Solid Biosciences’ (SLDB) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Solid Biosciences (NASDAQ:SLDB) in a report issued on Thursday,Benzinga reports. They currently have a $16.00 price target on the stock.

Other equities research analysts also recently issued reports about the company. William Blair upgraded Solid Biosciences to a “strong-buy” rating in a research report on Friday, August 30th. Chardan Capital reaffirmed a “buy” rating and set a $15.00 price objective on shares of Solid Biosciences in a report on Monday, November 11th. Citizens Jmp raised shares of Solid Biosciences to a “strong-buy” rating in a report on Tuesday, December 10th. Barclays reduced their price target on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 14th. Finally, JMP Securities began coverage on shares of Solid Biosciences in a research report on Tuesday, December 10th. They set an “outperform” rating and a $15.00 price objective for the company. Eight research analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, Solid Biosciences currently has an average rating of “Buy” and an average price target of $15.22.

Solid Biosciences Price Performance

Solid Biosciences stock opened at $4.91 on Thursday. Solid Biosciences has a 1 year low of $4.33 and a 1 year high of $15.05. The firm’s 50 day moving average price is $5.69 and its 200-day moving average price is $7.07. The stock has a market cap of $196.20 million, a P/E ratio of -1.62 and a beta of 2.01.

Solid Biosciences (NASDAQ:SLDB) last posted its earnings results on Wednesday, November 6th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.12). As a group, equities analysts expect that Solid Biosciences will post -2.85 EPS for the current year.

Insider Buying and Selling

In related news, CEO Alexander Cumbo sold 11,114 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total transaction of $62,238.40. Following the completion of the transaction, the chief executive officer now owns 38,484 shares in the company, valued at $215,510.40. The trade was a 22.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO David T. Howton sold 5,072 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total value of $28,403.20. Following the completion of the sale, the chief operating officer now owns 15,663 shares in the company, valued at approximately $87,712.80. The trade was a 24.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,719 shares of company stock valued at $135,457. Company insiders own 13.63% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp bought a new stake in shares of Solid Biosciences in the second quarter valued at about $392,000. Rhumbline Advisers purchased a new position in Solid Biosciences during the 2nd quarter valued at about $191,000. Acadian Asset Management LLC purchased a new position in Solid Biosciences during the 2nd quarter valued at about $379,000. Ground Swell Capital LLC bought a new stake in shares of Solid Biosciences in the 2nd quarter valued at about $76,000. Finally, American Century Companies Inc. lifted its position in shares of Solid Biosciences by 39.9% in the 2nd quarter. American Century Companies Inc. now owns 34,557 shares of the company’s stock worth $196,000 after purchasing an additional 9,853 shares during the period. Institutional investors own 81.46% of the company’s stock.

Solid Biosciences Company Profile

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.