Solid Biosciences’ (SLDB) Outperform Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of Solid Biosciences (NASDAQ:SLDB) in a research report report published on Wednesday,Benzinga reports. They currently have a $14.00 price target on the stock.

A number of other equities analysts have also commented on SLDB. Citigroup reissued a “market outperform” rating on shares of Solid Biosciences in a research note on Wednesday, December 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Biosciences in a report on Thursday, January 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $16.00 price target on shares of Solid Biosciences in a research report on Monday, February 9th. Ten analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $14.70.

Solid Biosciences Price Performance

NASDAQ SLDB opened at $7.72 on Wednesday. The stock’s 50 day simple moving average is $6.16 and its 200 day simple moving average is $5.71. Solid Biosciences has a one year low of $2.41 and a one year high of $8.72. The firm has a market cap of $601.47 million, a PE ratio of -3.10 and a beta of 2.65.

Insider Activity

In other news, CFO Kevin Tan sold 26,837 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $6.44, for a total transaction of $172,830.28. Following the completion of the sale, the chief financial officer owned 108,984 shares in the company, valued at $701,856.96. The trade was a 19.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gabriel Brooks sold 28,335 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $6.44, for a total value of $182,477.40. Following the transaction, the insider directly owned 96,708 shares in the company, valued at $622,799.52. This trade represents a 22.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 597,672 shares of company stock worth $3,816,546. 1.90% of the stock is owned by company insiders.

Institutional Trading of Solid Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SLDB. Legal & General Group Plc lifted its position 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 during the period. Ameritas Investment Partners Inc. grew its position in shares of Solid Biosciences by 205.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company’s stock worth $33,000 after buying an additional 4,534 shares during the period. Creative Planning bought a new stake in shares of Solid Biosciences during the second quarter worth approximately $57,000. Russell Investments Group Ltd. raised its stake in shares of 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 buying an additional 5,991 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted 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 valued at $74,000 after buying an additional 10,585 shares during the period. 81.46% of the stock is currently 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.