Solid Biosciences Inc. (NASDAQ:SLDB) Receives $15.30 Average PT from Analysts

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have been assigned an average rating of “Buy” from the thirteen research firms that are currently covering the firm, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a buy recommendation and four have given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $15.40.

Several equities analysts recently weighed in on SLDB shares. Citizens Jmp raised Solid Biosciences to a “strong-buy” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. lowered their target price on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. JMP Securities started coverage on Solid Biosciences in a research note on Tuesday, December 10th. They set an “outperform” rating and a $15.00 price target for the company. Chardan Capital increased their price objective on shares of Solid Biosciences from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, HC Wainwright restated a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a report on Friday, January 10th.

Solid Biosciences Trading Down 7.3 %

Shares of SLDB opened at $6.00 on Friday. The firm’s 50-day moving average is $3.81 and its two-hundred day moving average is $5.78. Solid Biosciences has a twelve month low of $2.88 and a twelve month high of $15.05. The firm has a market capitalization of $239.73 million, a P/E ratio of -1.97 and a beta of 2.01.

Insider Activity

In related news, insider Jessie Hanrahan sold 4,610 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was 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 directly owns 14,235 shares in the company, valued at approximately $79,716. This represents a 24.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 value of $62,238.40. Following the completion of the sale, the chief executive officer now directly owns 38,484 shares in the company, valued at approximately $215,510.40. The trade was a 22.41 % 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 valued at $137,301 over the last 90 days. Insiders own 13.63% of the company’s stock.

Institutional Investors Weigh In On Solid Biosciences

A number of institutional investors have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. purchased a new position in Solid Biosciences during the fourth quarter worth approximately $34,000. Corton Capital Inc. purchased a new position in shares of Solid Biosciences in the 4th quarter worth $41,000. Invesco Ltd. acquired a new position in Solid Biosciences in the fourth quarter valued at $49,000. Sei Investments Co. purchased a new stake in Solid Biosciences during the fourth quarter valued at about $52,000. Finally, Wells Fargo & Company MN grew its position in Solid Biosciences by 29.4% during the fourth quarter. Wells Fargo & Company MN now owns 13,138 shares of the company’s stock valued at $53,000 after acquiring an additional 2,986 shares during the period. 81.46% of the stock is currently 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.