Credit Suisse Group downgraded shares of Solid Biosciences (NASDAQ:SLDB) from a neutral rating to an underperform rating in a research report sent to investors on Tuesday, Benzinga reports. They currently have $6.00 price objective on the stock, down from their previous price objective of $7.00.
Several other brokerages also recently commented on SLDB. Zacks Investment Research downgraded shares of Solid Biosciences from a buy rating to a hold rating in a report on Tuesday, March 19th. ValuEngine raised shares of Solid Biosciences from a hold rating to a buy rating in a report on Tuesday, March 19th. Chardan Capital reaffirmed a buy rating and set a $15.00 target price on shares of Solid Biosciences in a report on Thursday, February 7th. Svb Leerink cut shares of Solid Biosciences from an outperform rating to a market perform rating in a research note on Friday, February 8th. Finally, Leerink Swann cut shares of Solid Biosciences from an outperform rating to a market perform rating in a research note on Thursday, February 7th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Solid Biosciences currently has an average rating of Hold and a consensus target price of $20.11.
Shares of SLDB stock opened at $6.32 on Tuesday. The stock has a market cap of $313.42 million, a P/E ratio of -2.81 and a beta of 1.68. The company has a quick ratio of 10.31, a current ratio of 10.31 and a debt-to-equity ratio of 0.01. Solid Biosciences has a 52 week low of $5.23 and a 52 week high of $54.84.
Solid Biosciences (NASDAQ:SLDB) last announced its earnings results on Monday, May 13th. The company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.22). On average, research analysts forecast that Solid Biosciences will post -2.53 EPS for the current year.
In other news, Director Juan Andrey Zarur sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $10.00, for a total value of $80,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Boxer Capital, Llc sold 450,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $9.88, for a total transaction of $4,446,000.00. The disclosure for this sale can be found here. 31.20% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. Flinton Capital Management LLC acquired a new position in shares of Solid Biosciences in the 4th quarter valued at approximately $47,000. First Manhattan Co. raised its position in shares of Solid Biosciences by 100.0% in the 4th quarter. First Manhattan Co. now owns 2,000 shares of the company’s stock valued at $53,000 after buying an additional 1,000 shares in the last quarter. Great West Life Assurance Co. Can acquired a new position in shares of Solid Biosciences in the 4th quarter valued at approximately $83,000. Legal & General Group Plc raised its position in shares of Solid Biosciences by 47.8% in the 3rd quarter. Legal & General Group Plc now owns 1,825 shares of the company’s stock valued at $86,000 after buying an additional 590 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its position in Solid Biosciences by 356.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,160 shares of the company’s stock worth $111,000 after purchasing an additional 3,249 shares in the last quarter. Institutional investors own 63.39% of the company’s stock.
About Solid Biosciences
Solid Biosciences Inc, a life science company, engages in identifying and developing therapies for duchenne muscular dystrophy (DMD) in the United States. The company's lead product candidate is SGT-001, an adeno-associated viral vector-mediated gene transfer, which is in a Phase I/II clinical trial to restore functional dystrophin protein expression in patients' muscles.
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