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

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have received an average rating of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and eleven have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $14.8182.

A number of analysts have recently weighed in on SLDB shares. Needham & Company LLC started coverage on Solid Biosciences in a research report on Thursday, December 4th. They issued a “buy” rating and a $16.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Biosciences in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price target on Solid Biosciences from $13.00 to $11.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Citigroup restated a “market outperform” rating on shares of Solid Biosciences in a research note on Wednesday, December 17th. Finally, Barclays set a $9.00 price objective on shares of Solid Biosciences and gave the company an “overweight” rating in a research report on Tuesday, November 4th.

Insiders Place Their Bets

In other news, COO David T. Howton sold 4,932 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $5.11, for a total transaction of $25,202.52. Following the sale, the chief operating officer directly owned 32,908 shares of the company’s stock, valued at $168,159.88. The trade was a 13.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alexander Cumbo sold 10,808 shares of the company’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $5.11, for a total value of $55,228.88. Following the completion of the transaction, the chief executive officer directly owned 81,388 shares in the company, valued at approximately $415,892.68. The trade was a 11.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 26,872 shares of company stock valued at $140,114. Corporate insiders own 13.63% of the company’s stock.

Institutional Trading of Solid Biosciences

Several large investors have recently added to or reduced their stakes in SLDB. Invesco Ltd. increased its holdings in shares of Solid Biosciences by 228.3% in the first quarter. Invesco Ltd. now owns 40,180 shares of the company’s stock valued at $149,000 after purchasing an additional 27,943 shares during the period. Siren L.L.C. lifted its holdings in shares of Solid Biosciences by 97.8% during the first quarter. Siren L.L.C. now owns 7,415,905 shares of the company’s stock worth $27,439,000 after purchasing an additional 3,666,864 shares during the period. AQR Capital Management LLC purchased a new stake in Solid Biosciences in the first quarter valued at approximately $418,000. Goldman Sachs Group Inc. boosted its position in Solid Biosciences by 32.2% in the first quarter. Goldman Sachs Group Inc. now owns 180,137 shares of the company’s stock valued at $667,000 after buying an additional 43,910 shares during the last quarter. Finally, Woodline Partners LP acquired a new position in Solid Biosciences in the 1st quarter worth approximately $2,338,000. Hedge funds and other institutional investors own 81.46% of the company’s stock.

Solid Biosciences Stock Up 3.0%

Shares of Solid Biosciences stock opened at $5.49 on Wednesday. The company has a market cap of $427.73 million, a P/E ratio of -2.20 and a beta of 2.69. The firm’s 50 day moving average price is $5.23 and its 200-day moving average price is $5.59. Solid Biosciences has a 52-week low of $2.41 and a 52-week high of $7.37.

Solid Biosciences (NASDAQ:SLDB) last announced its earnings results on Monday, November 3rd. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.06). As a group, equities research analysts forecast that Solid Biosciences will post -2.84 EPS for the current fiscal year.

Solid Biosciences Company Profile

Solid Biosciences Inc is a clinical‐stage biotechnology company focused on the development of therapies for Duchenne muscular dystrophy (DMD), a rare genetic disorder characterized by progressive muscle degeneration. The company’s primary approach centers on gene replacement and gene editing technologies designed to restore functional dystrophin protein in patients lacking this critical muscle‐stabilizing protein.

Solid’s lead investigational therapy, SGT‐001, is a micro‐dystrophin gene therapy candidate engineered to deliver a shortened but functional form of the dystrophin gene using an adeno‐associated virus (AAV) vector.