Solid Biosciences Inc. (NASDAQ:SLDB) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have been given an average rating of “Moderate Buy” by the eleven research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and ten have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $14.70.

A number of brokerages have commented on SLDB. Barclays set a $9.00 price objective on Solid Biosciences and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a report on Wednesday, January 14th. Chardan Capital reissued a “buy” rating and set a $15.00 price objective on shares of Solid Biosciences in a report on Tuesday, November 4th. Wall Street Zen downgraded shares of Solid Biosciences from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. Finally, Citigroup reiterated a “market outperform” rating on shares of Solid Biosciences in a research report on Wednesday, December 17th.

Solid Biosciences Trading Down 2.1%

Shares of NASDAQ SLDB opened at $6.46 on Friday. Solid Biosciences has a 1-year low of $2.41 and a 1-year high of $7.37. The company has a 50-day moving average of $5.72 and a two-hundred day moving average of $5.70. The company has a market cap of $503.30 million, a PE ratio of -2.59 and a beta of 2.69.

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

Insiders Place Their Bets

In other Solid Biosciences news, COO David T. Howton sold 4,932 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 transaction of $25,202.52. Following the completion of the sale, the chief operating officer owned 32,908 shares in the company, valued at approximately $168,159.88. The trade was a 13.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Alexander Cumbo sold 10,808 shares of the 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. This trade represents a 11.72% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 29,872 shares of company stock valued at $154,178. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Solid Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vestal Point Capital LP increased its stake in shares of Solid Biosciences by 97.7% in the 3rd quarter. Vestal Point Capital LP now owns 2,975,000 shares of the company’s stock valued at $18,356,000 after acquiring an additional 1,470,000 shares during the last quarter. Nantahala Capital Management LLC boosted its stake in Solid Biosciences by 505.4% during the 2nd quarter. Nantahala Capital Management LLC now owns 1,703,336 shares of the company’s stock worth $8,295,000 after acquiring an additional 1,421,968 shares during the last quarter. Alyeska Investment Group L.P. grew its holdings in Solid Biosciences by 2.6% during the third quarter. Alyeska Investment Group L.P. now owns 1,682,805 shares of the company’s stock valued at $10,383,000 after purchasing an additional 41,984 shares during the period. Franklin Resources Inc. increased its stake in Solid Biosciences by 28.9% in the second quarter. Franklin Resources Inc. now owns 1,599,173 shares of the company’s stock valued at $7,788,000 after purchasing an additional 358,473 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Solid Biosciences by 184.5% in the second quarter. Geode Capital Management LLC now owns 1,510,153 shares of the company’s stock valued at $7,356,000 after purchasing an additional 979,294 shares in the last quarter. Institutional investors own 81.46% of the company’s stock.

About Solid Biosciences

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.