Solid Biosciences Inc. (NASDAQ:SLDB) Receives Average Recommendation of “Buy” from Brokerages

Solid Biosciences Inc. (NASDAQ:SLDB) has been assigned an average rating of “Buy” from the thirteen research firms that are presently covering the company, MarketBeat reports. Nine investment analysts have rated the stock with a buy recommendation and four have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $15.30.

SLDB has been the subject of a number of research reports. Chardan Capital reissued a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a research report on Monday, November 11th. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Solid Biosciences in a research note on Friday, January 10th. Truist Financial began coverage on shares of Solid Biosciences in a research report on Wednesday, January 8th. They set a “buy” rating and a $16.00 target price for the company. Wedbush started coverage on shares of Solid Biosciences in a research report on Friday, December 13th. They set an “outperform” rating and a $16.00 price target on the stock. Finally, Citizens Jmp raised shares of Solid Biosciences to a “strong-buy” rating in a research report on Tuesday, December 10th.

Solid Biosciences Stock Up 2.3 %

Shares of NASDAQ SLDB opened at $4.03 on Friday. The stock has a market capitalization of $161.04 million, a PE ratio of -1.33 and a beta of 2.01. The firm has a fifty day moving average of $3.77 and a 200-day moving average of $5.84. Solid Biosciences has a 52-week low of $2.88 and a 52-week high of $15.05.

Insider Buying and Selling at Solid Biosciences

In related news, COO David T. Howton sold 5,072 shares of the company’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 $28,403.20. Following the sale, the chief operating officer now directly owns 15,663 shares of the company’s stock, valued at $87,712.80. This represents a 24.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jessie Hanrahan sold 4,610 shares of the stock in a transaction 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 owns 14,235 shares in the company, valued at $79,716. This trade represents a 24.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,069 shares of company stock valued at $137,301 in the last ninety days. Insiders own 13.63% of the company’s stock.

Institutional Investors Weigh In On Solid Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of SLDB. China Universal Asset Management Co. Ltd. acquired a new position in Solid Biosciences in the fourth quarter worth about $34,000. Invesco Ltd. bought a new position in Solid Biosciences during the 4th quarter worth approximately $49,000. Sei Investments Co. acquired a new position in shares of Solid Biosciences in the 4th quarter worth approximately $52,000. Wells Fargo & Company MN increased its holdings in shares of Solid Biosciences by 29.4% in the 4th quarter. Wells Fargo & Company MN now owns 13,138 shares of the company’s stock valued at $53,000 after acquiring an additional 2,986 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Solid Biosciences in the 3rd quarter valued at approximately $71,000. Institutional investors own 81.46% of the company’s stock.

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.