company's stock worth $33,300,000 after purchasing an additional 1,590,781 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new stake in shares of Solid Biosciences in the first quarter worth $23,935,000. 81.46% of the stock is owned by institutional investors and hedge funds.

About Solid Biosciences

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.