Solid Biosciences (NASDAQ:SLDB) Upgraded at Wedbush

Wedbush upgraded shares of Solid Biosciences (NASDAQ:SLDB) to a strong-buy rating in a research report report published on Thursday morning,Zacks.com reports.

SLDB has been the topic of a number of other reports. William Blair upgraded Solid Biosciences to a “strong-buy” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. cut their price target on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. 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. Citizens Jmp raised shares of Solid Biosciences to a “strong-buy” rating in a research report on Tuesday, December 10th. Finally, Barclays decreased their price target on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 14th. Eight analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $15.22.

Solid Biosciences Stock Performance

Shares of NASDAQ SLDB opened at $4.91 on Thursday. The business’s 50-day simple moving average is $5.69 and its 200-day simple moving average is $7.07. Solid Biosciences has a 52 week low of $4.33 and a 52 week high of $15.05. The firm has a market cap of $196.20 million, a price-to-earnings ratio of -1.62 and a beta of 2.01.

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). As a group, equities research analysts forecast that Solid Biosciences will post -2.85 earnings per share for the current year.

Insider Transactions at Solid Biosciences

In other Solid Biosciences news, insider Jessie Hanrahan sold 4,610 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total value of $25,816.00. Following the sale, the insider now directly owns 14,235 shares in the company, valued at $79,716. This represents a 24.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO David T. Howton sold 5,072 shares of Solid Biosciences stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total value of $28,403.20. Following the transaction, the chief operating officer now directly owns 15,663 shares of the company’s stock, valued at approximately $87,712.80. The trade was a 24.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 23,719 shares of company stock valued at $135,457. Company insiders own 13.63% of the company’s stock.

Hedge Funds Weigh In On Solid Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Point72 DIFC Ltd acquired a new position in Solid Biosciences in the second quarter worth $58,000. The Manufacturers Life Insurance Company bought a new position in shares of Solid Biosciences in the third quarter valued at about $71,000. Ground Swell Capital LLC acquired a new position in Solid Biosciences during the 2nd quarter worth about $76,000. Algert Global LLC bought a new stake in Solid Biosciences during the 2nd quarter worth about $82,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Solid Biosciences in the 2nd quarter valued at about $92,000. 81.46% of the stock is currently owned by institutional investors and hedge funds.

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.