Solid Biosciences (NASDAQ:SLDB) Now Covered by JMP Securities

JMP Securities began coverage on shares of Solid Biosciences (NASDAQ:SLDB) in a report published on Tuesday, Marketbeat.com reports. The brokerage issued an outperform rating and a $15.00 price objective on the stock.

SLDB has been the subject of a number of other reports. HC Wainwright reissued a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a research note on Thursday, November 7th. William Blair raised Solid Biosciences to a “strong-buy” rating in a research report on Friday, August 30th. Chardan Capital restated a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a research report on Monday, November 11th. Barclays decreased their price objective on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Eight research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $15.13.

Solid Biosciences Stock Performance

SLDB opened at $5.05 on Tuesday. The stock has a market capitalization of $201.80 million, a PE ratio of -1.66 and a beta of 2.01. The stock’s 50 day moving average price is $5.79 and its 200-day moving average price is $7.13. Solid Biosciences has a 52-week low of $3.80 and a 52-week high of $15.05.

Solid Biosciences (NASDAQ:SLDB) last issued its quarterly earnings data 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). Research analysts forecast that Solid Biosciences will post -2.85 EPS for the current fiscal year.

Insider Transactions at Solid Biosciences

In other news, COO David T. Howton sold 5,072 shares of Solid Biosciences stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 15,663 shares in the company, valued at $87,712.80. The trade was a 24.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Alexander Cumbo sold 11,114 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total transaction of $62,238.40. Following the transaction, the chief executive officer now owns 38,484 shares in the company, valued at approximately $215,510.40. This trade represents a 22.41 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,719 shares of company stock worth $135,457. Corporate insiders own 13.63% of the company’s stock.

Institutional Investors Weigh In On Solid Biosciences

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Solid Biosciences by 283.9% in the first quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock worth $16,578,000 after acquiring an additional 920,404 shares during the period. Acadian Asset Management LLC purchased a new position in Solid Biosciences in the second quarter worth about $379,000. Vestal Point Capital LP grew its stake in shares of Solid Biosciences by 5.1% during the 3rd 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 during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Solid Biosciences during the 2nd quarter valued at about $412,000. Finally, Millennium Management LLC lifted its stake in shares of Solid Biosciences by 135.7% in the 2nd quarter. Millennium Management LLC now owns 1,728,065 shares of the company’s stock worth $9,798,000 after purchasing an additional 994,984 shares during the period. 81.46% of the stock is currently owned by hedge funds and other institutional investors.

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.