Solid Biosciences (NASDAQ:SLDB) Rating Increased to Strong-Buy at Citizens Jmp

Citizens Jmp upgraded shares of Solid Biosciences (NASDAQ:SLDB) to a strong-buy rating in a report released on Tuesday morning,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. William Blair upgraded shares of Solid Biosciences to a “strong-buy” rating in a research note on Friday, August 30th. Barclays cut their target price on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating for the company in a research note on Wednesday, August 14th. HC Wainwright reiterated a “buy” rating and set a $16.00 price target on shares of Solid Biosciences in a report on Thursday, November 7th. JPMorgan Chase & Co. dropped their price objective on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Finally, JMP Securities began coverage on Solid Biosciences in a research report on Tuesday. They issued an “outperform” rating and a $15.00 price objective for the company. Eight analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $15.13.

Solid Biosciences Stock Performance

SLDB opened at $5.05 on Tuesday. The business’s 50-day simple moving average is $5.79 and its 200 day simple moving average is $7.13. Solid Biosciences has a 52-week low of $3.80 and a 52-week high of $15.05. The firm has a market capitalization of $201.80 million, a PE ratio of -1.66 and a beta of 2.01.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.12). On average, research analysts forecast that Solid Biosciences will post -2.85 earnings per share for the current year.

Insider Activity

In other Solid Biosciences news, CEO Alexander Cumbo sold 11,114 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total transaction of $62,238.40. Following the transaction, the chief executive officer now owns 38,484 shares in the company, valued at $215,510.40. This represents a 22.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jessie Hanrahan sold 4,610 shares of Solid Biosciences stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total transaction of $25,816.00. Following the completion of the sale, the insider now 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. Over the last quarter, insiders have sold 23,719 shares of company stock valued at $135,457. 13.63% of the stock is owned by insiders.

Institutional Trading of Solid Biosciences

A number of institutional investors have recently modified their holdings of SLDB. Barclays PLC increased its holdings in Solid Biosciences by 412.1% in the 3rd quarter. Barclays PLC now owns 62,856 shares of the company’s stock valued at $439,000 after buying an additional 50,582 shares during the period. XTX Topco Ltd acquired a new stake in shares of Solid Biosciences during the 3rd quarter worth approximately $121,000. Wellington Management Group LLP increased its stake in Solid Biosciences by 183.6% in the third quarter. Wellington Management Group LLP now owns 119,804 shares of the company’s stock valued at $835,000 after acquiring an additional 77,564 shares during the last quarter. State Street Corp raised its position in Solid Biosciences by 9.2% during the third quarter. State Street Corp now owns 441,540 shares of the company’s stock valued at $3,078,000 after purchasing an additional 37,130 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in Solid Biosciences by 292.8% during the third quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company’s stock worth $3,088,000 after purchasing an additional 330,234 shares during the last quarter. 81.46% of the stock is currently owned by institutional investors.

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.