Solid Biosciences Inc. (NASDAQ:SLDB) Receives $14.82 Consensus Price Target from Brokerages

Solid Biosciences Inc. (NASDAQ:SLDB) has been given an average rating of “Moderate Buy” by the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and ten have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $14.70.

SLDB has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Biosciences in a research note on Wednesday, October 8th. Chardan Capital reissued a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a research report on Tuesday, November 4th. Wall Street Zen downgraded Solid Biosciences from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. Needham & Company LLC assumed coverage on Solid Biosciences in a research note on Thursday, December 4th. They set a “buy” rating and a $16.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their target price on shares of Solid Biosciences from $13.00 to $11.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th.

Solid Biosciences Stock Down 0.4%

NASDAQ:SLDB opened at $5.29 on Wednesday. Solid Biosciences has a 52-week low of $2.41 and a 52-week high of $7.37. The stock has a fifty day simple moving average of $5.23 and a 200-day simple moving average of $5.59. The company has a market capitalization of $412.14 million, a PE ratio of -2.12 and a beta of 2.69.

Solid Biosciences (NASDAQ:SLDB) last posted its earnings results on Monday, November 3rd. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.06). As a group, equities analysts anticipate that Solid Biosciences will post -2.84 earnings per share for the current year.

Insider Activity at Solid Biosciences

In related news, COO David T. Howton sold 4,932 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $5.11, for a total transaction of $25,202.52. Following the sale, the chief operating officer owned 32,908 shares in the company, valued at approximately $168,159.88. This trade represents a 13.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Alexander Cumbo sold 10,808 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $5.11, for a total value of $55,228.88. Following the completion of the transaction, the chief executive officer owned 81,388 shares of the company’s stock, valued at $415,892.68. This trade represents a 11.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,872 shares of company stock worth $140,114 in the last three months. Insiders own 1.90% of the company’s stock.

Institutional Trading of Solid Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Quantum Private Wealth LLC increased its stake in Solid Biosciences by 3.9% during the third quarter. Quantum Private Wealth LLC now owns 94,231 shares of the company’s stock worth $581,000 after acquiring an additional 3,500 shares during the last quarter. Legal & General Group Plc raised its position in Solid Biosciences by 208.6% in the second quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock valued at $29,000 after purchasing an additional 4,063 shares during the period. Ameritas Investment Partners Inc. lifted its stake in shares of Solid Biosciences by 205.5% during the second quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company’s stock worth $33,000 after purchasing an additional 4,534 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Solid Biosciences by 142.0% in the third quarter. Russell Investments Group Ltd. now owns 10,211 shares of the company’s stock worth $63,000 after buying an additional 5,991 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey grew its stake in shares of Solid Biosciences by 233.8% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 15,113 shares of the company’s stock valued at $74,000 after buying an additional 10,585 shares in the last quarter. 81.46% of the stock is currently owned by institutional investors and hedge funds.

About Solid Biosciences

Solid Biosciences Inc is a clinical‐stage biotechnology company focused on the development of therapies for Duchenne muscular dystrophy (DMD), a rare genetic disorder characterized by progressive muscle degeneration. The company’s primary approach centers on gene replacement and gene editing technologies designed to restore functional dystrophin protein in patients lacking this critical muscle‐stabilizing protein.

Solid’s lead investigational therapy, SGT‐001, is a micro‐dystrophin gene therapy candidate engineered to deliver a shortened but functional form of the dystrophin gene using an adeno‐associated virus (AAV) vector.