Brokerages Set Solid Biosciences Inc. (NASDAQ:SLDB) Target Price at $15.22

Solid Biosciences Inc. (NASDAQ:SLDB) has been assigned a consensus recommendation of “Buy” from the twelve ratings firms that are covering the firm, MarketBeat reports. Eight investment analysts have rated the stock with a buy rating and four have issued a strong buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $15.22.

Several research firms have recently commented on SLDB. HC Wainwright reissued a “buy” rating and issued a $16.00 price target on shares of Solid Biosciences in a report on Thursday, December 12th. Wedbush assumed coverage on Solid Biosciences in a report on Friday, December 13th. They issued an “outperform” rating and a $16.00 target price for the company. JMP Securities started coverage on shares of Solid Biosciences in a research note on Tuesday, December 10th. They set an “outperform” rating and a $15.00 price target on the stock. Chardan Capital reiterated a “buy” rating and issued a $15.00 price target on shares of Solid Biosciences in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th.

Insider Buying and Selling at Solid Biosciences

In other Solid Biosciences news, COO David T. Howton sold 5,072 shares of the firm’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 $28,403.20. Following the sale, the chief operating officer now directly owns 15,663 shares of the company’s stock, valued at $87,712.80. This trade represents a 24.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Alexander Cumbo sold 11,114 shares of the business’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 $62,238.40. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 23,719 shares of company stock valued at $135,457 over the last quarter. Corporate insiders own 13.63% of the company’s stock.

Institutional Trading of Solid Biosciences

A number of hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company acquired a new stake in Solid Biosciences in the 3rd quarter worth about $71,000. Point72 DIFC Ltd purchased a new position in shares of Solid Biosciences during the 2nd quarter worth about $58,000. Ground Swell Capital LLC acquired a new stake in shares of Solid Biosciences in the second quarter worth approximately $76,000. MetLife Investment Management LLC grew its holdings in Solid Biosciences by 129.1% in the third quarter. MetLife Investment Management LLC now owns 13,699 shares of the company’s stock valued at $95,000 after purchasing an additional 7,719 shares during the period. Finally, Algert Global LLC acquired a new position in Solid Biosciences during the second quarter worth approximately $82,000. Institutional investors and hedge funds own 81.46% of the company’s stock.

Solid Biosciences Stock Performance

Shares of Solid Biosciences stock opened at $4.07 on Friday. The company has a market cap of $162.62 million, a P/E ratio of -1.34 and a beta of 2.01. The firm has a fifty day moving average of $5.19 and a two-hundred day moving average of $6.78. Solid Biosciences has a one year low of $3.90 and a one year high of $15.05.

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). As a group, equities analysts predict that Solid Biosciences will post -2.85 earnings per share for the current year.

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.