Solid Biosciences Inc. (NASDAQ:SLDB) Receives Average Rating of “Buy” from Analysts

Solid Biosciences Inc. (NASDAQ:SLDB) has earned an average rating of “Buy” from the twelve brokerages that are covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy recommendation and four have given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $15.22.

Several research firms recently commented on SLDB. Chardan Capital restated a “buy” rating and issued a $15.00 target price on shares of Solid Biosciences in a research report on Monday, November 11th. Wedbush assumed coverage on Solid Biosciences in a report on Friday, December 13th. They set an “outperform” rating and a $16.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Solid Biosciences in a report on Thursday, December 12th. Citizens Jmp raised shares of Solid Biosciences to a “strong-buy” rating in a report on Tuesday, December 10th. Finally, JMP Securities assumed coverage on shares of Solid Biosciences in a research note on Tuesday, December 10th. They issued an “outperform” rating and a $15.00 price objective on the stock.

Solid Biosciences Stock Performance

SLDB stock opened at $4.14 on Friday. The stock’s fifty day moving average is $5.06 and its two-hundred day moving average is $6.69. The stock has a market capitalization of $165.41 million, a price-to-earnings ratio of -1.36 and a beta of 2.01. Solid Biosciences has a 1 year low of $3.85 and a 1 year high of $15.05.

Solid Biosciences (NASDAQ:SLDB) last posted 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). As a group, analysts predict that Solid Biosciences will post -2.85 EPS for the current fiscal year.

Insider Buying and Selling at Solid Biosciences

In other Solid Biosciences news, insider Jessie Hanrahan sold 4,610 shares of the company’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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO David T. Howton sold 5,072 shares of Solid Biosciences stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total transaction of $28,403.20. Following the sale, the chief operating officer now directly owns 15,663 shares of the company’s stock, valued at $87,712.80. This trade represents a 24.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,719 shares of company stock valued at $135,457 in the last three months. 13.63% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Solid Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its stake in shares of Solid Biosciences by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 70,827 shares of the company’s stock valued at $402,000 after buying an additional 5,287 shares in the last quarter. MetLife Investment Management LLC increased its stake in shares of Solid Biosciences by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 13,699 shares of the company’s stock worth $95,000 after purchasing an additional 7,719 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Solid Biosciences by 39.9% during the 2nd quarter. American Century Companies Inc. now owns 34,557 shares of the company’s stock valued at $196,000 after purchasing an additional 9,853 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of Solid Biosciences in the 3rd quarter valued at $71,000. Finally, Point72 DIFC Ltd bought a new stake in Solid Biosciences in the second quarter worth $58,000. 81.46% of the stock is owned by hedge funds and other institutional investors.

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.