Solid Biosciences (NASDAQ:SLDB) Upgraded at Citizens Jmp

Citizens Jmp upgraded shares of Solid Biosciences (NASDAQ:SLDB) to a strong-buy rating in a research report sent to investors on Tuesday,Zacks.com reports.

SLDB has been the subject of a number of other reports. William Blair raised shares of Solid Biosciences to a “strong-buy” rating in a report on Friday, August 30th. Chardan Capital reaffirmed a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a research note on Monday, November 11th. HC Wainwright reiterated a “buy” rating and set a $16.00 price objective on shares of Solid Biosciences in a research report on Thursday, November 7th. Barclays decreased their price objective on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. Finally, JMP Securities started coverage on Solid Biosciences in a research note on Tuesday. They issued an “outperform” rating and a $15.00 target price for the company. Eight investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Solid Biosciences has an average rating of “Buy” and an average price target of $15.13.

Solid Biosciences Stock Down 6.6 %

NASDAQ:SLDB opened at $4.68 on Tuesday. The stock 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 price is $5.72 and its two-hundred day moving average price is $7.09. Solid Biosciences has a twelve month low of $3.83 and a twelve month high of $15.05.

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

Insiders Place Their Bets

In other Solid Biosciences news, CEO Alexander Cumbo sold 11,114 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total value of $62,238.40. Following the sale, the chief executive officer now owns 38,484 shares of the company’s stock, valued at $215,510.40. This trade represents a 22.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO David T. Howton sold 5,072 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total transaction of $28,403.20. Following the completion of the transaction, the chief operating officer now owns 15,663 shares in the company, valued at $87,712.80. The trade was a 24.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,719 shares of company stock valued at $135,457 in the last ninety days. Company insiders own 13.63% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SLDB. Bank of New York Mellon Corp purchased a new position in shares of Solid Biosciences during the second quarter valued at approximately $392,000. Rhumbline Advisers bought a new stake in Solid Biosciences in the second quarter valued at $191,000. Acadian Asset Management LLC purchased a new position in Solid Biosciences during the 2nd quarter valued at $379,000. Ground Swell Capital LLC bought a new position in Solid Biosciences in the 2nd quarter worth $76,000. Finally, American Century Companies Inc. lifted its position in shares of Solid Biosciences by 39.9% in the 2nd quarter. American Century Companies Inc. now owns 34,557 shares of the company’s stock worth $196,000 after purchasing an additional 9,853 shares during the period. Institutional investors own 81.46% of the company’s stock.

Solid Biosciences Company Profile

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.