HC Wainwright Reaffirms Buy Rating for Solid Biosciences (NASDAQ:SLDB)

HC Wainwright reiterated their buy rating on shares of Solid Biosciences (NASDAQ:SLDB) in a report released on Thursday,Benzinga reports. HC Wainwright currently has a $16.00 price target on the stock.

Several other analysts have also commented on SLDB. JPMorgan Chase & Co. decreased their price objective on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Barclays cut their price objective on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. Chardan Capital reiterated a “buy” rating and issued a $15.00 target price on shares of Solid Biosciences in a research note on Monday, November 11th. William Blair raised shares of Solid Biosciences to a “strong-buy” rating in a report on Friday, August 30th. Finally, JMP Securities initiated coverage on shares of Solid Biosciences in a report on Tuesday, December 10th. They set an “outperform” rating and a $15.00 price objective on the stock. Eight investment analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, Solid Biosciences currently has a consensus rating of “Buy” and a consensus target price of $15.22.

Solid Biosciences Stock Performance

Shares of Solid Biosciences stock opened at $4.91 on Thursday. The company has a market capitalization of $196.20 million, a PE ratio of -1.62 and a beta of 2.01. The company has a 50-day simple moving average of $5.69 and a two-hundred day simple moving average of $7.07. Solid Biosciences has a one year low of $4.33 and a one year high of $15.05.

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

Insider Activity

In related news, CEO Alexander Cumbo sold 11,114 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 38,484 shares of the company’s stock, valued at approximately $215,510.40. This represents a 22.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO David T. Howton sold 5,072 shares of Solid Biosciences stock in a transaction on Tuesday, December 3rd. The shares were 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 directly owns 15,663 shares of the company’s stock, valued at $87,712.80. The trade was a 24.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,719 shares of company stock valued at $135,457 in the last quarter. 13.63% of the stock is currently owned by company insiders.

Institutional Trading of Solid Biosciences

Several institutional investors have recently bought and sold shares of SLDB. Bank of New York Mellon Corp purchased a new position in shares of Solid Biosciences during the 2nd quarter valued at approximately $392,000. Rhumbline Advisers acquired a new stake in shares of Solid Biosciences in the second quarter valued at about $191,000. Acadian Asset Management LLC purchased a new stake in shares of Solid Biosciences during the second quarter worth about $379,000. Ground Swell Capital LLC purchased a new position in Solid Biosciences in the 2nd quarter valued at about $76,000. Finally, American Century Companies Inc. boosted its holdings in Solid Biosciences by 39.9% in the 2nd quarter. American Century Companies Inc. now owns 34,557 shares of the company’s stock worth $196,000 after buying an additional 9,853 shares during the last quarter. 81.46% of the stock is owned by institutional investors and hedge funds.

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.