Solid Biosciences (NASDAQ:SLDB) Now Covered by Analysts at Truist Financial

Truist Financial started coverage on shares of Solid Biosciences (NASDAQ:SLDB) in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $16.00 price objective on the stock.

Several other brokerages have also recently issued reports on SLDB. JMP Securities initiated coverage on shares of Solid Biosciences in a report on Tuesday, December 10th. They set an “outperform” rating and a $15.00 target price on the stock. HC Wainwright reiterated a “buy” rating and set a $16.00 price objective on shares of Solid Biosciences in a research note on Thursday, December 12th. Wedbush assumed coverage on shares of Solid Biosciences in a research note on Friday, December 13th. They issued an “outperform” rating and a $16.00 price objective for the company. Chardan Capital reaffirmed a “buy” rating and set a $15.00 target price on shares of Solid Biosciences in a research report on Monday, November 11th. Finally, Citizens Jmp upgraded Solid Biosciences to a “strong-buy” rating in a report on Tuesday, December 10th. Nine equities research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $15.30.

Solid Biosciences Stock Performance

Shares of NASDAQ SLDB opened at $4.03 on Wednesday. Solid Biosciences has a 52-week low of $3.85 and a 52-week high of $15.05. The firm has a market capitalization of $161.02 million, a price-to-earnings ratio of -1.33 and a beta of 2.05. The stock has a 50 day moving average price of $4.99 and a 200 day moving average price of $6.65.

Solid Biosciences (NASDAQ:SLDB) last issued its earnings results on Wednesday, November 6th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.12). Analysts forecast that Solid Biosciences will post -2.85 earnings per share for the current year.

Insider Activity at Solid Biosciences

In related news, COO David T. Howton sold 5,072 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total value of $28,403.20. Following the transaction, the chief operating officer now directly owns 15,663 shares of the company’s stock, valued at $87,712.80. This represents a 24.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Alexander Cumbo sold 11,114 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total value of $62,238.40. Following the completion of the transaction, the chief executive officer now owns 38,484 shares of the company’s stock, valued at $215,510.40. This trade represents a 22.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,775 shares of company stock valued at $140,008 in the last ninety days. Corporate insiders own 13.63% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Vestal Point Capital LP lifted its holdings in shares of Solid Biosciences by 5.1% during the third quarter. Vestal Point Capital LP now owns 2,800,000 shares of the company’s stock worth $19,516,000 after purchasing an additional 135,000 shares during the period. Millennium Management LLC raised its position in Solid Biosciences by 135.7% during the 2nd quarter. Millennium Management LLC now owns 1,728,065 shares of the company’s stock worth $9,798,000 after buying an additional 994,984 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in Solid Biosciences by 292.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company’s stock valued at $3,088,000 after acquiring an additional 330,234 shares during the period. State Street Corp boosted its holdings in shares of Solid Biosciences by 9.2% in the 3rd quarter. State Street Corp now owns 441,540 shares of the company’s stock valued at $3,078,000 after acquiring an additional 37,130 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Solid Biosciences by 303.6% in the second quarter. Renaissance Technologies LLC now owns 277,564 shares of the company’s stock worth $1,574,000 after acquiring an additional 208,793 shares during the period. 81.46% of the stock is owned by institutional investors and hedge funds.

Solid Biosciences Company Profile

Solid Biosciences Inc, a life science company, develops therapies for neuromuscular and cardiac diseases in the United States. The company's lead product candidate is SGT-003, a gene transfer candidate for the treatment of Duchenne muscular dystrophy; and SGT-501 to treat Catecholaminergic polymorphic ventricular tachycardia.