Solid Biosciences (NASDAQ:SLDB) was downgraded by investment analysts at Svb Leerink from an “outperform” rating to a “market perform” rating in a note issued to investors on Friday.
SLDB has been the subject of a number of other research reports. Citigroup started coverage on Solid Biosciences in a report on Tuesday, November 6th. They set a “sell” rating and a $25.00 target price for the company. Zacks Investment Research upgraded Solid Biosciences from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Wednesday, October 17th. BTIG Research assumed coverage on Solid Biosciences in a research note on Monday, December 10th. They issued a “neutral” rating on the stock. Leerink Swann cut Solid Biosciences from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, Chardan Capital reissued a “buy” rating and issued a $15.00 target price on shares of Solid Biosciences in a research note on Thursday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. Solid Biosciences has a consensus rating of “Hold” and an average price target of $35.00.
SLDB stock traded up $0.27 during midday trading on Friday, hitting $7.46. The company had a trading volume of 945,591 shares, compared to its average volume of 281,582. The company has a market capitalization of $791.56 million and a P/E ratio of -2.59. Solid Biosciences has a 52 week low of $5.97 and a 52 week high of $54.84.
Solid Biosciences (NASDAQ:SLDB) last announced its earnings results on Tuesday, November 13th. The company reported ($0.55) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.01. On average, equities analysts forecast that Solid Biosciences will post -2.21 EPS for the current year.
In related news, COO Pedro Alvaro Amorrortu sold 9,000 shares of the stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $30.83, for a total transaction of $277,470.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Ilan Ganot sold 50,000 shares of the stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $30.84, for a total value of $1,542,000.00. The disclosure for this sale can be found here. Insiders have sold 149,240 shares of company stock worth $4,614,793 over the last ninety days.
Several institutional investors have recently added to or reduced their stakes in the stock. Partner Fund Management L.P. boosted its position in shares of Solid Biosciences by 70.4% during the third quarter. Partner Fund Management L.P. now owns 799,777 shares of the company’s stock valued at $37,733,000 after buying an additional 330,410 shares during the last quarter. Jennison Associates LLC purchased a new stake in shares of Solid Biosciences during the fourth quarter valued at $21,109,000. BlackRock Inc. boosted its position in shares of Solid Biosciences by 30.6% during the third quarter. BlackRock Inc. now owns 778,249 shares of the company’s stock valued at $36,718,000 after buying an additional 182,315 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Solid Biosciences by 82.0% during the third quarter. Vanguard Group Inc. now owns 675,180 shares of the company’s stock valued at $31,855,000 after buying an additional 304,286 shares during the last quarter. Finally, Vanguard Group Inc boosted its position in shares of Solid Biosciences by 82.0% during the third quarter. Vanguard Group Inc now owns 675,180 shares of the company’s stock valued at $31,855,000 after buying an additional 304,286 shares during the last quarter. 63.58% of the stock is currently owned by institutional investors.
About Solid Biosciences
Solid Biosciences Inc engages in identifying and developing therapies for duchenne muscular dystrophy in the United States. Its lead product candidate includes SGT-001, a gene therapy that is in Phase I/II clinical trials to restore functional dystrophin protein expression in patients' muscles. The company's product candidates also comprise SB-001, a monoclonal antibody to reduce fibrosis and inflammation.
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