Chardan Capital Has Bearish Outlook for SLDB FY2024 Earnings

Solid Biosciences Inc. (NASDAQ:SLDB) – Stock analysts at Chardan Capital decreased their FY2024 EPS estimates for shares of Solid Biosciences in a note issued to investors on Monday, November 11th. Chardan Capital analyst Y. Livshits now expects that the company will earn ($2.91) per share for the year, down from their prior forecast of ($2.72). Chardan Capital currently has a “Buy” rating and a $15.00 target price on the stock. The consensus estimate for Solid Biosciences’ current full-year earnings is ($2.78) per share. Chardan Capital also issued estimates for Solid Biosciences’ FY2025 earnings at ($2.03) EPS.

Several other research firms have also issued reports on SLDB. JPMorgan Chase & Co. dropped their price target on shares of Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a research report on Tuesday. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 target price on shares of Solid Biosciences in a report on Thursday, November 7th. William Blair upgraded Solid Biosciences to a “strong-buy” rating in a report on Friday, August 30th. Finally, Barclays dropped their price objective on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 14th. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Solid Biosciences currently has a consensus rating of “Buy” and an average price target of $15.14.

Solid Biosciences Trading Down 8.7 %

NASDAQ SLDB opened at $4.85 on Thursday. Solid Biosciences has a 12 month low of $2.21 and a 12 month high of $15.05. The stock has a 50 day moving average of $6.54 and a 200-day moving average of $7.64. The company has a market cap of $193.81 million, a PE ratio of -1.60 and a beta of 1.92.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.12).

Institutional Investors Weigh In On Solid Biosciences

Hedge funds have recently bought and sold shares of the stock. RA Capital Management L.P. boosted its position in shares of Solid Biosciences by 26.4% in the first quarter. RA Capital Management L.P. now owns 4,330,446 shares of the company’s stock valued at $57,682,000 after acquiring an additional 904,160 shares during the period. Bain Capital Life Sciences Investors LLC boosted its holdings in Solid Biosciences by 28.9% in the 1st quarter. Bain Capital Life Sciences Investors LLC now owns 4,034,582 shares of the company’s stock valued at $53,741,000 after purchasing an additional 904,160 shares during the period. Vestal Point Capital LP grew its position in shares of Solid Biosciences by 5.1% during the 3rd quarter. Vestal Point Capital LP now owns 2,800,000 shares of the company’s stock worth $19,516,000 after purchasing an additional 135,000 shares in the last quarter. Artal Group S.A. increased its holdings in shares of Solid Biosciences by 175.0% during the first quarter. Artal Group S.A. now owns 2,500,000 shares of the company’s stock worth $33,300,000 after purchasing an additional 1,590,781 shares during the period. Finally, Janus Henderson Group PLC acquired a new stake in shares of Solid Biosciences in the first quarter valued at approximately $23,935,000. 81.46% of the stock is currently owned by institutional investors and hedge funds.

About Solid Biosciences

Solid Biosciences Inc, a life science company, develops therapies for neuromuscular and cardiac diseases in the United States. The company's lead product candidate is SGT-003, a gene transfer candidate for the treatment of Duchenne muscular dystrophy; and SGT-501 to treat Catecholaminergic polymorphic ventricular tachycardia.