Brokerages Set Solid Biosciences Inc. (NASDAQ:SLDB) Price Target at $15.30

Shares of Solid Biosciences Inc. (NASDAQ:SLDB) have been given a consensus recommendation of “Buy” by the thirteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Nine analysts have rated the stock with a buy rating and four have given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $15.30.

Several equities analysts have commented on SLDB shares. 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. Citizens Jmp raised shares of Solid Biosciences to a “strong-buy” rating in a research note on Tuesday, December 10th. Wedbush assumed coverage on shares of Solid Biosciences in a research note on Friday, December 13th. They set an “outperform” rating and a $16.00 target price for the company. Chardan Capital reissued a “buy” rating and issued a $15.00 price target on shares of Solid Biosciences in a research report on Monday, November 11th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $16.00 price objective on shares of Solid Biosciences in a research report on Friday, January 10th.

Solid Biosciences Stock Performance

Solid Biosciences stock opened at $3.21 on Wednesday. Solid Biosciences has a fifty-two week low of $2.97 and a fifty-two week high of $15.05. The firm’s fifty day moving average price is $4.39 and its 200-day moving average price is $6.40. The stock has a market cap of $128.27 million, a P/E ratio of -1.06 and a beta of 2.05.

Solid Biosciences (NASDAQ:SLDB) last posted its quarterly 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, analysts predict that Solid Biosciences will post -2.84 earnings per share for the current year.

Insider Buying and Selling 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 sale, the insider now directly owns 14,235 shares of the company’s stock, valued at $79,716. This represents a 24.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alexander Cumbo sold 11,114 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total value of $62,238.40. Following the sale, the chief executive officer now directly owns 38,484 shares in the company, valued at $215,510.40. This represents a 22.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,925 shares of company stock worth $136,853 over the last three months. Corporate insiders own 13.63% of the company’s stock.

Institutional Trading of Solid Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Solid Biosciences in the fourth quarter valued at about $34,000. The Manufacturers Life Insurance Company acquired a new stake in Solid Biosciences in the 3rd quarter valued at about $71,000. Point72 DIFC Ltd purchased a new position in Solid Biosciences in the 2nd quarter worth approximately $58,000. MetLife Investment Management LLC lifted its stake in Solid Biosciences by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 13,699 shares of the company’s stock worth $95,000 after purchasing an additional 7,719 shares in the last quarter. Finally, Algert Global LLC acquired a new position in shares of Solid Biosciences during the 2nd quarter worth approximately $82,000. Hedge funds and other institutional investors own 81.46% of the company’s stock.

About Solid Biosciences

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.