Solid Biosciences Inc. (NASDAQ:SLDB) Given Average Recommendation of “Buy” by Brokerages

Solid Biosciences Inc. (NASDAQ:SLDB) has been assigned a consensus recommendation of “Buy” from the thirteen ratings firms that are covering the stock, MarketBeat reports. Nine analysts have rated the stock with a buy recommendation and four have issued a strong buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $15.30.

Several equities analysts have weighed in on SLDB shares. Truist Financial started coverage on Solid Biosciences in a research report on Wednesday, January 8th. They issued a “buy” rating and a $16.00 target price for the company. Wedbush initiated coverage on shares of Solid Biosciences in a research note on Friday, December 13th. They set an “outperform” rating and a $16.00 target price on the stock. Chardan Capital reissued a “buy” rating and issued a $15.00 price target on shares of Solid Biosciences in a research report on Monday, November 11th. JPMorgan Chase & Co. dropped 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 note on Tuesday, November 12th. Finally, HC Wainwright reiterated a “buy” rating and issued a $16.00 price objective on shares of Solid Biosciences in a research note on Friday, January 10th.

Solid Biosciences Stock Performance

Shares of SLDB stock opened at $3.21 on Wednesday. The firm has a market cap of $128.27 million, a P/E ratio of -1.06 and a beta of 2.05. The firm’s 50 day moving average price is $4.39 and its 200-day moving average price is $6.40. Solid Biosciences has a one year low of $2.97 and a one year high of $15.05.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.12). As a group, research analysts predict that Solid Biosciences will post -2.84 EPS for the current fiscal year.

Insider Transactions at Solid Biosciences

In other news, insider Jessie Hanrahan sold 4,610 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total value of $25,816.00. Following the completion of the transaction, the insider now owns 14,235 shares in the company, valued at approximately $79,716. This represents a 24.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Alexander Cumbo sold 11,114 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 38,484 shares in the company, 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. In the last ninety days, insiders sold 25,925 shares of company stock valued at $136,853. 13.63% of the stock is currently owned by corporate insiders.

Institutional Trading of Solid Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. purchased a new position in Solid Biosciences during the 4th quarter worth approximately $34,000. Point72 DIFC Ltd acquired a new stake in shares of Solid Biosciences in the second quarter valued at approximately $58,000. The Manufacturers Life Insurance Company purchased a new position in shares of Solid Biosciences during the third quarter worth approximately $71,000. Algert Global LLC acquired a new position in shares of Solid Biosciences in the 2nd quarter valued at $82,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Solid Biosciences in the 2nd quarter valued at $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.