Solid Biosciences Inc. (NASDAQ:SLDB) Given Average Rating of “Buy” by Analysts

Solid Biosciences Inc. (NASDAQ:SLDB) has received a consensus rating of “Buy” from the twelve brokerages that are covering the company, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $15.22.

Several equities analysts recently weighed in on the company. William Blair upgraded Solid Biosciences to a “strong-buy” rating in a research report on Friday, August 30th. Chardan Capital reiterated a “buy” rating and set a $15.00 price objective on shares of Solid Biosciences in a research note on Monday, November 11th. Citizens Jmp upgraded shares of Solid Biosciences to a “strong-buy” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. dropped their price target on shares of Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Finally, JMP Securities began coverage on shares of Solid Biosciences in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $15.00 price objective for the company.

Insider Activity

In other Solid Biosciences news, COO David T. Howton sold 5,072 shares of Solid Biosciences stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total value of $28,403.20. Following the completion of the transaction, the chief operating officer now directly owns 15,663 shares of the company’s stock, valued at $87,712.80. This trade represents a 24.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Alexander Cumbo sold 11,114 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total transaction of $62,238.40. Following the sale, the chief executive officer now owns 38,484 shares in the company, valued at $215,510.40. This represents a 22.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,719 shares of company stock worth $135,457 over the last 90 days. Corporate insiders own 13.63% of the company’s stock.

Institutional Investors Weigh In On Solid Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SLDB. Barclays PLC increased its position in shares of Solid Biosciences by 412.1% during the 3rd quarter. Barclays PLC now owns 62,856 shares of the company’s stock valued at $439,000 after purchasing an additional 50,582 shares during the last quarter. XTX Topco Ltd bought a new position in Solid Biosciences during the third quarter valued at $121,000. Wellington Management Group LLP raised its stake in shares of Solid Biosciences by 183.6% in the third quarter. Wellington Management Group LLP now owns 119,804 shares of the company’s stock valued at $835,000 after acquiring an additional 77,564 shares during the period. State Street Corp lifted its holdings in shares of Solid Biosciences by 9.2% in the 3rd quarter. State Street Corp now owns 441,540 shares of the company’s stock worth $3,078,000 after acquiring an additional 37,130 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Solid Biosciences by 292.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company’s stock worth $3,088,000 after acquiring an additional 330,234 shares during the last quarter. 81.46% of the stock is currently owned by hedge funds and other institutional investors.

Solid Biosciences Stock Down 3.0 %

NASDAQ SLDB opened at $4.24 on Friday. The company has a 50-day moving average price of $5.27 and a 200-day moving average price of $6.85. Solid Biosciences has a 52 week low of $3.90 and a 52 week high of $15.05. The firm has a market capitalization of $169.41 million, a P/E ratio of -1.39 and a beta of 2.01.

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

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.