Solid Biosciences (NASDAQ:SLDB) Given Buy Rating at HC Wainwright

Solid Biosciences (NASDAQ:SLDB)‘s stock had its “buy” rating reiterated by HC Wainwright in a research note issued on Thursday,Benzinga reports. They presently have a $16.00 target price on the stock. HC Wainwright’s price objective suggests a potential upside of 225.87% from the stock’s current price.

A number of other equities research analysts also recently weighed in on SLDB. Chardan Capital reiterated a “buy” rating and issued a $15.00 price target on shares of Solid Biosciences in a report on Monday, November 11th. JMP Securities began coverage on shares of Solid Biosciences in a research note on Tuesday. They set an “outperform” rating and a $15.00 target price for the company. Barclays reduced their price target on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 14th. Citizens Jmp raised shares of Solid Biosciences to a “strong-buy” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. cut their target price on shares of Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Nine research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Solid Biosciences currently has a consensus rating of “Buy” and an average target price of $15.22.

Solid Biosciences Price Performance

NASDAQ SLDB opened at $4.91 on Thursday. The company has a market capitalization of $196.20 million, a price-to-earnings ratio of -1.62 and a beta of 2.01. Solid Biosciences has a 12 month low of $4.33 and a 12 month high of $15.05. The company’s fifty day moving average price is $5.69 and its two-hundred day moving average price is $7.07.

Solid Biosciences (NASDAQ:SLDB) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.12). As a group, analysts anticipate that Solid Biosciences will post -2.85 EPS for the current year.

Insider Transactions at Solid Biosciences

In other news, COO David T. Howton sold 5,072 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 transaction of $28,403.20. Following the transaction, the chief operating officer now directly owns 15,663 shares of the company’s stock, valued at approximately $87,712.80. This trade represents a 24.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alexander Cumbo sold 11,114 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total transaction 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 $215,510.40. The trade was a 22.41 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,719 shares of company stock worth $135,457. Company insiders own 13.63% of the company’s stock.

Hedge Funds Weigh In On Solid Biosciences

Large investors have recently bought and sold shares of the stock. Acadian Asset Management LLC bought a new position in shares of Solid Biosciences in the second quarter valued at approximately $379,000. Vestal Point Capital LP boosted its stake in Solid Biosciences by 5.1% during the 3rd quarter. Vestal Point Capital LP now owns 2,800,000 shares of the company’s stock valued at $19,516,000 after purchasing an additional 135,000 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Solid Biosciences during the 2nd quarter valued at $412,000. Millennium Management LLC raised its stake in shares of Solid Biosciences by 135.7% in 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 in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Solid Biosciences in the second quarter valued at $639,000. Institutional investors and hedge funds own 81.46% of the company’s stock.

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.