Solid Biosciences (NASDAQ:SLDB) Receives Buy Rating from HC Wainwright

Solid Biosciences (NASDAQ:SLDB)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They currently have a $16.00 target price on the stock. HC Wainwright’s target price points to a potential upside of 344.44% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Truist Financial assumed coverage on shares of Solid Biosciences in a research report on Wednesday. They issued a “buy” rating and a $16.00 price target on the stock. JMP Securities initiated coverage on shares of Solid Biosciences in a research report on Tuesday, December 10th. They set an “outperform” rating and a $15.00 target price on the stock. Chardan Capital reiterated a “buy” rating and issued a $15.00 price target on shares of Solid Biosciences in a research report on Monday, November 11th. JPMorgan Chase & Co. decreased their price objective on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Finally, Citizens Jmp raised Solid Biosciences to a “strong-buy” rating in a research note on Tuesday, December 10th. Nine research analysts have rated the stock with a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $15.30.

Solid Biosciences Price Performance

Shares of NASDAQ SLDB traded down $0.43 during mid-day trading on Friday, reaching $3.60. The company’s stock had a trading volume of 541,169 shares, compared to its average volume of 785,630. Solid Biosciences has a 52 week low of $3.57 and a 52 week high of $15.05. The stock has a fifty day moving average of $4.92 and a two-hundred day moving average of $6.62. The firm has a market capitalization of $143.84 million, a PE ratio of -1.18 and a beta of 2.05.

Solid Biosciences (NASDAQ:SLDB) last posted its earnings results on Wednesday, November 6th. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.12). Analysts anticipate that Solid Biosciences will post -2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO David T. Howton sold 5,072 shares of the company’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 $28,403.20. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessie Hanrahan sold 4,610 shares of the business’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 $25,816.00. Following the completion of the transaction, the insider now directly owns 14,235 shares of the company’s stock, valued at approximately $79,716. The trade was a 24.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,775 shares of company stock worth $140,008 over the last quarter. Company insiders own 13.63% of the company’s stock.

Institutional Investors Weigh In On Solid Biosciences

Several institutional investors have recently added to or reduced their stakes in SLDB. Bank of New York Mellon Corp purchased a new position in shares of Solid Biosciences in the 2nd quarter valued at approximately $392,000. Rhumbline Advisers purchased a new position in Solid Biosciences in the 2nd quarter worth $191,000. Acadian Asset Management LLC acquired a new stake in Solid Biosciences during the 2nd quarter worth about $379,000. American Century Companies Inc. grew its stake in Solid Biosciences by 39.9% during the 2nd quarter. American Century Companies Inc. now owns 34,557 shares of the company’s stock valued at $196,000 after purchasing an additional 9,853 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Solid Biosciences by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 70,827 shares of the company’s stock valued at $402,000 after purchasing an additional 5,287 shares during the last quarter. Institutional investors and hedge funds 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.