Credit Suisse took its Solid Biosciences [SLDB] rating to the equivalent of Neutral from Underperform, and the price target to $7.0, in a research note dated 2021-01-08. That figure represents around a -17.45% premium from where the company’s shares closed on Thursday. Other analysts also revised their coverage, with SVB Leerink’s analysts downgrading the shares from “an Outperform” rating to “a Mkt perform” rating in a research note to investors issued in late July. Meanwhile, Evercore ISI had lowered its rating on SLDB to “an In-line” from the earlier “an Outperform”, in a research note produced for clients May 07, 2020. In addition, Evercore ISI launched coverage on October 11, 2019. The research firm rated SLDB “an Outperform”.
Is Solid Biosciences Inc. [NASDAQ:SLDB] a Good Buy Right Now?
It should be noted that SLDB technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 88% Buy in the past month. Data from Solid Biosciences Inc.’s Trend Spotter indicated that the signals were Strongest. The stock current average is 4.4 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 2.0 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 3.53 million shares.
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SLDB Price Performance
On Wall Street, Solid Biosciences Inc. [NASDAQ:SLDB] finished Thursday’s session up 19.77% at $8.48. The stock went up to $8.555 at the same session while its lowest single day price was $7.099. In the last five days, it saw a rise of about 8.86%, Solid Biosciences Inc. shares gained by almost 11.87% since the beginning of the year. However, the share price has dropped to as low as 2.91% below its one year high. On 01/07/21, the company shares recorded $8.56, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/06/21, the same year at $6.95. The company’s shares have inclined by 91.42% in the past year. The 50-day SMA achieved is $4.62 while the 200-day SMA is $3.25. Volume gained to 1.87 million from 0.85 million in the previous session.
SLDB Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 7.53 level, and in case of violation of this particular level, it will cause more drop to 6.59 level. On the upper level, 9.50 is still the key resistance. The stock may increase to the subsequent resistance at 8.99. The Relative Strength Index (RSI) pinned on the 14-day chart is 71.09, implying a overbought technical stance while the MACD stands at 0.35, meaning price will decrease in the next trading period. Percent R indicator moved to 2.78%, implying bullish price movement. Stochastic %K at 76.60% suggest selling the stock.
What is the short interest in Solid Biosciences Inc.?
Short interest in the Solid Biosciences Inc. stock has surged, increasing by 0.76 million shares to total 2.45 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 3.21 million, data from Yahoo Finance shows. The decrease of -31.02% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 3.87% of the overall float for the stock.
Solid Biosciences Inc.’s Biggest Shareholders: Who Owns Solid Biosciences Inc. [SLDB]?
Filings by Perceptive Advisors LLC showed that the firm now holds a total of 10,803,857 shares or roughly 17.87% of the outstanding SLDB shares. This means their shares have increased by 4,054,054 from the 10,803,857 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, RA Capital Management LP updated stake is worth $33,022,112. Details in the latest 13F filings reveal that Ecor1 Capital LLC acquired their 70.04% stake valued at $17,460,250 while BlackRock Fund Advisors cut theirs at $6,631,701. During the last quarter, Ecor1 Capital LLC raised 2,172,762 of its shares in Solid Biosciences Inc. while BlackRock Fund Advisors sold -78,206 shares. The Invus Public Equities Advisors LL’s holdings currently number 1,710,000 shares at $14500800.0. According to the firm’s last 13F report, Tavistock Life Sciences Co. shares in the company at filing stood at 1,531,872 shares, roughly $5,070,496.