Solid Biosciences (NASDAQ:SLDB) Now Covered by Analysts at JMP Securities

JMP Securities started coverage on shares of Solid Biosciences (NASDAQ:SLDB) in a report published on Tuesday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $15.00 price target on the stock.

Other equities research analysts have also recently issued reports about the company. Chardan Capital reiterated a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a research report on Monday, November 11th. JPMorgan Chase & Co. lowered their target price on shares of Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. William Blair raised shares of Solid Biosciences to a “strong-buy” rating in a report on Friday, August 30th. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a report on Thursday, November 7th. Finally, Barclays dropped their price objective on Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating for the company in a research note on Wednesday, August 14th. Eight investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Solid Biosciences has a consensus rating of “Buy” and an average price target of $15.13.

Solid Biosciences Trading Down 1.2 %

Solid Biosciences stock opened at $5.05 on Tuesday. The firm has a 50 day simple moving average of $5.79 and a 200 day simple moving average of $7.13. Solid Biosciences has a 1-year low of $3.80 and a 1-year high of $15.05. The firm has a market capitalization of $201.80 million, a price-to-earnings ratio of -1.66 and a beta of 2.01.

Solid Biosciences (NASDAQ:SLDB) last announced 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, equities research analysts forecast that Solid Biosciences will post -2.85 EPS for the current year.

Insider Transactions at Solid Biosciences

In other news, insider Jessie Hanrahan sold 4,610 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total value 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. This represents a 24.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO David T. Howton sold 5,072 shares of Solid Biosciences stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total transaction of $28,403.20. Following the completion of the transaction, the chief operating officer now owns 15,663 shares in the company, valued at approximately $87,712.80. The trade was a 24.46 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 23,719 shares of company stock worth $135,457. 13.63% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Solid Biosciences

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

Solid Biosciences Company Profile

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.