Solid Biosciences (NASDAQ:SLDB) Upgraded by Wedbush to Strong-Buy Rating

Wedbush upgraded shares of Solid Biosciences (NASDAQ:SLDB) to a strong-buy rating in a research note issued to investors on Thursday morning,Zacks.com reports.

Several other equities analysts have also issued reports on the company. Citizens Jmp upgraded Solid Biosciences to a “strong-buy” rating in a research report on Tuesday, December 10th. JMP Securities assumed coverage on shares of Solid Biosciences in a research note on Tuesday, December 10th. They set an “outperform” rating and a $15.00 price objective on the stock. William Blair raised shares of Solid Biosciences to a “strong-buy” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. cut 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. Finally, Chardan Capital reissued a “buy” rating and issued a $15.00 target price on shares of Solid Biosciences in a research note on Monday, November 11th. Eight equities research analysts have rated the stock with a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, Solid Biosciences presently has an average rating of “Buy” and a consensus price target of $15.22.

Solid Biosciences Trading Up 4.9 %

Solid Biosciences stock opened at $4.91 on Thursday. The company’s 50-day moving average is $5.69 and its two-hundred day moving average is $7.07. Solid Biosciences has a 1 year low of $4.33 and a 1 year high of $15.05. The company has a market cap of $196.20 million, a PE ratio of -1.62 and a beta of 2.01.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.79) earnings per share 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 year.

Insider Transactions at Solid Biosciences

In related news, insider Jessie Hanrahan sold 4,610 shares of the company’s stock in a transaction dated 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 approximately $79,716. 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 hyperlink. 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 value of $62,238.40. Following the transaction, the chief executive officer now directly owns 38,484 shares of the company’s stock, valued at $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. Insiders sold 23,719 shares of company stock valued at $135,457 in the last ninety days. 13.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp bought a new position in shares of Solid Biosciences in the 2nd quarter valued at about $392,000. Rhumbline Advisers acquired a new stake in Solid Biosciences in the 2nd quarter valued at about $191,000. Acadian Asset Management LLC bought a new position in Solid Biosciences during the second quarter worth about $379,000. Ground Swell Capital LLC acquired a new position in Solid Biosciences during the second quarter worth approximately $76,000. Finally, American Century Companies Inc. raised its stake in Solid Biosciences by 39.9% in the second quarter. American Century Companies Inc. now owns 34,557 shares of the company’s stock valued at $196,000 after buying an additional 9,853 shares during the period. Institutional investors and hedge funds 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.