Solid Biosciences Inc. (NASDAQ:SLDB) Receives Consensus Rating of “Buy” from Analysts

Solid Biosciences Inc. (NASDAQ:SLDB) has earned a consensus rating of “Buy” from the thirteen ratings firms that are covering the stock, MarketBeat Ratings reports. Nine analysts have rated the stock with a buy recommendation and four have assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $15.30.

A number of brokerages have recently issued reports on SLDB. Citizens Jmp raised Solid Biosciences to a “strong-buy” rating in a research note on Tuesday, December 10th. HC Wainwright reissued a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a research note on Friday, January 10th. Truist Financial started coverage on Solid Biosciences in a research note on Wednesday, January 8th. They issued a “buy” rating and a $16.00 price objective for the company. Chardan Capital reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Solid Biosciences in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. dropped their price objective on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th.

Insider Buying and Selling at Solid Biosciences

In other news, insider Jessie Hanrahan sold 4,610 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total transaction of $25,816.00. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO David T. Howton sold 5,072 shares of the firm’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 $28,403.20. Following the sale, the chief operating officer now owns 15,663 shares in the company, valued at $87,712.80. This trade represents a 24.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,925 shares of company stock worth $136,853. 13.63% of the stock is owned by insiders.

Institutional Investors Weigh In On Solid Biosciences

Hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company acquired a new stake in shares of Solid Biosciences during the third quarter worth $71,000. Point72 DIFC Ltd acquired a new stake in shares of Solid Biosciences during the second quarter worth $58,000. MetLife Investment Management LLC boosted its holdings in Solid Biosciences by 129.1% in the third quarter. MetLife Investment Management LLC now owns 13,699 shares of the company’s stock valued at $95,000 after acquiring an additional 7,719 shares during the last quarter. Algert Global LLC acquired a new position in Solid Biosciences in the second quarter valued at $82,000. Finally, Valence8 US LP acquired a new position in Solid Biosciences in the third quarter valued at $110,000. Institutional investors and hedge funds own 81.46% of the company’s stock.

Solid Biosciences Trading Down 0.3 %

Shares of SLDB stock opened at $3.26 on Wednesday. The company has a market cap of $130.25 million, a price-to-earnings ratio of -1.07 and a beta of 2.05. The stock has a 50 day simple moving average of $4.56 and a 200-day simple moving average of $6.49. Solid Biosciences has a 12-month low of $3.03 and a 12-month high of $15.05.

Solid Biosciences (NASDAQ:SLDB) last issued 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). On average, equities analysts forecast that Solid Biosciences will post -2.84 earnings per share for the current fiscal year.

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.