Solid Biosciences Inc (NASDAQ:SLDB) has been given a consensus rating of “Hold” by the ten brokerages that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $42.63.
SLDB has been the subject of a number of recent research reports. Citigroup initiated coverage on shares of Solid Biosciences in a report on Tuesday, November 6th. They issued a “sell” rating and a $25.00 price objective for the company. Zacks Investment Research raised shares of 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. Finally, Credit Suisse Group initiated coverage on shares of Solid Biosciences in a report on Thursday, September 6th. They issued a “neutral” rating and a $38.00 price objective for the company.
NASDAQ SLDB traded up $0.61 during trading on Friday, reaching $32.26. The company’s stock had a trading volume of 539 shares, compared to its average volume of 253,118. The company has a market capitalization of $1.12 billion and a P/E ratio of -11.20. Solid Biosciences has a 12 month low of $6.83 and a 12 month high of $54.84.
Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings data on Tuesday, November 13th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.56) by $0.01. As a group, research analysts forecast that Solid Biosciences will post -2.21 earnings per share for the current fiscal year.
In other news, CEO Ilan Ganot sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $30.84, for a total transaction of $1,542,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joel Solomon Zev Schneider sold 21,990 shares of the company’s stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $30.84, for a total transaction of $678,171.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 81,090 shares of company stock valued at $2,501,142.
Institutional investors have recently modified their holdings of the company. Boxer Capital LLC increased its position in Solid Biosciences by 270.7% during the 2nd quarter. Boxer Capital LLC now owns 2,780,000 shares of the company’s stock worth $99,051,000 after purchasing an additional 2,030,000 shares in the last quarter. Partner Fund Management L.P. increased its position in Solid Biosciences by 70.4% during the 3rd quarter. Partner Fund Management L.P. now owns 799,777 shares of the company’s stock worth $37,733,000 after purchasing an additional 330,410 shares in the last quarter. BlackRock Inc. increased its position in Solid Biosciences by 30.6% during the 3rd quarter. BlackRock Inc. now owns 778,249 shares of the company’s stock worth $36,718,000 after purchasing an additional 182,315 shares in the last quarter. Vanguard Group Inc. increased its position in Solid Biosciences by 82.0% during the 3rd quarter. Vanguard Group Inc. now owns 675,180 shares of the company’s stock worth $31,855,000 after purchasing an additional 304,286 shares in the last quarter. Finally, Janus Henderson Group PLC acquired a new position in Solid Biosciences during the 3rd quarter worth approximately $24,288,000. 63.69% of the stock is owned by institutional investors.
Solid Biosciences Company Profile
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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