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

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have earned a consensus rating of “Moderate Buy” from the twelve research firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $14.8182.

A number of research firms recently issued reports on SLDB. Barclays set a $9.00 price target on shares of Solid Biosciences and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Needham & Company LLC initiated coverage on shares of Solid Biosciences in a report on Thursday, December 4th. They issued a “buy” rating and a $16.00 target price on the stock. Chardan Capital reaffirmed a “buy” rating and issued a $15.00 price target on shares of Solid Biosciences in a report on Tuesday, November 4th. Citigroup reiterated a “market outperform” rating on shares of Solid Biosciences in a research report on Wednesday, December 17th. Finally, JPMorgan Chase & Co. reduced their price objective 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.

Solid Biosciences Price Performance

NASDAQ SLDB opened at $5.49 on Wednesday. Solid Biosciences has a 1-year low of $2.41 and a 1-year high of $7.37. The business has a 50 day simple moving average of $5.23 and a two-hundred day simple moving average of $5.59. The stock has a market capitalization of $427.73 million, a PE ratio of -2.20 and a beta of 2.69.

Solid Biosciences (NASDAQ:SLDB) last issued its quarterly earnings data on Monday, November 3rd. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.06). On average, analysts anticipate that Solid Biosciences will post -2.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO David T. Howton sold 4,932 shares of the stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $5.11, for a total value of $25,202.52. Following the sale, the chief operating officer owned 32,908 shares of the company’s stock, valued at approximately $168,159.88. This represents a 13.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Alexander Cumbo sold 10,808 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $5.11, for a total transaction of $55,228.88. Following the completion of the sale, the chief executive officer directly owned 81,388 shares of the company’s stock, valued at approximately $415,892.68. The trade was a 11.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 26,872 shares of company stock valued at $140,114. 13.63% of the stock is owned by corporate insiders.

Institutional Trading of Solid Biosciences

Large investors have recently modified their holdings of the company. Legal & General Group Plc lifted its position in shares of Solid Biosciences by 208.6% in the 2nd quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock worth $29,000 after purchasing an additional 4,063 shares during the period. Ameritas Investment Partners Inc. raised its position in shares of Solid Biosciences by 205.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company’s stock worth $33,000 after acquiring an additional 4,534 shares in the last quarter. Pallas Capital Advisors LLC purchased a new stake in shares of Solid Biosciences during the 2nd quarter worth $54,000. Creative Planning bought a new stake in Solid Biosciences during the second quarter valued at about $57,000. Finally, Russell Investments Group Ltd. boosted its position in Solid Biosciences by 142.0% during the third quarter. Russell Investments Group Ltd. now owns 10,211 shares of the company’s stock valued at $63,000 after purchasing an additional 5,991 shares in the last quarter. Hedge funds and other institutional investors own 81.46% of the company’s stock.

Solid Biosciences Company Profile

Solid Biosciences Inc is a clinical‐stage biotechnology company focused on the development of therapies for Duchenne muscular dystrophy (DMD), a rare genetic disorder characterized by progressive muscle degeneration. The company’s primary approach centers on gene replacement and gene editing technologies designed to restore functional dystrophin protein in patients lacking this critical muscle‐stabilizing protein.

Solid’s lead investigational therapy, SGT‐001, is a micro‐dystrophin gene therapy candidate engineered to deliver a shortened but functional form of the dystrophin gene using an adeno‐associated virus (AAV) vector.