Solid Biosciences Inc. (NASDAQ:SLDB) Given Consensus Recommendation of “Buy” by Analysts

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have been assigned a consensus rating of “Buy” from the thirteen ratings firms that are covering the company, Marketbeat.com reports. Nine investment analysts have rated the stock with a buy recommendation and four have issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $15.30.

SLDB has been the subject of several research reports. Wedbush began coverage on Solid Biosciences in a research note on Friday, December 13th. They issued an “outperform” rating and a $16.00 target price for the company. JPMorgan Chase & Co. decreased their price objective on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Chardan Capital reiterated a “buy” rating and issued a $15.00 target price on shares of Solid Biosciences in a report on Monday, November 11th. Truist Financial initiated coverage on shares of Solid Biosciences in a research note on Wednesday, January 8th. They set a “buy” rating and a $16.00 price target for the company. Finally, JMP Securities initiated coverage on shares of Solid Biosciences in a report on Tuesday, December 10th. They set an “outperform” rating and a $15.00 price objective on the stock.

Insider Activity at Solid Biosciences

In other Solid Biosciences news, CEO Alexander Cumbo sold 11,114 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 value of $62,238.40. Following the transaction, the chief executive officer now directly owns 38,484 shares in the company, valued at $215,510.40. The trade was a 22.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO David T. Howton sold 5,072 shares of the firm’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 $28,403.20. Following the completion of the sale, the chief operating officer now directly owns 15,663 shares of the company’s stock, valued at $87,712.80. This represents a 24.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,925 shares of company stock valued at $136,853 over the last ninety days. Corporate insiders own 13.63% of the company’s stock.

Institutional Investors Weigh In On Solid Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. purchased a new position in shares of Solid Biosciences in the fourth quarter worth about $34,000. Point72 DIFC Ltd purchased a new position in Solid Biosciences in the 2nd quarter valued at approximately $58,000. The Manufacturers Life Insurance Company purchased a new position in Solid Biosciences in the 3rd quarter valued at approximately $71,000. Algert Global LLC bought a new stake in Solid Biosciences during the 2nd quarter valued at $82,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Solid Biosciences during the second quarter worth $92,000. 81.46% of the stock is currently owned by institutional investors.

Solid Biosciences Stock Performance

Solid Biosciences stock opened at $3.28 on Wednesday. The stock has a market capitalization of $131.07 million, a price-to-earnings ratio of -1.08 and a beta of 2.05. Solid Biosciences has a 52-week low of $2.92 and a 52-week high of $15.05. The stock’s 50 day moving average price is $4.32 and its two-hundred day moving average price is $6.33.

Solid Biosciences (NASDAQ:SLDB) last issued its earnings results on Wednesday, November 6th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.12). On average, equities research analysts forecast that Solid Biosciences will post -2.84 EPS for the current year.

About Solid Biosciences

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.