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

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have been assigned an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and ten have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $14.70.

A number of analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Biosciences in a research note on Thursday, January 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 price objective on shares of Solid Biosciences in a report on Wednesday, January 14th. Citigroup reissued a “market outperform” rating on shares of Solid Biosciences in a report on Wednesday, December 17th. Barclays set a $9.00 target price on Solid Biosciences and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $15.00 price target on shares of Solid Biosciences in a research note on Tuesday, November 4th.

Solid Biosciences Stock Down 2.1%

SLDB stock opened at $6.46 on Friday. Solid Biosciences has a twelve month low of $2.41 and a twelve month high of $7.37. The company has a market cap of $503.30 million, a PE ratio of -2.59 and a beta of 2.69. The business’s 50-day simple moving average is $5.72 and its 200 day simple moving average is $5.70.

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

Insider Activity

In other news, CFO Kevin Tan sold 5,704 shares of the business’s stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $5.27, for a total value of $30,060.08. Following the sale, the chief financial officer owned 46,100 shares in the company, valued at approximately $242,947. The trade was a 11.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Alexander Cumbo sold 10,808 shares of the 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 sale, the chief executive officer owned 81,388 shares of the company’s stock, valued at $415,892.68. This trade represents a 11.72% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 29,872 shares of company stock worth $154,178. Corporate insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. UBS Group AG grew its position in Solid Biosciences by 25.9% during the 4th quarter. UBS Group AG now owns 911,409 shares of the company’s stock worth $5,140,000 after acquiring an additional 187,264 shares during the last quarter. SG Americas Securities LLC acquired a new position in Solid Biosciences in the fourth quarter worth $118,000. CIBC Bancorp USA Inc. acquired a new position in Solid Biosciences in the third quarter worth $228,000. Armistice Capital LLC grew its holdings in shares of Solid Biosciences by 134.0% during the third quarter. Armistice Capital LLC now owns 936,000 shares of the company’s stock worth $5,775,000 after purchasing an additional 536,000 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its stake in shares of Solid Biosciences by 2.6% in the third quarter. Alyeska Investment Group L.P. now owns 1,682,805 shares of the company’s stock valued at $10,383,000 after buying an additional 41,984 shares in the last quarter. 81.46% of the stock is owned by institutional investors and hedge funds.

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.