Solid Biosciences (NASDAQ:SLDB) Research Coverage Started at JMP Securities

JMP Securities began coverage on shares of Solid Biosciences (NASDAQ:SLDB) in a research report report published on Tuesday, Marketbeat Ratings reports. The firm issued an outperform rating and a $15.00 target price on the stock.

Several other equities research analysts have also recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $16.00 target price on shares of Solid Biosciences in a research note on Thursday, November 7th. JPMorgan Chase & Co. decreased their price objective on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Barclays cut their target price on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating for the company in a research note on Wednesday, August 14th. William Blair upgraded shares of Solid Biosciences to a “strong-buy” rating in a research note on Friday, August 30th. Finally, Chardan Capital restated a “buy” rating and issued a $15.00 price objective on shares of Solid Biosciences in a research note on Monday, November 11th. Eight research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $15.13.

Solid Biosciences Stock Down 6.6 %

Shares of NASDAQ SLDB opened at $4.68 on Tuesday. Solid Biosciences has a 12 month low of $3.83 and a 12 month high of $15.05. The company has a market cap of $186.99 million, a P/E ratio of -1.54 and a beta of 2.01. The business’s 50 day moving average is $5.72 and its two-hundred day moving average is $7.09.

Solid Biosciences (NASDAQ:SLDB) last announced its earnings results on Wednesday, November 6th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.12). Sell-side analysts expect that Solid Biosciences will post -2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Solid Biosciences

In other news, insider Jessie Hanrahan sold 4,610 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total transaction of $25,816.00. Following the transaction, the insider now directly owns 14,235 shares in the company, valued at approximately $79,716. This represents a 24.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Alexander Cumbo sold 11,114 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total transaction of $62,238.40. Following the sale, the chief executive officer now directly owns 38,484 shares in the company, valued at $215,510.40. This trade represents a 22.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,719 shares of company stock valued at $135,457. 13.63% of the stock is currently owned by company insiders.

Institutional Trading of Solid Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Solid Biosciences by 283.9% in the 1st quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock valued at $16,578,000 after purchasing an additional 920,404 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Solid Biosciences in the second quarter valued at approximately $392,000. Rhumbline Advisers bought a new position in Solid Biosciences in the second quarter valued at approximately $191,000. Acadian Asset Management LLC acquired a new stake in Solid Biosciences during the 2nd quarter worth $379,000. Finally, Ground Swell Capital LLC acquired a new stake in shares of Solid Biosciences during the second quarter worth $76,000. 81.46% of the stock is currently owned by institutional investors and hedge funds.

About Solid Biosciences

Solid Biosciences Inc, a life science company, develops therapies for neuromuscular and cardiac diseases in the United States. The company's lead product candidate is SGT-003, a gene transfer candidate for the treatment of Duchenne muscular dystrophy; and SGT-501 to treat Catecholaminergic polymorphic ventricular tachycardia.