Solid Biosciences (NASDAQ:SLDB) Now Covered by Truist Financial

Truist Financial assumed coverage on shares of Solid Biosciences (NASDAQ:SLDB) in a research report report published on Wednesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $16.00 target price on the stock.

SLDB has been the topic of several other research reports. Citizens Jmp upgraded shares of Solid Biosciences to a “strong-buy” rating in a research report on Tuesday, December 10th. JMP Securities assumed coverage on Solid Biosciences in a report on Tuesday, December 10th. They issued an “outperform” rating and a $15.00 price objective on the stock. JPMorgan Chase & Co. reduced their target price on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Wedbush assumed coverage on Solid Biosciences in a research report on Friday, December 13th. They issued an “outperform” rating and a $16.00 target price on the stock. Finally, Chardan Capital reiterated a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a research report on Monday, November 11th. Nine analysts have rated the stock with a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, Solid Biosciences currently has a consensus rating of “Buy” and an average target price of $15.30.

Solid Biosciences Trading Up 2.8 %

Shares of SLDB stock opened at $4.03 on Wednesday. Solid Biosciences has a 12-month low of $3.85 and a 12-month high of $15.05. The business’s 50 day moving average is $4.99 and its two-hundred day moving average is $6.65. The company has a market capitalization of $161.02 million, a P/E ratio of -1.33 and a beta of 2.05.

Solid Biosciences (NASDAQ:SLDB) last announced 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, research analysts predict that Solid Biosciences will post -2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Solid Biosciences

In other news, insider Jessie Hanrahan sold 4,610 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total transaction of $25,816.00. Following the transaction, the insider now owns 14,235 shares of the company’s stock, valued at approximately $79,716. The trade was a 24.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO David T. Howton sold 5,072 shares of the company’s 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 of the company’s stock, valued at $87,712.80. This represents a 24.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,775 shares of company stock worth $140,008 in the last three months. 13.63% of the stock is owned by corporate insiders.

Institutional Trading of Solid Biosciences

Institutional investors have recently made changes to their positions in the company. Vestal Point Capital LP grew its position in Solid Biosciences by 5.1% in the third quarter. Vestal Point Capital LP now owns 2,800,000 shares of the company’s stock worth $19,516,000 after acquiring an additional 135,000 shares during the period. 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 valued at $9,798,000 after purchasing an additional 994,984 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Solid Biosciences by 292.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company’s stock worth $3,088,000 after purchasing an additional 330,234 shares during the period. State Street Corp increased its position in shares of Solid Biosciences by 9.2% during the 3rd quarter. State Street Corp now owns 441,540 shares of the company’s stock worth $3,078,000 after purchasing an additional 37,130 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Solid Biosciences by 303.6% in the 2nd quarter. Renaissance Technologies LLC now owns 277,564 shares of the company’s stock valued at $1,574,000 after buying an additional 208,793 shares during the period. Hedge funds and other institutional investors 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.