Citigroup assumed coverage on shares of Solid Biosciences (NASDAQ:SLDB) in a research report sent to investors on Tuesday morning, MarketBeat reports. The firm issued a sell rating and a $25.00 price target on the stock.
Several other equities research analysts have also issued reports on the company. Zacks Investment Research lowered Solid Biosciences from a buy rating to a hold rating in a research report on Wednesday, October 24th. Credit Suisse Group began coverage on Solid Biosciences in a research report on Thursday, September 6th. They set a neutral rating and a $38.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $41.89.
Shares of Solid Biosciences stock traded down $1.54 on Tuesday, hitting $30.87. 5,861 shares of the company’s stock traded hands, compared to its average volume of 181,510. The stock has a market cap of $1.18 billion and a P/E ratio of -10.88. Solid Biosciences has a 52-week low of $6.83 and a 52-week high of $54.84.
Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings results on Friday, August 10th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by ($0.01). Equities analysts forecast that Solid Biosciences will post -2.21 EPS for the current year.
Several hedge funds have recently bought and sold shares of the stock. Boxer Capital LLC increased its position in Solid Biosciences by 270.7% in the second quarter. Boxer Capital LLC now owns 2,780,000 shares of the company’s stock worth $99,051,000 after buying an additional 2,030,000 shares during the period. BlackRock Inc. acquired a new stake in Solid Biosciences in the first quarter worth $4,794,000. Janus Henderson Group PLC acquired a new stake in Solid Biosciences in the third quarter worth $24,288,000. Partner Fund Management L.P. acquired a new stake in Solid Biosciences in the second quarter worth $16,724,000. Finally, Millennium Management LLC acquired a new stake in Solid Biosciences in the first quarter worth $2,023,000. 60.14% of the stock is currently owned by institutional investors and hedge funds.
About Solid Biosciences
Solid Biosciences Inc engages in identifying and developing therapies for duchenne muscular dystrophy in the United States. Its lead product candidate includes SGT-001, a gene therapy that is in Phase I/II clinical trials to restore functional dystrophin protein expression in patients' muscles. The company's product candidates also comprise SB-001, a monoclonal antibody to reduce fibrosis and inflammation.
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