Solid Biosciences (NASDAQ:SLDB) Given “Buy” Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Solid Biosciences (NASDAQ:SLDB) in a research note issued to investors on Monday morning,Benzinga reports. HC Wainwright currently has a $20.00 price objective on the stock.

A number of other research analysts have also weighed in on the stock. Wedbush reissued an “outperform” rating and issued a $14.00 target price on shares of Solid Biosciences in a research note on Wednesday, March 11th. Guggenheim assumed coverage on Solid Biosciences in a research report on Friday. They issued a “buy” rating and a $26.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Biosciences in a research note on Thursday, January 22nd. Needham & Company LLC reiterated a “buy” rating and set a $19.00 price target on shares of Solid Biosciences in a report on Friday. Finally, Chardan Capital reissued a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a research report on Friday. Eleven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $16.00.

Solid Biosciences Stock Up 1.6%

Shares of SLDB opened at $7.14 on Monday. The firm’s fifty day moving average is $6.47 and its two-hundred day moving average is $5.81. The stock has a market cap of $556.28 million, a PE ratio of -3.53 and a beta of 2.64. Solid Biosciences has a 52-week low of $2.41 and a 52-week high of $8.72.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings results on Thursday, March 19th. The company reported ($0.50) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.01. As a group, research analysts anticipate that Solid Biosciences will post -2.84 earnings per share for the current year.

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 shares were sold at an average price of $6.44, for a total transaction of $243,245.24. Following the completion of the sale, the chief operating officer directly owned 116,753 shares in the company, valued at $751,889.32. This trade represents a 24.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jessie Hanrahan sold 26,535 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $6.44, for a total transaction of $170,885.40. Following the completion of the sale, the insider directly owned 82,675 shares in the company, valued at $532,427. This trade represents a 24.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 597,672 shares of company stock worth $3,816,546. Insiders own 13.63% of the company’s stock.

Institutional Investors Weigh In On Solid Biosciences

Institutional investors have recently modified their holdings of the company. AQR Capital Management LLC purchased a new position in Solid Biosciences during the 1st quarter valued at about $418,000. Goldman Sachs Group Inc. increased its stake in Solid Biosciences by 32.2% during the first quarter. Goldman Sachs Group Inc. now owns 180,137 shares of the company’s stock worth $667,000 after purchasing an additional 43,910 shares during the period. Woodline Partners LP acquired a new stake in shares of Solid Biosciences during the first quarter worth about $2,338,000. ProShare Advisors LLC purchased a new stake in Solid Biosciences during the 2nd quarter worth approximately $80,000. Finally, Geode Capital Management LLC lifted its holdings in Solid Biosciences by 184.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,510,153 shares of the company’s stock worth $7,356,000 after buying an additional 979,294 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.