Solid Biosciences (NASDAQ:SLDB) Trading 0.5% Higher – Should You Buy?

Solid Biosciences Inc. (NASDAQ:SLDB)’s stock price was up 0.5% during mid-day trading on Wednesday . The company traded as high as $5.85 and last traded at $5.64. Approximately 440,868 shares traded hands 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 Upgrades and Downgrades

A number of analysts recently issued reports on SLDB shares. Citizens Jmp upgraded Solid Biosciences to a “strong-buy” rating in a research note on Tuesday, December 10th. HC Wainwright boosted their price objective on Solid Biosciences from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Monday. Chardan Capital reiterated a “buy” rating and set a $16.00 price objective on shares of Solid Biosciences in a research note on Friday, March 7th. Wedbush started coverage on Solid Biosciences in a research note on Friday, December 13th. They issued an “outperform” rating and a $16.00 target price on the stock. Finally, JMP Securities started coverage on Solid Biosciences in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $15.00 target price on the stock. Nine equities research analysts have rated the stock with a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $15.70.

Solid Biosciences Trading Up 1.8 %

The firm has a market capitalization of $406.30 million, a PE ratio of -1.73 and a beta of 1.98. The firm has a 50 day simple moving average of $4.18 and a 200 day simple moving average of $5.47.

Hedge Funds Weigh In On Solid Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vestal Point Capital LP increased its stake in Solid Biosciences by 5.1% during the third quarter. Vestal Point Capital LP now owns 2,800,000 shares of the company’s stock worth $19,516,000 after acquiring an additional 135,000 shares during the last quarter. Rhumbline Advisers increased its stake in Solid Biosciences by 10.5% during the fourth quarter. Rhumbline Advisers now owns 43,677 shares of the company’s stock worth $175,000 after acquiring an additional 4,161 shares during the last quarter. Barclays PLC increased its stake in Solid Biosciences by 412.1% during the third quarter. Barclays PLC now owns 62,856 shares of the company’s stock worth $439,000 after acquiring an additional 50,582 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in Solid Biosciences during the third quarter worth approximately $71,000. Finally, Point72 Asset Management L.P. increased its stake in Solid Biosciences by 292.8% during the third quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company’s stock worth $3,088,000 after acquiring an additional 330,234 shares during the last quarter. 81.46% of the stock is currently owned by hedge funds and other institutional investors.

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.