Zacks Investment Research cut shares of Solid Biosciences (NASDAQ:SLDB) from a buy rating to a hold rating in a research note issued to investors on Tuesday, Zacks.com reports.
According to Zacks, “Solid Biosciences LLC is a life science company. It focuses on developing therapies for Duchenne muscular dystrophy. The company is engaged in developing gene therapies, disease modifying therapies and assistive devices, all targeting the various facets of the DMD. Its product candidate includes SGT-001, a gene transfer candidate which is in Phase I/II clinical trial to restore functional dystrophin protein expression in patients’ muscles. Solid Biosciences LLC is headquartered in Cambridge, Massachusetts. “
SLDB has been the topic of several other research reports. Leerink Swann raised Solid Biosciences from a market perform rating to an outperform rating in a research note on Monday, August 19th. Svb Leerink raised Solid Biosciences from a market perform rating to an outperform rating and upped their price target for the company from $8.00 to $15.00 in a research note on Monday, August 19th. Citigroup lowered Solid Biosciences from a neutral rating to a sell rating and set a $6.00 price target on the stock. in a research note on Thursday, August 29th. Chardan Capital raised Solid Biosciences from a neutral rating to a buy rating and upped their price target for the company from $7.50 to $10.00 in a research note on Friday, August 16th. Finally, ValuEngine raised Solid Biosciences from a hold rating to a buy rating in a research note on Thursday, August 1st. Three analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $8.67.
Shares of NASDAQ:SLDB opened at $10.47 on Tuesday. The company has a quick ratio of 5.73, a current ratio of 5.73 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average of $8.18 and a two-hundred day moving average of $7.61. The stock has a market cap of $482.99 million, a P/E ratio of -4.65 and a beta of 1.82. Solid Biosciences has a 52-week low of $4.32 and a 52-week high of $54.54.
Solid Biosciences (NASDAQ:SLDB) last issued its earnings results on Wednesday, August 14th. The company reported ($0.76) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.81) by $0.05. On average, equities analysts anticipate that Solid Biosciences will post -2.85 earnings per share for the current year.
In other Solid Biosciences news, Director Life Sciences Maste Perceptive purchased 2,822,581 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were acquired at an average price of $4.65 per share, with a total value of $13,125,001.65. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 31.20% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of SLDB. EcoR1 Capital LLC acquired a new stake in Solid Biosciences in the 2nd quarter valued at about $4,755,000. Emory University lifted its holdings in shares of Solid Biosciences by 335.0% in the 1st quarter. Emory University now owns 298,887 shares of the company’s stock valued at $2,750,000 after buying an additional 230,173 shares during the period. BlackRock Inc. lifted its holdings in shares of Solid Biosciences by 10.9% in the 2nd quarter. BlackRock Inc. now owns 1,328,852 shares of the company’s stock valued at $7,640,000 after buying an additional 130,516 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Solid Biosciences by 11.7% in the 2nd quarter. Vanguard Group Inc. now owns 830,325 shares of the company’s stock valued at $4,774,000 after buying an additional 87,016 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Solid Biosciences by 55.9% in the 2nd quarter. Renaissance Technologies LLC now owns 150,300 shares of the company’s stock valued at $864,000 after buying an additional 53,900 shares during the period. 46.24% of the stock is currently owned by hedge funds and other institutional investors.
Solid Biosciences Company Profile
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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