Solid Biosciences Inc. (NASDAQ:SLDB) Receives $15.14 Average PT from Analysts

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have been assigned a consensus recommendation of “Buy” from the nine research firms that are currently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $15.14.

SLDB has been the subject of several recent research reports. William Blair raised shares of Solid Biosciences to a “strong-buy” rating in a research report on Friday, August 30th. JPMorgan Chase & Co. decreased their price target on shares of Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Chardan Capital reaffirmed a “buy” rating and set a $15.00 price objective on shares of Solid Biosciences in a research report on Monday, November 11th. Barclays decreased their price objective on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $16.00 price objective on shares of Solid Biosciences in a research report on Thursday, November 7th.

Insider Buying and Selling

In other news, CEO Alexander Cumbo sold 11,114 shares of Solid Biosciences stock in a transaction dated 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. The trade was a 22.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO David T. Howton sold 5,072 shares of Solid Biosciences 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 sale, the chief operating officer now directly owns 15,663 shares in the company, valued at approximately $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 worth $135,457 in the last ninety days. 13.63% of the stock is owned by corporate insiders.

Institutional Trading of Solid Biosciences

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Solid Biosciences by 283.9% during the first quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock worth $16,578,000 after buying an additional 920,404 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Solid Biosciences in the second quarter valued at about $379,000. Vestal Point Capital LP lifted its holdings in shares of Solid Biosciences by 5.1% in the third quarter. Vestal Point Capital LP now owns 2,800,000 shares of the company’s stock valued at $19,516,000 after purchasing an additional 135,000 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Solid Biosciences in the second quarter valued at about $412,000. Finally, Millennium Management LLC lifted its holdings in shares of Solid Biosciences by 135.7% in the second quarter. Millennium Management LLC now owns 1,728,065 shares of the company’s stock valued at $9,798,000 after purchasing an additional 994,984 shares in the last quarter. Hedge funds and other institutional investors own 81.46% of the company’s stock.

Solid Biosciences Stock Performance

NASDAQ:SLDB opened at $4.96 on Tuesday. The stock has a market capitalization of $198.20 million, a P/E ratio of -1.63 and a beta of 2.01. The company has a 50 day moving average price of $5.90 and a 200 day moving average price of $7.21. Solid Biosciences has a fifty-two week low of $3.35 and a fifty-two week high of $15.05.

Solid Biosciences (NASDAQ:SLDB) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.12). Research analysts forecast that Solid Biosciences will post -2.85 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.