Solid Biosciences (NASDAQ:SLDB) Earns “Buy” Rating from Chardan Capital

Solid Biosciences (NASDAQ:SLDB)‘s stock had its “buy” rating reaffirmed by analysts at Chardan Capital in a research note issued on Friday,Benzinga reports. They presently have a $15.00 target price on the stock. Chardan Capital’s price objective points to a potential upside of 110.67% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price target on shares of Solid Biosciences in a research report on Friday. Citigroup restated a “market outperform” rating on shares of Solid Biosciences in a research note on Wednesday, December 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Solid Biosciences in a research report on Thursday, January 22nd. Finally, Wedbush restated an “outperform” rating and issued a $14.00 price objective on shares of Solid Biosciences in a research report on Wednesday, March 11th. Eleven analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Solid Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

Solid Biosciences Price Performance

NASDAQ:SLDB opened at $7.12 on Friday. The company has a 50-day moving average of $6.40 and a 200 day moving average of $5.78. The firm has a market cap of $554.72 million, a PE ratio of -2.86 and a beta of 2.65. Solid Biosciences has a 1-year low of $2.41 and a 1-year high of $8.72.

Solid Biosciences (NASDAQ:SLDB) last issued its earnings results on Thursday, March 19th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.05). Sell-side analysts anticipate that Solid Biosciences will post -2.84 EPS for the current fiscal year.

Insider Transactions at Solid Biosciences

In other Solid Biosciences news, COO David T. Howton sold 7,469 shares of Solid Biosciences stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $5.82, for a total transaction of $43,469.58. Following the completion of the sale, the chief operating officer directly owned 105,077 shares in the company, valued at $611,548.14. This trade represents a 6.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin Tan sold 5,404 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $5.82, for a total transaction of $31,451.28. Following the completion of the sale, the chief financial officer directly owned 99,422 shares in the company, valued at $578,636.04. This trade represents a 5.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 597,672 shares of company stock worth $3,816,546 in the last 90 days. Insiders own 1.90% of the company’s stock.

Institutional Trading of Solid Biosciences

Several institutional investors have recently added to or reduced their stakes in SLDB. Legal & General Group Plc grew its stake in shares of 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 buying an additional 4,063 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in Solid Biosciences by 205.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,740 shares of the company’s stock worth $33,000 after acquiring an additional 4,534 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Solid Biosciences by 142.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 10,211 shares of the company’s stock valued at $63,000 after acquiring an additional 5,991 shares during the period. Creative Planning acquired a new position in Solid Biosciences in the 2nd quarter valued at about $57,000. Finally, Police & Firemen s Retirement System of New Jersey grew its position in Solid Biosciences by 233.8% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 15,113 shares of the company’s stock valued at $74,000 after acquiring an additional 10,585 shares in the last quarter. Institutional investors and hedge funds own 81.46% of the company’s stock.

Solid Biosciences Company Profile

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.