Analysts Set Solid Biosciences Inc. (NASDAQ:SLDB) PT at $14.82

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have received an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and ten have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $14.70.

A number of analysts recently issued reports on the company. Needham & Company LLC assumed coverage on Solid Biosciences in a report on Thursday, December 4th. They issued a “buy” rating and a $16.00 price target for the company. Citigroup reiterated a “market outperform” rating on shares of Solid Biosciences in a report on Wednesday, December 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Solid Biosciences in a research report on Wednesday, October 8th. Wall Street Zen downgraded Solid Biosciences from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Finally, Barclays set a $9.00 target price on shares of Solid Biosciences and gave the stock an “overweight” rating in a report on Tuesday, November 4th.

Insider Buying and Selling

In other Solid Biosciences news, CEO Alexander Cumbo sold 10,808 shares of the company’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $5.11, for a total transaction of $55,228.88. Following the completion of the sale, the chief executive officer owned 81,388 shares in the company, valued at $415,892.68. This represents a 11.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO David T. Howton sold 4,932 shares of the stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $5.11, for a total value of $25,202.52. Following the sale, the chief operating officer directly owned 32,908 shares in the company, valued at $168,159.88. This trade represents a 13.03% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 26,872 shares of company stock worth $140,114. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Solid Biosciences

A number of hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its stake in shares of Solid Biosciences by 32.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 180,137 shares of the company’s stock worth $667,000 after acquiring an additional 43,910 shares in the last quarter. Bollard Group LLC purchased a new position in Solid Biosciences in the second quarter worth $1,761,000. Geode Capital Management LLC increased its position in shares of Solid Biosciences by 184.5% during the second quarter. Geode Capital Management LLC now owns 1,510,153 shares of the company’s stock worth $7,356,000 after purchasing an additional 979,294 shares in the last quarter. Pallas Capital Advisors LLC acquired a new position in shares of Solid Biosciences during the second quarter worth $54,000. Finally, Siren L.L.C. lifted its holdings in shares of Solid Biosciences by 97.8% during the 1st quarter. Siren L.L.C. now owns 7,415,905 shares of the company’s stock valued at $27,439,000 after purchasing an additional 3,666,864 shares during the last quarter. 81.46% of the stock is currently owned by hedge funds and other institutional investors.

Solid Biosciences Price Performance

SLDB stock opened at $5.29 on Wednesday. The company has a market capitalization of $412.14 million, a PE ratio of -2.12 and a beta of 2.69. Solid Biosciences has a 12 month low of $2.41 and a 12 month high of $7.37. The firm’s 50-day moving average is $5.23 and its 200 day moving average is $5.60.

Solid Biosciences (NASDAQ:SLDB) last released its quarterly earnings data on Monday, November 3rd. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.06). Sell-side analysts forecast that Solid Biosciences will post -2.84 EPS for the current fiscal year.

Solid Biosciences Company Profile

Solid Biosciences Inc is a clinical‐stage biotechnology company focused on the development of therapies for Duchenne muscular dystrophy (DMD), a rare genetic disorder characterized by progressive muscle degeneration. The company’s primary approach centers on gene replacement and gene editing technologies designed to restore functional dystrophin protein in patients lacking this critical muscle‐stabilizing protein.

Solid’s lead investigational therapy, SGT‐001, is a micro‐dystrophin gene therapy candidate engineered to deliver a shortened but functional form of the dystrophin gene using an adeno‐associated virus (AAV) vector.