Solid Biosciences’ (SLDB) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Solid Biosciences (NASDAQ:SLDB) in a research report sent to investors on Friday morning,Benzinga reports. HC Wainwright currently has a $16.00 price target on the stock.

Several other research firms have also commented on SLDB. Truist Financial began coverage on shares of Solid Biosciences in a report on Wednesday, January 8th. They issued a “buy” rating and a $16.00 target price on the stock. Chardan Capital reissued a “buy” rating and issued a $15.00 price objective on shares of Solid Biosciences in a research note on Monday, November 11th. Wedbush began coverage on Solid Biosciences in a research note on Friday, December 13th. They set an “outperform” rating and a $16.00 target price for the company. Citizens Jmp upgraded Solid Biosciences to a “strong-buy” rating in a research note on Tuesday, December 10th. Finally, JMP Securities initiated coverage on Solid Biosciences in a research report on Tuesday, December 10th. They set an “outperform” rating and a $15.00 price objective for the company. Nine investment analysts have rated the stock with a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $15.30.

Solid Biosciences Price Performance

Shares of NASDAQ:SLDB opened at $3.68 on Friday. The business’s 50 day simple moving average is $4.88 and its 200 day simple moving average is $6.60. Solid Biosciences has a 1 year low of $3.42 and a 1 year high of $15.05. The company has a market capitalization of $147.03 million, a P/E ratio of -1.21 and a beta of 2.05.

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

Insider Buying and Selling at Solid Biosciences

In other Solid Biosciences news, CEO Alexander Cumbo sold 11,114 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $5.60, for a total value of $62,238.40. Following the completion of the transaction, the chief executive officer now directly owns 38,484 shares in the company, valued at approximately $215,510.40. This represents a 22.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 transaction, the chief operating officer now owns 15,663 shares in the company, valued at approximately $87,712.80. This trade represents a 24.46 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,775 shares of company stock worth $140,008. 13.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Solid Biosciences

Institutional investors have recently made changes to their positions in the stock. Point72 DIFC Ltd acquired a new position in shares of Solid Biosciences in the second quarter worth approximately $58,000. The Manufacturers Life Insurance Company bought a new position in Solid Biosciences during the 3rd quarter worth approximately $71,000. Algert Global LLC acquired a new position in shares of Solid Biosciences in the 2nd quarter worth approximately $82,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Solid Biosciences in the 2nd quarter valued at $92,000. Finally, MetLife Investment Management LLC increased its position in shares of Solid Biosciences by 129.1% during the third quarter. MetLife Investment Management LLC now owns 13,699 shares of the company’s stock worth $95,000 after buying an additional 7,719 shares during the period. 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.