Solid Biosciences Inc. (NASDAQ:SLDB) Receives $16.09 Consensus PT from Analysts

Solid Biosciences Inc. (NASDAQ:SLDB) has earned a consensus rating of “Moderate Buy” from the thirteen research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $16.0909.

Several brokerages have recently commented on SLDB. Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 price target on shares of Solid Biosciences in a research note on Friday, March 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Solid Biosciences in a research note on Thursday, January 22nd. Chardan Capital reaffirmed a “buy” rating and issued a $15.00 price target on shares of Solid Biosciences in a research note on Friday, March 20th. Wedbush reissued an “outperform” rating and set a $14.00 target price on shares of Solid Biosciences in a research note on Wednesday, March 11th. Finally, Wall Street Zen lowered Solid Biosciences from a “hold” rating to a “sell” rating in a research note on Sunday.

Insider Activity

In related news, insider Gabriel Brooks sold 28,335 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $6.44, for a total transaction of $182,477.40. Following the transaction, the insider owned 96,708 shares of the company’s stock, valued at approximately $622,799.52. This represents a 22.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Alexander Cumbo sold 80,258 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $6.44, for a total value of $516,861.52. Following the transaction, the chief executive officer directly owned 270,931 shares in the company, valued at approximately $1,744,795.64. The trade was a 22.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 590,915 shares of company stock worth $3,780,768 in the last quarter. Insiders own 13.63% of the company’s stock.

Institutional Investors Weigh In On Solid Biosciences

Several large investors have recently bought and sold shares of SLDB. MetLife Investment Management LLC increased its holdings in Solid Biosciences by 10.4% in the fourth quarter. MetLife Investment Management LLC now owns 33,202 shares of the company’s stock valued at $187,000 after buying an additional 3,124 shares during the last quarter. Quantum Private Wealth LLC grew its stake in Solid Biosciences by 3.9% during the 3rd quarter. Quantum Private Wealth LLC now owns 94,231 shares of the company’s stock worth $581,000 after buying an additional 3,500 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Solid Biosciences by 208.6% during the second quarter. Legal & General Group Plc now owns 6,011 shares of the company’s stock worth $29,000 after purchasing an additional 4,063 shares during the period. Intech Investment Management LLC lifted its holdings in shares of Solid Biosciences by 15.2% during the fourth quarter. Intech Investment Management LLC now owns 34,485 shares of the company’s stock worth $194,000 after purchasing an additional 4,539 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Solid Biosciences by 142.0% during the third quarter. Russell Investments Group Ltd. now owns 10,211 shares of the company’s stock worth $63,000 after purchasing an additional 5,991 shares during the period. Hedge funds and other institutional investors own 81.46% of the company’s stock.

Solid Biosciences Stock Performance

NASDAQ SLDB opened at $8.63 on Friday. The stock’s fifty day moving average is $7.04 and its two-hundred day moving average is $6.10. The firm has a market capitalization of $849.11 million, a P/E ratio of -4.27 and a beta of 2.58. Solid Biosciences has a fifty-two week low of $2.41 and a fifty-two week high of $8.87.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings data on Thursday, March 19th. The company reported ($0.50) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.01. As a group, sell-side analysts forecast that Solid Biosciences will post -2.84 EPS for the current year.

Solid Biosciences Company Profile

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.