Solid Biosciences (NASDAQ:SLDB) Trading Down 7.2%

view original post

Shares of Solid Biosciences Inc. (NASDAQ:SLDBGet Rating) were down 7.2% on Tuesday . The company traded as low as $0.52 and last traded at $0.54. Approximately 730,038 shares changed hands during trading, a decline of 19% from the average daily volume of 902,858 shares. The stock had previously closed at $0.58.

A number of equities research analysts have recently weighed in on SLDB shares. Chardan Capital dropped their target price on Solid Biosciences from $17.00 to $7.00 in a research report on Thursday, April 28th. SVB Leerink restated an “outperform” rating on shares of Solid Biosciences in a research report on Wednesday, April 27th. Finally, Piper Sandler dropped their target price on Solid Biosciences from $5.00 to $2.00 and set a “neutral” rating for the company in a research report on Wednesday, May 18th.

The stock has a market capitalization of $60.47 million, a price-to-earnings ratio of -0.74 and a beta of 1.54. The business has a 50 day simple moving average of $0.63 and a 200-day simple moving average of $1.08.

Solid Biosciences (NASDAQ:SLDBGet Rating) last posted its earnings results on Wednesday, April 27th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.04). Solid Biosciences had a negative net margin of 660.25% and a negative return on equity of 37.71%. The business had revenue of $1.93 million during the quarter, compared to analyst estimates of $3.57 million. During the same period in the previous year, the firm posted ($0.19) earnings per share. As a group, sell-side analysts expect that Solid Biosciences Inc. will post -0.77 EPS for the current year.

Hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its position in shares of Solid Biosciences by 4.4% during the third quarter. Renaissance Technologies LLC now owns 401,845 shares of the company’s stock worth $960,000 after buying an additional 17,060 shares during the period. BlackRock Inc. raised its holdings in Solid Biosciences by 10.9% during the third quarter. BlackRock Inc. now owns 4,511,695 shares of the company’s stock worth $10,783,000 after acquiring an additional 442,960 shares in the last quarter. Franklin Resources Inc. bought a new stake in Solid Biosciences during the third quarter worth about $182,000. Bailard Inc. bought a new stake in Solid Biosciences during the fourth quarter worth about $93,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Solid Biosciences by 59.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 140,285 shares of the company’s stock worth $245,000 after acquiring an additional 52,473 shares in the last quarter. 66.95% of the stock is owned by institutional investors.

About Solid Biosciences (NASDAQ:SLDB)

Solid Biosciences Inc engages in developing therapies for duchenne muscular dystrophy in the United States. The company’s lead product candidate is SGT-001, a gene transfer candidate, which is in a Phase I/II clinical trial to drive functional dystrophin protein expression in patients’ muscles; and SGT-003, a ext-generation gene transfer candidate for the treatment of duchenne muscular dystrophy.

See Also

Want More Great Investing Ideas?

Receive News & Ratings for Solid Biosciences Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Solid Biosciences and related companies with MarketBeat.com’s FREE daily email newsletter.

Related Posts