Solid Biosciences Inc. (NASDAQ:SLDB) Given Average Recommendation of “Buy” by Analysts

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have been assigned an average rating of “Buy” from the thirteen analysts that are covering the firm, Marketbeat reports. Nine research analysts have rated the stock with a buy rating and four have given a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $15.40.

A number of brokerages recently weighed in on SLDB. Chardan Capital upped their price target on shares of Solid Biosciences from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 target price on shares of Solid Biosciences in a research report on Friday, January 10th. JPMorgan Chase & Co. lowered their target price on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Truist Financial initiated coverage on Solid Biosciences in a research report on Wednesday, January 8th. They set a “buy” rating and a $16.00 price target on the stock. Finally, JMP Securities began coverage on shares of Solid Biosciences in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $15.00 price objective for the company.

Insider Buying and Selling at Solid Biosciences

In related news, insider Jessie Hanrahan sold 4,610 shares of Solid Biosciences stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total value of $25,816.00. Following the completion of the transaction, the insider now directly owns 14,235 shares in the company, valued at approximately $79,716. This trade represents a 24.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 sale, the chief executive officer now directly owns 38,484 shares of the company’s stock, valued at approximately $215,510.40. This represents a 22.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,069 shares of company stock valued at $137,301 in the last three months. Corporate insiders own 13.63% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Quantum Private Wealth LLC acquired a new stake in shares of Solid Biosciences during the 3rd quarter valued at approximately $220,000. Los Angeles Capital Management LLC bought a new stake in Solid Biosciences during the third quarter valued at $293,000. Valence8 US LP acquired a new stake in shares of Solid Biosciences during the third quarter worth $110,000. The Manufacturers Life Insurance Company bought a new position in shares of Solid Biosciences in the 3rd quarter worth about $71,000. Finally, FMR LLC bought a new position in shares of Solid Biosciences in the 3rd quarter worth about $305,000. Institutional investors own 81.46% of the company’s stock.

Solid Biosciences Stock Down 7.3 %

SLDB opened at $6.00 on Friday. The company has a 50 day moving average of $3.81 and a two-hundred day moving average of $5.78. Solid Biosciences has a 52-week low of $2.88 and a 52-week high of $15.05. The company has a market cap of $239.73 million, a P/E ratio of -1.97 and a beta of 2.01.

About Solid Biosciences

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.