Solid Biosciences Inc. (NASDAQ:SLDB) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have earned an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $14.8182.

A number of equities research analysts have weighed in on SLDB shares. Needham & Company LLC initiated coverage on Solid Biosciences in a report on Thursday, December 4th. They set a “buy” rating and a $16.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Solid Biosciences in a research report on Wednesday, October 8th. JPMorgan Chase & Co. decreased their price target on Solid Biosciences from $13.00 to $11.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Barclays set a $9.00 price target on Solid Biosciences and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Finally, Citigroup cut their price objective on Solid Biosciences from $16.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, November 5th.

Insider Transactions at Solid Biosciences

In other Solid Biosciences news, CEO Alexander Cumbo sold 10,808 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $5.11, for a total transaction of $55,228.88. Following the sale, the chief executive officer directly owned 81,388 shares of the company’s stock, valued at approximately $415,892.68. This represents a 11.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO David T. Howton sold 4,932 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $5.11, for a total transaction of $25,202.52. Following the sale, the chief operating officer directly owned 32,908 shares of the company’s stock, valued at approximately $168,159.88. The trade was a 13.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 25,819 shares of company stock valued at $134,396 in the last quarter. 1.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc increased its holdings in Solid Biosciences by 208.6% during the 2nd quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock valued at $29,000 after purchasing an additional 4,063 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Solid Biosciences by 205.5% during the second quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company’s stock worth $33,000 after purchasing an additional 4,534 shares during the last quarter. Ground Swell Capital LLC acquired a new stake in shares of Solid Biosciences in the first quarter valued at $42,000. Pallas Capital Advisors LLC acquired a new stake in shares of Solid Biosciences in the second quarter valued at $54,000. Finally, Creative Planning bought a new position in shares of Solid Biosciences in the second quarter valued at about $57,000. 81.46% of the stock is owned by institutional investors and hedge funds.

Solid Biosciences Stock Performance

Shares of SLDB stock opened at $5.87 on Friday. The firm has a fifty day moving average of $5.32 and a 200-day moving average of $5.39. The stock has a market cap of $457.33 million, a price-to-earnings ratio of -2.36 and a beta of 2.97. Solid Biosciences has a 52-week low of $2.41 and a 52-week high of $7.37.

Solid Biosciences (NASDAQ:SLDB) last issued its earnings results on Monday, November 3rd. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.06). On average, sell-side analysts predict that Solid Biosciences will post -2.84 earnings per share 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.