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

Solid Biosciences (NASDAQ:SLDB)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a report issued on Friday,Benzinga reports. They presently have a $16.00 price target on the stock. HC Wainwright’s price target would suggest a potential upside of 344.44% from the stock’s previous close.

A number of other research firms have also issued reports on SLDB. JPMorgan Chase & Co. dropped their target price on shares of Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Truist Financial began coverage on shares of Solid Biosciences in a report on Wednesday. They issued a “buy” rating and a $16.00 price objective for the company. Wedbush assumed coverage on Solid Biosciences in a report on Friday, December 13th. They set an “outperform” rating and a $16.00 target price on the stock. JMP Securities began coverage on Solid Biosciences in a report on Tuesday, December 10th. They issued an “outperform” rating and a $15.00 price target for the company. Finally, Citizens Jmp raised Solid Biosciences to a “strong-buy” rating in a research note on Tuesday, December 10th. Nine investment analysts have rated the stock with a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $15.30.

Solid Biosciences Trading Down 10.7 %

NASDAQ:SLDB traded down $0.43 during trading hours on Friday, reaching $3.60. 541,169 shares of the company were exchanged, compared to its average volume of 785,630. Solid Biosciences has a twelve month low of $3.57 and a twelve month high of $15.05. The stock’s 50-day moving average is $4.92 and its 200-day moving average is $6.62. The firm has a market cap of $143.84 million, a PE ratio of -1.18 and a beta of 2.05.

Solid Biosciences (NASDAQ:SLDB) last announced its earnings results on Wednesday, November 6th. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.12). As a group, research analysts anticipate that Solid Biosciences will post -2.85 EPS for the current year.

Insiders Place Their Bets

In other Solid Biosciences news, CEO Alexander Cumbo sold 11,114 shares of the business’s stock in a transaction dated 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 in the company, valued at $215,510.40. This represents a 22.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO David T. Howton sold 5,072 shares of the firm’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 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. This represents a 24.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,775 shares of company stock valued at $140,008 over the last 90 days. 13.63% of the stock is owned by company insiders.

Institutional Investors Weigh In On Solid Biosciences

Hedge funds have recently bought and sold shares of the stock. Millennium Management LLC increased its stake in shares of Solid Biosciences by 135.7% during the second quarter. Millennium Management LLC now owns 1,728,065 shares of the company’s stock worth $9,798,000 after buying an additional 994,984 shares during the period. Point72 Asset Management L.P. increased its position in shares of Solid Biosciences by 292.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 443,010 shares of the company’s stock valued at $3,088,000 after purchasing an additional 330,234 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Solid Biosciences in the 2nd quarter valued at $1,554,000. Renaissance Technologies LLC lifted its position in shares of Solid Biosciences by 303.6% during the 2nd quarter. Renaissance Technologies LLC now owns 277,564 shares of the company’s stock worth $1,574,000 after purchasing an additional 208,793 shares during the last quarter. Finally, Vestal Point Capital LP lifted its position in shares of Solid Biosciences by 5.1% during the 3rd quarter. Vestal Point Capital LP now owns 2,800,000 shares of the company’s stock worth $19,516,000 after purchasing an additional 135,000 shares during the last quarter. Institutional investors and hedge funds 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.