Solid Biosciences (NASDAQ:SLDB) Now Covered by Analysts at Wedbush

Equities researchers at Wedbush initiated coverage on shares of Solid Biosciences (NASDAQ:SLDB) in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $16.00 price target on the stock. Wedbush’s target price suggests a potential upside of 225.87% from the company’s previous close.

Several other brokerages also recently issued reports on SLDB. Citizens Jmp upgraded Solid Biosciences to a “strong-buy” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. reduced 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. HC Wainwright reiterated a “buy” rating and set a $16.00 price target on shares of Solid Biosciences in a report on Thursday. William Blair raised shares of Solid Biosciences to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Chardan Capital restated a “buy” rating and set a $15.00 target price on shares of Solid Biosciences in a research report on Monday, November 11th. Eight investment analysts have rated the stock with a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $15.22.

Solid Biosciences Trading Up 4.9 %

Shares of SLDB opened at $4.91 on Friday. Solid Biosciences has a 12-month low of $4.33 and a 12-month high of $15.05. The stock has a market cap of $196.20 million, a P/E ratio of -1.62 and a beta of 2.01. The company has a 50-day moving average of $5.69 and a two-hundred day moving average of $7.07.

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 the consensus estimate of ($0.67) by ($0.12). As a group, analysts forecast that Solid Biosciences will post -2.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO David T. Howton sold 5,072 shares of the firm’s 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 transaction, the chief operating officer now owns 15,663 shares in the company, valued at approximately $87,712.80. This trade represents a 24.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Alexander Cumbo sold 11,114 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 transaction of $62,238.40. Following the transaction, the chief executive officer now directly owns 38,484 shares in the company, valued at approximately $215,510.40. This trade represents a 22.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,719 shares of company stock valued at $135,457. Insiders own 13.63% of the company’s stock.

Institutional Investors Weigh In On Solid Biosciences

Large investors have recently made changes to their positions in the business. Point72 DIFC Ltd acquired a new position in shares of Solid Biosciences during the 2nd quarter valued at $58,000. The Manufacturers Life Insurance Company purchased a new position in Solid Biosciences in the third quarter valued at about $71,000. Ground Swell Capital LLC acquired a new position in shares of Solid Biosciences during the second quarter worth about $76,000. Algert Global LLC purchased a new stake in shares of Solid Biosciences in the second quarter worth about $82,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Solid Biosciences in the second quarter valued at about $92,000. Institutional investors and hedge funds own 81.46% of the company’s stock.

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.