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

Solid Biosciences Inc. (NASDAQ:SLDB) has earned an average recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $14.70.

A number of equities analysts have issued reports on SLDB shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Biosciences in a report on Thursday, January 22nd. Chardan Capital reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Solid Biosciences in a research note on Tuesday, November 4th. Barclays set a $9.00 target price on shares of Solid Biosciences and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Citigroup restated a “market outperform” rating on shares of Solid Biosciences in a research report on Wednesday, December 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 price target on shares of Solid Biosciences in a research note on Monday, February 9th.

Solid Biosciences Stock Performance

Shares of SLDB opened at $6.31 on Thursday. Solid Biosciences has a 52 week low of $2.41 and a 52 week high of $7.37. The stock has a market capitalization of $491.61 million, a price-to-earnings ratio of -2.53 and a beta of 2.67. The stock has a fifty day moving average of $5.98 and a 200-day moving average of $5.66.

Insider Buying and Selling at Solid Biosciences

In other Solid Biosciences news, COO David T. Howton sold 37,771 shares of Solid Biosciences stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $6.44, for a total transaction of $243,245.24. Following the transaction, the chief operating officer directly owned 116,753 shares of the company’s stock, valued at approximately $751,889.32. The trade was a 24.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Alexander Cumbo sold 80,258 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $6.44, for a total transaction of $516,861.52. Following the transaction, the chief executive officer owned 270,931 shares of the company’s stock, valued at approximately $1,744,795.64. The trade was a 22.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 620,596 shares of company stock worth $3,933,687 over the last 90 days. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Solid Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the company. Legal & General Group Plc boosted its position in Solid Biosciences by 208.6% during the second quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock valued at $29,000 after acquiring an additional 4,063 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake 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 valued at $33,000 after purchasing an additional 4,534 shares during the period. Creative Planning bought a new stake in shares of Solid Biosciences during the 2nd quarter valued at about $57,000. Russell Investments Group Ltd. grew its stake in Solid Biosciences by 142.0% during the third quarter. Russell Investments Group Ltd. now owns 10,211 shares of the company’s stock worth $63,000 after purchasing an additional 5,991 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey increased its holdings in Solid Biosciences by 233.8% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 15,113 shares of the company’s stock worth $74,000 after purchasing an additional 10,585 shares in the last quarter. Institutional investors and hedge funds own 81.46% of the company’s stock.

About Solid Biosciences

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.