Solid Biosciences Inc. (NASDAQ:SLDB) Receives Average Rating of “Buy” from Analysts

Solid Biosciences Inc. (NASDAQ:SLDB) has received an average recommendation of “Buy” from the five research firms that are covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $18.25.

SLDB has been the topic of several analyst reports. HC Wainwright restated a “buy” rating and issued a $16.00 price objective on shares of Solid Biosciences in a report on Thursday, March 14th. Barclays increased their target price on shares of Solid Biosciences from $8.00 to $21.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. Citigroup started coverage on shares of Solid Biosciences in a report on Friday, March 15th. They issued a “buy” rating and a $16.00 target price on the stock. William Blair restated an “outperform” rating on shares of Solid Biosciences in a report on Thursday. Finally, Piper Sandler upgraded shares of Solid Biosciences from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $8.00 to $20.00 in a report on Thursday, March 14th.

Solid Biosciences Price Performance

SLDB opened at $14.25 on Thursday. Solid Biosciences has a one year low of $1.81 and a one year high of $14.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.94 and a quick ratio of 8.94. The company’s 50 day simple moving average is $9.82 and its 200-day simple moving average is $5.83. The stock has a market capitalization of $538.08 million, a P/E ratio of -2.94 and a beta of 1.88.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings data on Wednesday, March 13th. The company reported ($1.00) earnings per share for the quarter, beating the consensus estimate of ($1.01) by $0.01. Sell-side analysts anticipate that Solid Biosciences will post -2.52 earnings per share for the current fiscal year.

Insider Activity at Solid Biosciences

In related news, CFO Kevin Tan sold 3,935 shares of the firm’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $8.20, for a total value of $32,267.00. Following the completion of the transaction, the chief financial officer now owns 9,308 shares of the company’s stock, valued at $76,325.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Perceptive Advisors Llc acquired 3,410,713 shares of the firm’s stock in a transaction dated Thursday, January 11th. The stock was bought at an average price of $5.53 per share, with a total value of $18,861,242.89. Following the transaction, the director now directly owns 6,833,539 shares in the company, valued at approximately $37,789,470.67. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Kevin Tan sold 3,935 shares of Solid Biosciences stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $8.20, for a total transaction of $32,267.00. Following the completion of the transaction, the chief financial officer now directly owns 9,308 shares of the company’s stock, valued at approximately $76,325.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,216 shares of company stock valued at $39,430. Corporate insiders own 19.33% of the company’s stock.

Institutional Trading of Solid Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of SLDB. Prudential Financial Inc. bought a new stake in shares of Solid Biosciences during the 2nd quarter worth about $28,000. Atria Wealth Solutions Inc. acquired a new stake in Solid Biosciences in the 2nd quarter worth about $33,000. Charles Schwab Investment Management Inc. bought a new stake in Solid Biosciences in the 1st quarter valued at about $47,000. CIBC Asset Management Inc bought a new stake in Solid Biosciences in the 1st quarter valued at about $57,000. Finally, Mirabella Financial Services LLP bought a new stake in Solid Biosciences in the 1st quarter valued at about $78,000. Institutional investors own 81.46% of the company’s stock.

About Solid Biosciences

Solid Biosciences Inc, a life science company, engages in developing therapies for neuromuscular and cardiac diseases in the United States. The company's lead product candidate is SGT-003, a next-generation gene transfer candidate for the treatment of Duchenne muscular dystrophy (Duchenne); AVB-202-TT, a gene therapy program for the treatment of Friedreich's ataxia; AVB-401, a gene therapy program for the treatment of BAG3-mediated dilated cardiomyopathy; and other drugs for the treatment of undisclosed cardiac diseases.