JMP Securities Begins Coverage on Solid Biosciences (NASDAQ:SLDB)

JMP Securities began coverage on shares of Solid Biosciences (NASDAQ:SLDB) in a research report sent to investors on Tuesday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $15.00 price objective on the stock.

Several other equities analysts have also recently weighed in on SLDB. HC Wainwright restated a “buy” rating and issued a $16.00 price objective on shares of Solid Biosciences in a report on Thursday, November 7th. JPMorgan Chase & Co. decreased their price target on Solid Biosciences from $15.00 to $12.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Chardan Capital reiterated a “buy” rating and set a $15.00 price objective on shares of Solid Biosciences in a research note on Monday, November 11th. William Blair raised Solid Biosciences to a “strong-buy” rating in a report on Friday, August 30th. Finally, Barclays lowered their target price on shares of Solid Biosciences from $18.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. Eight research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Solid Biosciences presently has a consensus rating of “Buy” and an average target price of $15.13.

Solid Biosciences Stock Down 6.6 %

NASDAQ:SLDB opened at $4.68 on Tuesday. The company has a market cap of $186.99 million, a P/E ratio of -1.54 and a beta of 2.01. Solid Biosciences has a twelve month low of $3.83 and a twelve month high of $15.05. The business has a 50 day moving average price of $5.72 and a two-hundred day moving average price of $7.09.

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

Insider Activity

In other Solid Biosciences news, CEO Alexander Cumbo sold 11,114 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 38,484 shares of the company’s stock, valued at approximately $215,510.40. The trade was a 22.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jessie Hanrahan sold 4,610 shares of the business’s stock in a transaction 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 sale, the insider now owns 14,235 shares in the company, valued at $79,716. This represents a 24.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,719 shares of company stock worth $135,457. 13.63% of the stock is currently owned by corporate insiders.

Institutional Trading of Solid Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC lifted its stake in shares of Solid Biosciences by 135.7% in the second quarter. Millennium Management LLC now owns 1,728,065 shares of the company’s stock worth $9,798,000 after acquiring an additional 994,984 shares during the period. Vanguard Group Inc. lifted its position in shares of Solid Biosciences by 283.9% in the 1st quarter. Vanguard Group Inc. now owns 1,244,575 shares of the company’s stock worth $16,578,000 after purchasing an additional 920,404 shares during the period. Point72 Asset Management L.P. boosted its stake 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 during the second quarter worth $1,554,000. Finally, Renaissance Technologies LLC raised its stake 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 currently owned by institutional investors and hedge funds.

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.