Solid Biosciences (NASDAQ:SLDB) Trading 23.8% Higher

Solid Biosciences Inc (NASDAQ:SLDB) shares traded up 23.8% during mid-day trading on Wednesday . The company traded as high as $6.48 and last traded at $6.40, 1,019,398 shares changed hands during trading. An increase of 45% from the average session volume of 702,086 shares. The stock had previously closed at $5.17.

A number of analysts have recently issued reports on the stock. ValuEngine raised shares of Solid Biosciences from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Credit Suisse Group lowered shares of Solid Biosciences from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $7.00 to $6.00 in a research note on Tuesday, May 14th. Citigroup set a $6.00 target price on shares of Solid Biosciences and gave the company a “hold” rating in a research note on Thursday, May 16th. Zacks Investment Research raised shares of Solid Biosciences from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Goldman Sachs Group lowered shares of Solid Biosciences from a “neutral” rating to a “sell” rating and lowered their target price for the company from $5.00 to $4.00 in a research note on Tuesday, May 14th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $6.35.

The company has a market capitalization of $183.05 million, a PE ratio of -2.81 and a beta of 2.07. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.07. The company’s 50 day simple moving average is $5.42.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings data on Monday, May 13th. The company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.22). On average, equities analysts expect that Solid Biosciences Inc will post -3.09 EPS for the current year.

In other news, Director Life Sciences Maste Perceptive acquired 2,822,581 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was purchased at an average cost of $4.65 per share, for a total transaction of $13,125,001.65. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 31.20% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in SLDB. EcoR1 Capital LLC bought a new stake in shares of Solid Biosciences in the second quarter valued at about $4,755,000. Emory University raised its holdings in shares of Solid Biosciences by 335.0% in the first quarter. Emory University now owns 298,887 shares of the company’s stock valued at $2,750,000 after acquiring an additional 230,173 shares in the last quarter. Spark Investment Management LLC raised its holdings in shares of Solid Biosciences by 78.7% in the first quarter. Spark Investment Management LLC now owns 318,100 shares of the company’s stock valued at $2,926,000 after acquiring an additional 140,141 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Solid Biosciences by 10.9% in the second quarter. BlackRock Inc. now owns 1,328,852 shares of the company’s stock valued at $7,640,000 after acquiring an additional 130,516 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Solid Biosciences by 11.7% in the second quarter. Vanguard Group Inc. now owns 830,325 shares of the company’s stock valued at $4,774,000 after acquiring an additional 87,016 shares in the last quarter. Hedge funds and other institutional investors own 59.18% of the company’s stock.

Solid Biosciences Company Profile (NASDAQ:SLDB)

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.

Featured Story: Using other technical indicators with support levels

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.