Solid Biosciences’ (SLDB) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Solid Biosciences (NASDAQ:SLDB) in a report published on Friday,Benzinga reports. HC Wainwright currently has a $16.00 price target on the stock.

Other research analysts also recently issued research reports about the stock. Truist Financial assumed coverage on shares of Solid Biosciences in a research note on Wednesday. They issued a “buy” rating and a $16.00 price target for the company. Wedbush began coverage on shares of Solid Biosciences in a research report on Friday, December 13th. They set an “outperform” rating and a $16.00 price objective for the company. JMP Securities assumed coverage on shares of Solid Biosciences in a research note on Tuesday, December 10th. They set an “outperform” rating and a $15.00 target price for the company. Citizens Jmp upgraded Solid Biosciences to a “strong-buy” rating in a research note on Tuesday, December 10th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $15.00 price objective on shares of Solid Biosciences in a research report on Monday, November 11th. Nine investment analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Solid Biosciences currently has a consensus rating of “Buy” and an average target price of $15.30.

Solid Biosciences Trading Down 8.7 %

Solid Biosciences stock opened at $3.68 on Friday. The firm has a market capitalization of $147.03 million, a P/E ratio of -1.21 and a beta of 2.05. Solid Biosciences has a twelve month low of $3.42 and a twelve month high of $15.05. The stock’s fifty day simple moving average is $4.92 and its 200-day simple moving average is $6.62.

Solid Biosciences (NASDAQ:SLDB) last issued its quarterly 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). Sell-side analysts predict that Solid Biosciences will post -2.85 earnings per share for the current year.

Insider Activity

In other news, insider Jessie Hanrahan sold 4,610 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total transaction of $25,816.00. Following the completion of the sale, the insider now owns 14,235 shares in the company, valued at approximately $79,716. This represents a 24.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Alexander Cumbo sold 11,114 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were 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 in the company, valued at $215,510.40. This trade represents a 22.41 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,775 shares of company stock valued at $140,008. 13.63% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Solid Biosciences

Large investors have recently modified their holdings of the stock. Point72 DIFC Ltd acquired a new position in Solid Biosciences in the 2nd quarter valued at $58,000. The Manufacturers Life Insurance Company acquired a new position in Solid Biosciences during the 3rd quarter worth approximately $71,000. Algert Global LLC purchased a new position in shares of Solid Biosciences during the 2nd quarter worth approximately $82,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Solid Biosciences during the 2nd quarter worth approximately $92,000. Finally, MetLife Investment Management LLC lifted its holdings in shares of Solid Biosciences by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 13,699 shares of the company’s stock valued at $95,000 after buying an additional 7,719 shares during the period. Hedge funds and other institutional investors own 81.46% of the company’s stock.

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.