Solid Biosciences Inc (SLDB) Receives Consensus Rating of “Hold” from Analysts

Solid Biosciences Inc (NASDAQ:SLDB) has earned an average rating of “Hold” from the eleven ratings firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $43.38.

SLDB has been the topic of a number of research analyst reports. Citigroup initiated coverage on shares of Solid Biosciences in a report on Tuesday, November 6th. They issued a “sell” rating and a $25.00 price target on the stock. Zacks Investment Research upgraded shares of Solid Biosciences from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Wednesday, October 17th. Finally, BTIG Research initiated coverage on shares of Solid Biosciences in a report on Monday, December 10th. They issued a “neutral” rating on the stock.

In other Solid Biosciences news, insider Joel Solomon Zev Schneider sold 21,990 shares of the stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $30.84, for a total transaction of $678,171.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ilan Ganot sold 50,000 shares of the stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $30.84, for a total transaction of $1,542,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 149,240 shares of company stock valued at $4,614,793.

Hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc increased its holdings in shares of Solid Biosciences by 47.8% during the third quarter. Legal & General Group Plc now owns 1,825 shares of the company’s stock valued at $86,000 after acquiring an additional 590 shares in the last quarter. Partner Investment Management L.P. acquired a new position in Solid Biosciences in the 2nd quarter worth approximately $134,000. SG Americas Securities LLC acquired a new position in Solid Biosciences in the 3rd quarter worth approximately $227,000. Rhumbline Advisers acquired a new position in Solid Biosciences in the 2nd quarter worth approximately $306,000. Finally, Trexquant Investment LP acquired a new position in Solid Biosciences in the 3rd quarter worth approximately $341,000. 63.59% of the stock is owned by institutional investors and hedge funds.

SLDB stock traded down $0.90 during mid-day trading on Friday, reaching $25.71. 542,182 shares of the stock traded hands, compared to its average volume of 341,547. Solid Biosciences has a one year low of $6.83 and a one year high of $54.84. The stock has a market capitalization of $942.86 million and a price-to-earnings ratio of -8.93.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly earnings results on Tuesday, November 13th. The company reported ($0.55) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.56) by $0.01. Equities research analysts forecast that Solid Biosciences will post -2.21 earnings per share for the current fiscal year.

About Solid Biosciences

Solid Biosciences Inc engages in identifying and developing therapies for duchenne muscular dystrophy in the United States. Its lead product candidate includes SGT-001, a gene therapy that is in Phase I/II clinical trials to restore functional dystrophin protein expression in patients' muscles. The company's product candidates also comprise SB-001, a monoclonal antibody to reduce fibrosis and inflammation.

Recommended Story: Does the Step Transaction Doctrine Affect a Backdoor Roth IRA?

Analyst Recommendations for Solid Biosciences (NASDAQ:SLDB)

Receive News & Ratings for Solid Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Solid Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply