Solid Biosciences (NASDAQ:SLDB) Receives Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Solid Biosciences (NASDAQ:SLDB) in a research note released on Friday,Benzinga reports. They currently have a $16.00 target price on the stock.

A number of other research firms have also recently commented on SLDB. JMP Securities initiated coverage on shares of Solid Biosciences in a research note on Tuesday, December 10th. They set an “outperform” rating and a $15.00 target price for the company. Chardan Capital reiterated a “buy” rating and set a $15.00 price objective on shares of Solid Biosciences in a research note on Monday, November 11th. Wedbush assumed 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. Citizens Jmp raised Solid Biosciences to a “strong-buy” rating in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. reduced their price objective on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Nine equities research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $15.30.

Solid Biosciences Trading Down 8.7 %

Shares of SLDB opened at $3.68 on Friday. The firm has a market cap of $147.03 million, a P/E ratio of -1.21 and a beta of 2.05. Solid Biosciences has a 12 month low of $3.42 and a 12 month high of $15.05. The stock’s 50 day moving average is $4.92 and its two-hundred day moving average is $6.62.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly 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). Equities research analysts forecast that Solid Biosciences will post -2.85 EPS for the current year.

Insider Activity

In related news, CEO Alexander Cumbo sold 11,114 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total transaction of $62,238.40. Following the completion of the sale, the chief executive officer now directly owns 38,484 shares of the company’s stock, valued at approximately $215,510.40. This trade represents a 22.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jessie Hanrahan sold 4,610 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total transaction of $25,816.00. Following the completion of the sale, the insider now owns 14,235 shares in the company, valued at approximately $79,716. This trade represents a 24.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,775 shares of company stock valued at $140,008. 13.63% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Solid Biosciences

A number of institutional investors have recently made changes to their positions in the stock. Point72 DIFC Ltd purchased a new position in shares of Solid Biosciences during the 2nd quarter worth approximately $58,000. The Manufacturers Life Insurance Company purchased a new position in shares of Solid Biosciences during the third quarter worth $71,000. Algert Global LLC purchased a new position in shares of Solid Biosciences during the second quarter worth $82,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Solid Biosciences in the second quarter valued at $92,000. Finally, MetLife Investment Management LLC raised its holdings in shares of Solid Biosciences by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 13,699 shares of the company’s stock valued at $95,000 after buying an additional 7,719 shares during the period. 81.46% of the stock is currently owned by institutional investors and hedge funds.

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.