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

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have received a consensus recommendation of “Buy” from the thirteen analysts that are currently covering the stock, Marketbeat.com reports. Nine equities research analysts have rated the stock with a buy rating and four have issued a strong buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $15.40.

A number of analysts have weighed in on SLDB shares. HC Wainwright reiterated a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a research report on Friday, January 10th. Truist Financial started coverage on Solid Biosciences in a research report on Wednesday, January 8th. They issued a “buy” rating and a $16.00 price target on the stock. JPMorgan Chase & Co. decreased their target price on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Chardan Capital increased their target price on Solid Biosciences from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, JMP Securities started coverage on Solid Biosciences in a report on Tuesday, December 10th. They set an “outperform” rating and a $15.00 target price on the stock.

Solid Biosciences Price Performance

Shares of NASDAQ:SLDB opened at $5.78 on Friday. The business’s fifty day moving average price is $3.83 and its two-hundred day moving average price is $5.75. Solid Biosciences has a fifty-two week low of $2.88 and a fifty-two week high of $15.05. The stock has a market capitalization of $234.55 million, a price-to-earnings ratio of -1.90 and a beta of 2.01.

Insider Activity at Solid Biosciences

In other Solid Biosciences news, insider Jessie Hanrahan sold 4,610 shares of the 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 transaction, the insider now owns 14,235 shares of the company’s stock, valued at approximately $79,716. This represents a 24.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Alexander Cumbo sold 11,114 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 value of $62,238.40. Following the completion of the transaction, the chief executive officer now directly owns 38,484 shares in the company, valued at $215,510.40. The trade was a 22.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,069 shares of company stock worth $137,301 over the last 90 days. Insiders own 13.63% of the company’s stock.

Hedge Funds Weigh In On Solid Biosciences

Hedge funds have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. acquired a new position in Solid Biosciences in the fourth quarter valued at about $34,000. Corton Capital Inc. acquired a new stake in shares of Solid Biosciences during the fourth quarter worth about $41,000. Invesco Ltd. acquired a new stake in shares of Solid Biosciences during the fourth quarter worth about $49,000. Sei Investments Co. acquired a new stake in shares of Solid Biosciences during the fourth quarter worth about $52,000. Finally, Wells Fargo & Company MN raised its position in shares of Solid Biosciences by 29.4% during the fourth quarter. Wells Fargo & Company MN now owns 13,138 shares of the company’s stock worth $53,000 after purchasing an additional 2,986 shares during the period. 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.