Solid Biosciences (NASDAQ:SLDB) Research Coverage Started at Truist Financial

Truist Financial assumed coverage on shares of Solid Biosciences (NASDAQ:SLDB) in a research note released on Wednesday, MarketBeat Ratings reports. The firm issued a buy rating and a $16.00 price objective on the stock.

Several other brokerages also recently weighed in on SLDB. Wedbush began coverage on Solid Biosciences in a research report on Friday, December 13th. They set an “outperform” rating and a $16.00 price objective for the company. HC Wainwright reissued a “buy” rating and set a $16.00 target price on shares of Solid Biosciences in a report on Thursday, December 12th. Chardan Capital reaffirmed a “buy” rating and set a $15.00 price target on shares of Solid Biosciences in a research note on Monday, November 11th. Citizens Jmp raised shares of Solid Biosciences to a “strong-buy” rating in a research note on Tuesday, December 10th. Finally, 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. Nine investment analysts have rated the stock with a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $15.30.

Solid Biosciences Price Performance

Solid Biosciences stock opened at $3.68 on Wednesday. The stock’s fifty day moving average price is $4.92 and its two-hundred day moving average price is $6.62. The firm has a market cap of $147.03 million, a PE ratio of -1.21 and a beta of 2.05. Solid Biosciences has a one year low of $3.42 and a one year high of $15.05.

Solid Biosciences (NASDAQ:SLDB) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.12). Sell-side analysts expect that Solid Biosciences will post -2.85 earnings per share for the current fiscal year.

Insider Activity at Solid Biosciences

In other Solid Biosciences news, insider Jessie Hanrahan sold 4,610 shares of Solid Biosciences stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total value of $25,816.00. Following the completion of the sale, the insider now directly owns 14,235 shares in the company, valued at approximately $79,716. The trade was a 24.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Alexander Cumbo sold 11,114 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $5.60, for a total value of $62,238.40. Following the transaction, the chief executive officer now owns 38,484 shares in the company, valued at $215,510.40. The trade was a 22.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,775 shares of company stock worth $140,008 in the last 90 days. Corporate insiders own 13.63% of the company’s stock.

Institutional Trading of Solid Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SLDB. Vestal Point Capital LP grew its stake in Solid Biosciences by 5.1% in the third quarter. Vestal Point Capital LP now owns 2,800,000 shares of the company’s stock valued at $19,516,000 after acquiring an additional 135,000 shares during the period. Millennium Management LLC lifted its holdings in shares of Solid Biosciences by 135.7% in the 2nd quarter. Millennium Management LLC now owns 1,728,065 shares of the company’s stock worth $9,798,000 after purchasing an additional 994,984 shares in the last quarter. Point72 Asset Management L.P. grew its position in 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 period. State Street Corp increased its stake in Solid Biosciences by 9.2% during the 3rd quarter. State Street Corp now owns 441,540 shares of the company’s stock valued at $3,078,000 after purchasing an additional 37,130 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Solid Biosciences by 303.6% during the second quarter. Renaissance Technologies LLC now owns 277,564 shares of the company’s stock worth $1,574,000 after buying an additional 208,793 shares during the last quarter. 81.46% of the stock is owned by institutional investors.

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.