Solid Biosciences Inc. (NASDAQ:SLDB) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

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

A number of equities analysts have recently issued reports on SLDB shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Biosciences in a research report on Thursday, January 22nd. JPMorgan Chase & Co. cut their price target on Solid Biosciences from $13.00 to $11.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Citigroup reissued a “market outperform” rating on shares of Solid Biosciences in a research note on Wednesday, December 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a research report on Monday, February 9th. Finally, Chardan Capital reiterated a “buy” rating and issued a $15.00 target price on shares of Solid Biosciences in a report on Tuesday, November 4th.

Insider Transactions at Solid Biosciences

In other Solid Biosciences news, insider Jessie Hanrahan sold 26,535 shares of Solid Biosciences stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $6.44, for a total transaction of $170,885.40. Following the completion of the transaction, the insider owned 82,675 shares in the company, valued at approximately $532,427. The trade was a 24.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alexander Cumbo sold 80,258 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $6.44, for a total value of $516,861.52. Following the sale, the chief executive officer directly owned 270,931 shares of the company’s stock, valued at $1,744,795.64. This represents a 22.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 620,596 shares of company stock valued at $3,933,687. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of Solid Biosciences

Institutional investors have recently made changes to their positions in the company. Bollard Group LLC bought a new stake in Solid Biosciences in the 2nd quarter worth about $1,761,000. Geode Capital Management LLC boosted its stake in shares of Solid Biosciences by 184.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,510,153 shares of the company’s stock worth $7,356,000 after buying an additional 979,294 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Solid Biosciences by 28.9% in the 2nd quarter. Franklin Resources Inc. now owns 1,599,173 shares of the company’s stock worth $7,788,000 after buying an additional 358,473 shares during the last quarter. ProShare Advisors LLC bought a new position in shares of Solid Biosciences in the second quarter valued at approximately $80,000. Finally, Knott David M Jr increased its position in shares of Solid Biosciences by 23.1% during the second quarter. Knott David M Jr now owns 162,440 shares of the company’s stock valued at $791,000 after acquiring an additional 30,440 shares during the last quarter. Institutional investors own 81.46% of the company’s stock.

Solid Biosciences Stock Up 2.1%

Shares of NASDAQ SLDB opened at $6.31 on Thursday. The firm has a market cap of $491.61 million, a PE ratio of -2.53 and a beta of 2.67. The company’s fifty day simple moving average is $5.98 and its 200 day simple moving average is $5.66. Solid Biosciences has a 12-month low of $2.41 and a 12-month high of $7.37.

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.