Brokerages Set Solid Biosciences Inc. (NASDAQ:SLDB) Target Price at $15.30

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have received a consensus rating of “Buy” from the thirteen research firms that are covering the firm, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a buy recommendation and four have issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $15.40.

SLDB has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their target price on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. JMP Securities initiated coverage on Solid Biosciences in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $15.00 target price on the stock. Chardan Capital lifted their target price on Solid Biosciences from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday. Citizens Jmp raised Solid Biosciences to a “strong-buy” rating in a research report on Tuesday, December 10th. Finally, Wedbush initiated 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.

Insider Buying and Selling at Solid Biosciences

In other Solid Biosciences news, CEO Alexander Cumbo sold 11,114 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jessie Hanrahan sold 4,610 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 $25,816.00. Following the completion of the transaction, the insider now owns 14,235 shares of the company’s stock, valued at approximately $79,716. This represents a 24.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,069 shares of company stock worth $137,301 over the last ninety days. 13.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vestal Point Capital LP boosted its stake in shares of Solid Biosciences by 1.8% during the 4th quarter. Vestal Point Capital LP now owns 2,850,000 shares of the company’s stock worth $11,400,000 after acquiring an additional 50,000 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Solid Biosciences by 9,393.8% during the 4th quarter. JPMorgan Chase & Co. now owns 955,932 shares of the company’s stock worth $3,824,000 after acquiring an additional 945,863 shares during the period. Redmile Group LLC bought a new position in shares of Solid Biosciences during the 4th quarter worth approximately $2,461,000. Geode Capital Management LLC boosted its stake in shares of Solid Biosciences by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 509,802 shares of the company’s stock worth $2,040,000 after acquiring an additional 4,932 shares during the period. Finally, Point72 Asset Management L.P. boosted its stake 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 acquiring an additional 330,234 shares during the period. 81.46% of the stock is currently owned by institutional investors.

Solid Biosciences Price Performance

NASDAQ SLDB opened at $5.78 on Friday. The firm has a market cap of $234.55 million, a P/E ratio of -1.90 and a beta of 2.01. The stock’s 50-day moving average is $3.83 and its 200-day moving average is $5.75. Solid Biosciences has a one year low of $2.88 and a one year high of $15.05.

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.